Coming Back to Annuity Business

[mbiallas]

I am a full time final expense agent and haven't done any annuity business in about 10 years. At one time annuities were my primary focus. Now I find myself interested in getting back into this. The problem is that I am very rusty and will need a bit of hand holding to start off. I know how annuities work and the difference between fixed and fixed indexed. I guess what I need most is some help with product knowledge. Some insight on how to bring up a discussion about annuities with a typical fe lead would also help.

Any recommendations as to where to start and with whom to get contracted?

 

[GreenSky]

I am a full time final expense agent and haven't done any annuity business in about 10 years. At one time annuities were my primary focus. Now I find myself interested in getting back into this. The problem is that I am very rusty and will need a bit of hand holding to start off. I know how annuities work and the difference between fixed and fixed indexed. I guess what I need most is some help with product knowledge. Some insight on how to bring up a discussion about annuities with a typical fe lead would also help.

Any recommendations as to where to start and with whom to get contracted?

You might want to contact Tahoe Ray about annuity questions.

Do you really think your typical FE lead has enough money saved to warrant an annuity?

Rick

 

[Newby]

You might want to contact Tahoe Ray about annuity questions. Do you really think your typical FE lead has enough money saved to warrant an annuity? Rick

You would be surprised. Maybe not the typical lead. But they are mixed in there.

 

[GreenSky]

You would be surprised. Maybe not the typical lead. But they are mixed in there.

If that's the case and they are looking for FE, wouldn't they be a great prospect for SPWL?

Rick

 

[Newby]

If that's the case and they are looking for FE, wouldn't they be a great prospect for SPWL? Rick

Depends what they want. The annuity money is for retirement income. Life insurance is for death benefit. Two different products for two different purposes.

Sold an FE today and he also has an IRA with $29,000 in it. All he knew was the bank "invests" it and it doesn't make much and he gets a notice every year that he has 10-days to move it every year on June 1st.

Had him make a phone call and confirm my suspicion that it's in a CD and earning less than half a percent. It will cost him $45 penalty to move it now.

I told him he gets $114 per year where it is. Or he can move it to a fixed annuity and get $797 per year.

That's how FE leads can turn into annuity cases. I've had as much as $600,000 off a regular FE lead.

 

[Tahoe Ray]

I am a full time final expense agent and haven't done any annuity business in about 10 years. At one time annuities were my primary focus. Now I find myself interested in getting back into this. The problem is that I am very rusty and will need a bit of hand holding to start off. I know how annuities work and the difference between fixed and fixed indexed. I guess what I need most is some help with product knowledge. Some insight on how to bring up a discussion about annuities with a typical fe lead would also help.

Any recommendations as to where to start and with whom to get contracted?

I provide this service. You will be appointed with all carriers at street level with whoever you choose to write. You can call me with any questions/concerns and I will personally offer assistance.

I can also deal with your clients directly via telephone/screen share if necessary (at no extra cost to you).

Feel free to contact me and I will be happy to assist you with your new endeavor.

 

[rugerred]

Depends what they want. The annuity money is for retirement income. Life insurance is for death benefit. Two different products for two different purposes.

Sold an FE today and he also has an IRA with $29,000 in it. All he knew was the bank "invests" it and it doesn't make much and he gets a notice every year that he has 10-days to move it every year on June 1st.

Had him make a phone call and confirm my suspicion that it's in a CD and earning less than half a percent. It will cost him $45 penalty to move it now.

I told him he gets $114 per year where it is. Or he can move it to a fixed annuity and get $797 per year.

That's how FE leads can turn into annuity cases. I've had as much as $600,000 off a regular FE lead.

How do you go about asking that information?

Sent from my Samsung Galaxy

 

[Tahoe Ray]

How do you go about asking that information?

Sent from my Samsung Galaxy

Use a fact-finder.

 

[Newby]

How do you go about asking that information? Sent from my Samsung Galaxy

Just normal conversation when it happens. Most FE appointments I don't fact find for annuities. But if they say something like "you can't get any interest on your money these days" it opens a conversation up. That's how this one went.

I don't have any problem asking fact finding questions.

 

[rugerred]

Just normal conversation when it happens. Most FE appointments I don't fact find for annuities. But if they say something like "you can't get any interest on your money these days" it opens a conversation up. That's how this one went.

I don't have any problem asking fact finding questions.

That is probably my biggest weaknesses. I tend to go for the sale and not go past.

Sent from my Samsung Galaxy