Best Flex Prem Indexed Annuity ( CA.)

spartuna

Expert
47
Az
I have a close friend that would initially deposit $100,000 and add monthly premiums of $2,000 for 10 years
He's 63, income rider not needed.
Suggestions please, I have contracts with Midland, American Equity, Security Benefit, Sagicor, Great American, but have not sold with any of these yet.
I've been exclusively selling single premium with LSW the last few years.

Thanks for any recommendations.
 
I have a close friend that would initially deposit $100,000 and add monthly premiums of $2,000 for 10 years
He's 63, income rider not needed.
Suggestions please, I have contracts with Midland, American Equity, Security Benefit, Sagicor, Great American, but have not sold with any of these yet.
I've been exclusively selling single premium with LSW the last few years.

Thanks for any recommendations.

Being and FMO, I would recommend calling your wholesaler, he or she should be able to help you with this. I don't know of any products that offer a flexible premium for 10 years. Most flexible products offer flex premiums for 3 years. What are you trying to accomplish for the client with this?
 
I have a close friend that would initially deposit $100,000 and add monthly premiums of $2,000 for 10 years He's 63, income rider not needed. Suggestions please, I have contracts with Midland, American Equity, Security Benefit, Sagicor, Great American, but have not sold with any of these yet. I've been exclusively selling single premium with LSW the last few years. Thanks for any recommendations.
I would do the hundred thousand dollars into a fixed indexed annuity, but the 10,000 a year should dollar cost average into a variable product
 
National Western Life allows Premiums for the product life on most of their products.

The Ultra Value and Impact 10 are excellent products.
 
Being and FMO, I would recommend calling your wholesaler, he or she should be able to help you with this. I don't know of any products that offer a flexible premium for 10 years. Most flexible products offer flex premiums for 3 years. What are you trying to accomplish for the client with this?

By most products that offer flex premium for only 3 years you must mean Allianz products....

There are a ton of carriers that do flexible premium for the life of the contract. Great American and American Equity are two to poke at.
 
I agree Ultra Value is a great deferred flexible premium product with a 2% bonus on premiums. Unfortunately the fee for the participation option has risen to 2%!!!!! Ouch.

Everyone in the IA industry is reducing rates or increasing spreads because of the low 10year yield.

National Western has a couple of other products worth looking at such at the Global Lookback and the Impact 7. Both have a 1.25% spread and a 80% PR in S&P 500.

But they have increased the PR on Ultra Value up to 100%. So it is just the 2% spread... still a very strong option...
 
Everyone in the IA industry is reducing rates or increasing spreads because of the low 10year yield.

National Western has a couple of other products worth looking at such at the Global Lookback and the Impact 7. Both have a 1.25% spread and a 80% PR in S&P 500.

But they have increased the PR on Ultra Value up to 100%. So it is just the 2% spread... still a very strong option...
One of our clients just got her first renewal rate notice for the Impact 7 and the PR for the S&P dropped to 30% with a 1.25% spread, she was not very happy about this.
 
One of our clients just got her first renewal rate notice for the Impact 7 and the PR for the S&P dropped to 30% with a 1.25% spread, she was not very happy about this.

The impact 7 is an awful annuity imo, what annuity gives you a bonus vested after 9 years when the surrender is 7???

I am very sorry to hear about that, I signed up a whole bunch of people for the ultra value and now I am dreading next year's renewal rates.
 
The impact 7 is an awful annuity imo, what annuity gives you a bonus vested after 9 years when the surrender is 7???

I am very sorry to hear about that, I signed up a whole bunch of people for the ultra value and now I am dreading next year's renewal rates.
This is one of the big reasons we've been writing F&G a lot lately, their first year rates are great, and renewal rates have been just as good. We had one client actually get a higher rate in the second year for S&P annual point to point, she was thrilled. They've got products for just about any need, and there's no chargeback at death - a huge benefit if you're working with older clients.
 
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