Fraternal Organization Annuities

[arnguy]

Do any of you member have any experience with these type of annuities? I know that they are not covered by the state guaranty associations. Please share.

 

[pcwest]

I have not heard of any. I think Forresters sold life to either Catholics or Lutherans...

 

[arnguy]

I am not asking if anyone has heard of them. There are quite a few. What I am asking is if anyone has experience in selling them and to comment on that experience.

 

[HarryRenard]

I have never sold them but the ones that I have run across in the field seem to be paying much better interest rates, with less surrender charges.
So probably worth looking into

 

[arnguy]

Thanks for the reply, Harry. I have noticed that, too, in the ads and solicitations from them.

 

[bill3173]

I thought the Fraternal Organizations were just plain weird. Glad to know they have good annuities.

 

[retread]

I thought the Fraternal Organizations were just plain weird. Glad to know they have good annuities.

Fraternal organizations also serve local community charities. The good ones, that is....

 

[LGinOhio]

I sell life & annuities for a fraternal insurance company. I stand behind them completely. My experience goes first as a client, then recently when I got my insurance license I started to sell for them. I have had more on hands training from them - as an independent agent...that is hard to come by. I believe fraternal societies manage their funds more closely, as they are there FOR THE PEOPLE THEY SELL TO.... Their members. Many other benefits given to members as well. Not to mention no fees on annuities and great rates. any specific information you are seeking?

 

[0b1kanobee]

I know there is supposed to be a one year annuity that is a fraternal that pays 3.5% interest for one year. No other years. it is a one year product. Problem is the only one who knows about this product is another forum member and they won't tell me what it is.

 

[JFBAgent]

I know there is supposed to be a one year annuity that is a fraternal that pays 3.5% interest for one year. No other years. it is a one year product. Problem is the only one who knows about this product is another forum member and they won't tell me what it is.

I was told about a fraternal by another agent that has a fully liquid annuity. Can keep it in there as long as you want and it pays a guaranteed 3%.

Problem is it is a C- rated company with serious problems. Oh, and they placed a lien against every policyholder's account last year...

I took a pass on the contracting kit...