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Old 11-28-2011, 12:08 PM   #1
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Flexible Premium FIA for Small Contributions? Flexible Premium FIA for Small Contributions?
Is there an FIA out there that will take small contributions on an ongoing basis. Looking for something that I can use for contributory IRA's to the tune of $50 or $100 per month. Thanks
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Old 11-28-2011, 12:41 PM   #2
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Todd King on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Presidential has one that will take as low as $25 per month.
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Old 11-28-2011, 02:47 PM   #3
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VolAgent on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
You might have better luck with a fixed annuity. Most FIAs will park the money in the fixed account until renewal anyway. Then you can take advantage of any free withdrawals to move the money into a FIA once it grows enough to meet a higher minimum.

Just an idea if you can't find the FIA.

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Old 11-28-2011, 05:13 PM   #4
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Norwayguy on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Originally Posted by TRK3031962 View Post
Presidential has one that will take as low as $25 per month.
Presidential is a straight Fixed Annuity.
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Originally Posted by WPM View Post
Is there an FIA out there that will take small contributions on an ongoing basis. Looking for something that I can use for contributory IRA's to the tune of $50 or $100 per month. Thanks
Annuity Investors (GAFRI) has products that allow you to start with $50 per month eft and each deposit gets indexed seperatly so no waiting on the money in a fixed bucket until anniversary... Lafayette Life will do $82 or $83 a month till the policy hits the $1000 mark and then it can be lowered, however every dollar that is in its first 12 months in the policy gets a lower rate than seasoned money.

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Peter G Langelier
plangelier@langelierinsurance.com http://www.langelierinsurance.com

Last edited by Norwayguy; 11-28-2011 at 05:16 PM. Reason: Posts merged
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Old 11-28-2011, 08:07 PM   #5
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VolAgent on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Originally Posted by Norwayguy View Post
Annuity Investors (GAFRI) has products that allow you to start with $50 per month eft and each deposit gets indexed seperatly so no waiting on the money in a fixed bucket until anniversary... Lafayette Life will do $82 or $83 a month till the policy hits the $1000 mark and then it can be lowered, however every dollar that is in its first 12 months in the policy gets a lower rate than seasoned money.
Now that is pretty cool regarding Annuity Investors. Although, it really must be a pain if you ever need to surrender the contract. Is the contract pretty competitive?

I have to ask, is this the same GAFRI that everyone is talking about stealing clients?

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Old 11-28-2011, 08:26 PM   #6
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Norwayguy on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Originally Posted by VolAgent View Post
Now that is pretty cool regarding Annuity Investors. Although, it really must be a pain if you ever need to surrender the contract. Is the contract pretty competitive?

I have to ask, is this the same GAFRI that everyone is talking about stealing clients?
That was Med Supps....I deal with thier annuity division so the insurance carriers might be the same but I wonder if its an agency thing.

About each deposit having its own rolling surrender period it also has a waiver of all surrender charges after 7 years and 9 I think depending on which contract....I think the last time I looked at it you have 1 index option S&P 500 guaranteed 100 percent participation but its a cap product and I think the cap is down to 4 and 4.75. I think you need to go to write403bdirect.com to appoint with that side its thier 403(b) side but the products are available for IRA business as well.

In regards to competiveness I think we have to remember very few carriers taking less than $2K these days.
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Old 11-28-2011, 08:40 PM   #7
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VolAgent on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Originally Posted by Norwayguy View Post
That was Med Supps....I deal with thier annuity division so the insurance carriers might be the same but I wonder if its an agency thing.

About each deposit having its own rolling surrender period it also has a waiver of all surrender charges after 7 years and 9 I think depending on which contract....I think the last time I looked at it you have 1 index option S&P 500 guaranteed 100 percent participation but its a cap product and I think the cap is down to 4 and 4.75. I think you need to go to write403bdirect.com to appoint with that side its thier 403(b) side but the products are available for IRA business as well.

In regards to competiveness I think we have to remember very few carriers taking less than $2K these days.
I wasn't thinking so much about the rolling surrenders, but having twelve different periods for indexing. You really can't wait until renewal, as only one renews each month, the others are between 1 and 11 months from their next crediting period.

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Old 11-28-2011, 08:47 PM   #8
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Norwayguy on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Originally Posted by VolAgent View Post
I wasn't thinking so much about the rolling surrenders, but having twelve different periods for indexing. You really can't wait until renewal, as only one renews each month, the others are between 1 and 11 months from their next crediting period.
Yeah thats if you go the route of EFTing into the product.
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Old 11-30-2011, 12:58 PM   #9
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nathan.lee on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
LSW's SecurePlus Gold (10 yr.) and SecurePlus Platinum (15 yr.) allows scheduled payments to be made at $100/monthly with no initial premium as long as it is made via bank draft.

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Nathan Lee

nlee@impactpartner.com
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Old 11-30-2011, 01:02 PM   #10
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Norwayguy on Flexible Premium FIA for Small Contributions? - Insurance Forum
 
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Flexible Premium FIA for Small Contributions? Re: Flexible Premium FIA for Small Contributions?
Originally Posted by nathan.lee View Post
LSW's SecurePlus Gold (10 yr.) and SecurePlus Platinum (15 yr.) allows scheduled payments to be made at $100/monthly with no initial premium as long as it is made via bank draft.
Am I the only one that find LSW a pain to work with?
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