Originally Posted by RFG
I am a veteran life guy trying to move into the annuity business. I am with a big mutual so can't do Index Annuities, but have a 6&63. Ideas please
My advice is to leave mother mutual and go indy if you really want to be in the annuity business.
MYGAs are paying next to nothing these days. VAs are just really expensive Mutual Funds. Indexed Annuities are an extremely strong product and are by far the best value in the annuity market today.
Or you can just not tell mother mutual that you are selling Indexed products. When I was at NYL I knew a lot of guys who were selling indexed products and just not telling NYL about it. Almost all of the Indexed carriers offer MYGAs and SPIAs, so when they run a contracting report on you they will not know which products you are selling... obviously this is not a great idea...
There are some really crappy IAs out there right now. But there are also some really strong IAs right now. And if you are planning on selling GMWB Riders, IAs beat the VAs hands down.
But if you are deadset on selling VAs, Jackson National probably has the best product out there. LFG and Met have strong products too.
For MYGAs look at Oxford, Midland, Guggenhiem, & F&G.