Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE


Go Back   Insurance Forums > Insurance Agents and Brokers Forum > Annuities Forum

Reply to How Do You Sell Annuities     
Old 09-22-2007, 09:55 PM   #1
Guru
padthaiforlunch on How Do You Sell Annuities
 
Join Date: Sep 2007
Posts:1,641
State: padthaiforlunch is an Insurance Agent from Undisclosed Location
padthaiforlunch is a member of 1000 posts VIP club
How Do You Sell Annuities How Do You Sell Annuities
SAI had a post in another thread wishing for more discussion on annuities. So I'm curious about how you all market for them.

I have seen programs for seminars, and while I imagine I can put together a powerpoint presentation I don't want to spend $$$$ on a seminar at this time.

With all the senior predation and NASD BS, how do you talk about market risk without giving investment advice and running afoul?

My primary market for annuities is business clients and anyone I run across who has a 401k at an old employer.

But I am also appointed to sell birthday insurance, and I intend to use it as a loss leader (hopefully, break-even) with seniors so I can do a financial review and discuss annuities, ILIT's, and pooled income funds with them.

Is anyone targeting the Boomer market, or cold calling? How about the 403b market?
------------------------------------
  Reply With Quote to How Do You Sell Annuities

Old 09-23-2007, 08:17 AM   #2
Guru
Newby on How Do You Sell Annuities
 
Join Date: Apr 2007
Posts:13,200
State: Newby is an Insurance Agent from Indiana
Newby is a member of 5000 posts Super VIP club
How Do You Sell Annuities Re: How Do You Sell Annuities
Originally Posted by padthaiforlunch View Post
SAI had a post in another thread wishing for more discussion on annuities. So I'm curious about how you all market for them.

I have seen programs for seminars, and while I imagine I can put together a powerpoint presentation I don't want to spend $$$$ on a seminar at this time.

With all the senior predation and NASD BS, how do you talk about market risk without giving investment advice and running afoul?

My primary market for annuities is business clients and anyone I run across who has a 401k at an old employer.

But I am also appointed to sell birthday insurance, and I intend to use it as a loss leader (hopefully, break-even) with seniors so I can do a financial review and discuss annuities, ILIT's, and pooled income funds with them.

Is anyone targeting the Boomer market, or cold calling? How about the 403b market?
I believe the only good ways to sell annuities are seminars and to cross sell your other clients. People don't know about annuities so they don't come asking for them.

I suggest getting a presentation from an annuity company. ING has one called "Safe Money" and is compliant. Seminars aren't all that expensive when you consider the return on investment.
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 09:45 AM   #3
Guru
 
Join Date: May 2007
Posts:2,046
State: Mr. Bill is an Insurance Agent from Undisclosed Location
Mr. Bill is a member of 5000 posts Super VIP club
How Do You Sell Annuities Re: How Do You Sell Annuities
One of the problem areas with respect to "giving investment advice" is simply the conversation with the client where you are moving assets into an annuity, the sale of the investments. You should check with your annuity company to see how they want the transaction to take place. Then, document everything with the client.
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 10:49 AM   #4
Super Genius
 
Join Date: Sep 2006
Posts:125
State: indaville is an Insurance Agent from Undisclosed Location
How Do You Sell Annuities Re: How Do You Sell Annuities
I run seminars and talk with existing clients about them. I do not know of anyone that is a high annuity producer that does not run seminars. I am sure it can be done, but I have not met anyone.

Matt
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 11:19 AM   #5
Guru
senior-advisor-indiana on How Do You Sell Annuities
 
Join Date: Mar 2007
Posts:11,164
State: senior-advisor-indiana is an Insurance Agent from Indiana
senior-advisor-indiana is a member of 5000 posts Super VIP club
How Do You Sell Annuities Re: How Do You Sell Annuities
indaville,
How many times have you not sold anything from a seminar? Or do all of them have a pretty good return?
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 12:08 PM   #6
Super Genius
 
Join Date: Sep 2006
Posts:125
State: indaville is an Insurance Agent from Undisclosed Location
How Do You Sell Annuities Re: How Do You Sell Annuities
Originally Posted by senior-advisor-indiana View Post
indaville,
How many times have you not sold anything from a seminar? Or do all of them have a pretty good return?

