Which Company

[DC2188]

I have a client who wants to roll over their annuity but it needs to have the following features

Min 4% interest 1st year

Min 2% interest years 2-10


Allowed to withdraw 10% each year with out penalty

Licensed in NY and Fl

Which companies fit the bill?

 

[scagnt83]

Midland comes close on their 4 year Fixed (3% y1, 1.75 y2+), but Im not sure if it is approved in NY.

 

[jmhalvo]

I have a client who wants to roll over their annuity but it needs to have the following features Min 4% interest 1st year Min 2% interest years 2-10 Allowed to withdraw 10% each year with out penalty Licensed in NY and Fl Which companies fit the bill?

Delaware 3.65 all ten years

 

[ioenter]

Contact Bankers Life. They have some outstanding programs

 

[DC2188]

Contact Bankers Life. They have some outstanding programs

Client wants an A rated company. Bankers is B rated.

 

[Tahoe Ray]

Client wants an A rated company. Bankers is B rated.

As jmhalvo mentioned, Delaware is likely going to be your bet.

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Also, there are very few of these products available in NY. You're going to have a lot more options in FL.

 

[DC2188]

As jmhalvo mentioned, Delaware is likely going to be your bet. ---------- Also, there are very few of these products available in NY. You're going to have a lot more options in FL.

Yeah I know but this guy wants a company that is licensed in NY because that means they abide by the most stringent insurance laws. Delaware's annuity won annuity of the month on annuity advantage so I think I will propose Delaware's annuity.

 

[Tahoe Ray]

Yeah I know but this guy wants a company that is licensed in NY because that means they abide by the most stringent insurance laws. Delaware's annuity won annuity of the month on annuity advantage so I think I will propose Delaware's annuity.

Then the FL aspect won't matter since it needs to be a NY product. Symetra will probably have your highest yield to surrender (for an A rated carrier) in NY if you have to write there....I would have to double check though (American Pathways has some o.k. NY rates too).

I'm assuming that this case is close to 500k (because of the clients sensitivity to state guarantees)? Let me know if you need any assistance since I have an agency based in NY.

 

[DC2188]

Then the FL aspect won't matter since it needs to be a NY product. Symetra will probably have your highest yield to surrender (for an A rated carrier) in NY if you have to write there....I would have to double check though (American Pathways has some o.k. NY rates too). I'm assuming that this case is close to 500k (because of the clients sensitivity to state guarantees)? Let me know if you need any assistance since I have an agency based in NY.

Well we're in Fl and he's just stuck on having a NY licensed company. I'm only licensed in Fl so the company has to be licensed in Fl. I'll look at both though.

 

[Tahoe Ray]

Well we're in Fl and he's just stuck on having a NY licensed company. I'm only licensed in Fl so the company has to be licensed in Fl. I'll look at both though.

He has to have a reason to write the annuity in NY (residence, business, NY rep, etc.) aside from wanting a NY annuity.

Fl also has a guarantee association (as do all states). However it only covers deferred annuities to 250k. If he's married, you can split owners and diversify your carriers to make sure that he's 100% covered.

If you have the situs ability to write in NY, he'll be sacrificing rate for the additional guarantees...which is o.k. with some people.