Index Annuities for Payroll Deduction?

[LGilmore]

Anybody out there have good things to say about any carrier that offers a index annuity that can be opened with a zero balance or small balance and be funded through payroll deduction?

Was looking at a group annuity but only available in 401k style which would be greater fees than the employer contributes to employees. So too expensive.

The ideal product would be a plan that could be set up on an individual basis, paid into by list billing and reasonable costs.

Thanks for any help.

 

[DFW]

seems like maybe midland national or great american might have that available. i would check with them.

 

[Norwayguy]

seems like maybe midland national or great american might have that available. i would check with them.

Last I checks the midland products were I think limited to 403bs to start with zero balance...Even though I have my differences with them Annuity Investors part of Great American really has designed their policies to work this way with a $50 per month minimum, I set up hundreds of these 403b payroll deducted.

 

[LauderdaleBAUS]

Life of Southwest has a few

 

[ra2783]

Last I checks the midland products were I think limited to 403bs to start with zero balance...Even though I have my differences with them Annuity Investors part of Great American really has designed their policies to work this way with a $50 per month minimum, I set up hundreds of these 403b payroll deducted.

Norwayguy,

What other good annuity companies/products can an independent agent offer at schools for their 403b plans?

 

[scagnt83]

I just saw this thread. For Gilmors question Midland, GA, & NWL all would be ones to look at. I think they all do 403Bs too.

 

[Norwayguy]

Norwayguy,

What other good annuity companies/products can an independent agent offer at schools for their 403b plans?

The first thing is to start at the schools. You need to find out what is approved in the plan document because if its not in there you can not offer it in that schools 403b program.

 

[TwiLight]

Life of the Southwest just came out with some real interesting payroll deduction plans that you should take a serious look at. Their expertise is Non-Profit plans and have been doing it for decades.

So they have gotten through all the issues already and a easy to work with....

I am speaking now as the owner of a Payroll Company.

 

[Norwayguy]

Life of the Southwest just came out with some real interesting payroll deduction plans that you should take a serious look at. Their expertise is Non-Profit plans and have been doing it for decades.

So they have gotten through all the issues already and a easy to work with....

I am speaking now as the owner of a Payroll Company.

When you say payroll deducted are we talking 403b plans or can they be IRA or Nonqualified and what's the minimum premium and what is the setup like with the company minimum lives taken?

 

[TwiLight]

When you say payroll deducted are we talking 403b plans or can they be IRA or Nonqualified and what's the minimum premium and what is the setup like with the company minimum lives taken?

Their specialty is 403b, but they do all plans for payroll deduct. Qual & Non-Qual.