So far this year I have had 43 seminars. Almost all of them have produced sales. It is the law of averages. Some might produce only a few thousand in commissions. Others have produced as much as $50,000 in commissions.

Matt
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 12:17 PM   #7
Guru
senior-advisor-indiana on How Do You Sell Annuities
 
Join Date: Mar 2007
Posts:11,164
State: senior-advisor-indiana is an Insurance Agent from Indiana
senior-advisor-indiana is a member of 5000 posts Super VIP club
How Do You Sell Annuities Re: How Do You Sell Annuities
Awesome.
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 07:45 PM   #8
Expert
 
Join Date: Aug 2007
Posts:41
State: Angio333 is an Insurance Agent from Undisclosed Location
How Do You Sell Annuities Re: How Do You Sell Annuities
If you are worried about giving investment advice, why don't you get your series 65? I believe that is the test to be an investment advisor.
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 11:02 PM   #9
Guru
senior-advisor-indiana on How Do You Sell Annuities
 
Join Date: Mar 2007
Posts:11,164
State: senior-advisor-indiana is an Insurance Agent from Indiana
senior-advisor-indiana is a member of 5000 posts Super VIP club
How Do You Sell Annuities Re: How Do You Sell Annuities
How do you go about getting the series 65? How much does it cost? How long does it take to get it?
------------------------------------
  Reply With Quote to How Do You Sell Annuities
Old 09-23-2007, 11:24 PM   #10
Expert
 
Join Date: Aug 2007
Posts:41
State: Angio333 is an Insurance Agent from Undisclosed Location
How Do You Sell Annuities Re: How Do You Sell Annuities
The Series 65 is also known as the Uniform Investment Adviser Law Examination. It would allow you to be a fee based advisor or to give investment/securities advice. It does NOT allow you to SELL investments or securities. It is basically a test and costs a few hundred dollars (I believe it is about $250, but I may be wrong). Basically you buy a book and study your butt off.

The best part about it is that you do NOT need a sponsor! You can take it on your own!

I just learned about it myself and just started looking into it. For more info on the Series 65, check out:

Securities License

http://www.nasaa.org/content/Files/S...5ExamSpecs.pdf

Series 65

For training info

SERIES 65 EXAM - SERIES 65

Securities License Exam: Series 6, 7, 24, 26, 63, 65, 66 Securities Licensing Exam Prep Material

Series 65 License

Thats all I got right now.

Good luck! Also, don't forget to check with your state regulations when it comes to investment advice.
------------------------------------

Last edited by Angio333; 09-23-2007 at 11:28 PM.
  Reply With Quote to How Do You Sell Annuities
Reply to How Do You Sell Annuities 

  Insurance Agent Forum > Insurance Forums > Insurance Agents and Brokers Forum > Annuities Forum


Tags
annuity




Similar Threads with How Do You Sell Annuities
Thread Thread Starter Forum Replies Last Post
Why Do You Sell What You Sell? lleaoclark Getting Started Selling Insurance 31 04-18-2017 04:51 PM
Index Annuities KJ in Miami Annuities Forum 27 05-10-2011 10:23 AM
CA Commissioner Announces Regulations on Annuities for Seniors Crabcake Johnny Annuities Forum 10 03-09-2011 10:29 AM
Where You Sell Annuities? Office, Home Office, Client's House. RBK19 Annuities Forum 58 07-29-2010 03:13 AM
Does Anyone Sell Annuities by Phone and Mail? atalb622 Annuities Forum 6 10-30-2009 01:34 PM
Want to Sell Annuties Lepalms Annuities Forum 24 12-30-2008 05:16 PM
What type of liscense to sell annuities nevets24 Annuities Forum 2 10-29-2008 09:48 PM



All times are GMT -5. The time now is 10:31 PM.

Forum enabled with vBulletin®
Copyright ©2000 - 2017, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

Whats the biggest selling point for voluntary benefits?