I Have Written Only a Few Annuities a Year. Maybe 6 Per Year.

[sydney1108]

I have been writing a half dozen annuities a year. With interest rates down, this year I have only sold one. Usually 3 or 4 by now, doing no marketing just getting referred by my Medicare supp clients? Need some feedback. Are annuity sales way down from you guys that write a lot of annuities? Anybody got a good source for leads (probably mailers) for annuities and final expense leads that work now?

 

[Norwayguy]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

I have been writing a half dozen annuities a year. With interest rates down, this year I have only sold one. Usually 3 or 4 by now, doing no marketing just getting referred by my Medicare supp clients? Need some feedback. Are annuity sales way down from you guys that write a lot of annuities? Anybody got a good source for leads (probably mailers) for annuities and final expense leads that work now?

But rates on CDs are down as well....If the client is surviving off the income from CDs they might be receptive to some income planning...Structuring income from annuities...Just ask them then get the info on what they have now...What income they need and sit with your IMO and see what they can come up with.

 

[BNTRS]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

This little thing called the stock market has been going crazy, so no, annuity sales are not down.

 

[WinoBlues]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

Some of those clients may be more interested on the return of their money more than the return on their money.

Just ask them.

 

[HarryRenard]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

Some of those clients may be more interested on the return of their money more than the return on their money.

Just ask them.

Exactly.

Learn to sell the benefits of an annuity not the interest rates and you will write more.
It really is that easy.

 

[medx]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

Exactly.

Learn to sell the benefits of an annuity not the interest rates and you will write more.
It really is that easy.

Good Information.

 

[Charpress]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

Annuities with income riders are flying off the shelf.

The biggest problem is explaining to people how an insurance company can guaranteed 6-8% while a bank can only go 2%.

One of those "too good to be true" scenarios that have too many people settling for worthless CDs.

Once you explain how to "think like an insurance company" you can see the light go on and they get it.

Safe money, guaranteed returns that can lead to guaranteed lifetime income -why would that be hard to sell?

 

[budfox7]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

Annuities with income riders are flying off the shelf.

The biggest problem is explaining to people how an insurance company can guaranteed 6-8% while a bank can only go 2%.

One of those "too good to be true" scenarios that have too many people settling for worthless CDs.

Once you explain how to "think like an insurance company" you can see the light go on and they get it.

Safe money, guaranteed returns that can lead to guaranteed lifetime income -why would that be hard to sell?

Very easy because Insurance companies invest in the markets because they know where to get the returns, option writing, institutional trading, buying preferred's , investment grade bonds, reits, Mlps , fixed income derivatives like reverse convertibles...

You see knowledge is power and if the Client doesn't know that institutions want your money so they can leverage it and give you a flat rate they will be the happiest campier alive, because they are making more $ and giving you a lower amount. Banks love CD's because all they have to do is make 1% and your covered they can get 3.2% on 10 yr treasury! Thats a spread of 2.2% and thats just Tbills, lord know what the**** they are doing with your clients dough.
I like fixed annuities for the conservative client but also like VA's for the client thats looking for growth, sometimes a hybrid of both is necessary.

 

[SrFinAdvisor]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

Very easy because Insurance companies invest in the markets because they know where to get the returns, option writing, institutional trading, buying preferred's , investment grade bonds, reits, Mlps , fixed income derivatives like reverse convertibles...

You see knowledge is power and if the Client doesn't know that institutions want your money so they can leverage it and give you a flat rate they will be the happiest campier alive, because they are making more $ and giving you a lower amount. Banks love CD's because all they have to do is make 1% and your covered they can get 3.2% on 10 yr treasury! Thats a spread of 2.2% and thats just Tbills, lord know what the**** they are doing with your clients dough.
I like fixed annuities for the conservative client but also like VA's for the client thats looking for growth, sometimes a hybrid of both is necessary.

In short the Insurance company is hedging the market, which ordinary investors cannot do because they are not accredited.

 

[pcwest]

Re: I Have Written Only a Few Annuities a Year. Maybe 6 Per Year

This is the best time in History for annuities...

CD rates stink (Fixed Annuities)

Middle America does not know or trust the stock market (Indexed Annuities)

Baby Boomers have not saved enough (Income Benefit Riders)

Liquidity, avoid probate, tax-deferral, many other features and benefits...

Don't forget the tie back..."What this means to you Mr. and Mrs. client is............."

Feature and Benefit selling.