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-   -   Sentinel Security Life Fixed Annuity (http://www.insurance-forums.net/forum/annuities-forum/sentinel-security-life-fixed-annuity-t33924.html)

pbbaseball 08-18-2011 01:37 PM

Sentinel Security Life Fixed Annuity
 
Ok, so I've never really done much with annuities, but was curious if anyone is selling this product? Emails from FMO's keep saying 3.75% fixed before riders on a 5 yr.

Seems like a good product to replace cd's with that isn't too confusing for me or the customers.

Any idea if they have preapproved direct mail pieces or newspaper ads to market this with? I don't think I have enough current customers that this would fit to solely market it to them.

Lets hear what everyone has to say!

dgoldenz 08-18-2011 02:05 PM

Re: Sentinel Security Life Fixed Annuity
 
Guaranteed minimum is 1%...

ScottLFB 08-18-2011 03:35 PM

Re: Sentinel Security Life Fixed Annuity
 
Here's the skinny on that one I believe.. 3.75% MYGA for 5yrs Before the riders..
You want it RMD friendly? Take 0.16% off that original rate.
You want 10% penalty free access? It will cost you 0.08%
You want Interest only withdrawal access? It will cost 0.03% instead
You want the Terminal Illness/Nursing Home Care Rider? It will cost 0.15%

**You might want to give the client the 3.67% rate with 10% penalty free withdrawals so they at least have access to some of the money..

pbbaseball 08-18-2011 03:56 PM

Re: Sentinel Security Life Fixed Annuity
 
thats kind of what i was thinking after looking at the email a little closer.....

Milhan6770 09-20-2011 01:52 PM

Re: Sentinel Security Life Fixed Annuity
 
If you like you can get your [B] annuinty[/B] in installments,It calls structured settlements.It's much easy to you.

marketing 07-31-2012 08:37 PM

Re: Sentinel Security Life Fixed Annuity
 
[quote=Milhan6770;439045]If you like you can get your [B] annuinty[/B] in installments,It calls structured settlements.It's much easy to you.[/quote]


Thanks guys, some great information on this company

nathan.lee 08-01-2012 02:29 PM

Re: Sentinel Security Life Fixed Annuity
 
[quote=pbbaseball;426111]Ok, so I've never really done much with annuities, but was curious if anyone is selling this product? Emails from FMO's keep saying 3.75% fixed before riders on a 5 yr.

Seems like a good product to replace cd's with that isn't too confusing for me or the customers.

Any idea if they have preapproved direct mail pieces or newspaper ads to market this with? I don't think I have enough current customers that this would fit to solely market it to them.

Lets hear what everyone has to say![/quote]

Unfortunately that product hasn't been at 3.75% on the 5 yr. for at least 6 months.

Right now the 5 yr. is at 3.20% with a rate change to 3.10% effective on 08/10/2012.

PBBaseball, I'm not sure what state you are in but the rates are .1% lower in FL and .2% lower in Minnesota.

Here is a little more of the fine print on this one. Scott had a few of these.

[LEFT][FONT='Arial', 'sans-serif']Required Minimum Distribution: .16%
Preferred 10% Free Withdrawal: .08%
72 (t) Free Withdrawal: .05%
Accumulated Interest Withdrawal: .08%
Terminal Illness / Nursing Home Care*: .15%
Death Benefit Feature : .35%[/FONT][/LEFT]

[LEFT]*[I]Nursing Home Rider / Terminal Illness Rider not available in FL and CA[/I]
[I]All Annuitants 86-90 are required to purchase Death Benefit Rider in all states except FL[/I] [/LEFT]

I'll post some carrier approved sales pieces if I can find some.

marketing 08-01-2012 05:30 PM

Re: Sentinel Security Life Fixed Annuity
 
[quote=nathan.lee;574230]Unfortunately that product hasn't been at 3.75% on the 5 yr. for at least 6 months.

Right now the 5 yr. is at 3.20% with a rate change to 3.10% effective on 08/10/2012.

PBBaseball, I'm not sure what state you are in but the rates are .1% lower in FL and .2% lower in Minnesota.

Here is a little more of the fine print on this one. Scott had a few of these.

[LEFT][FONT='Arial', 'sans-serif']Required Minimum Distribution: .16%[/font]
[FONT='Arial', 'sans-serif']Preferred 10% Free Withdrawal: .08%[/font]
[FONT='Arial', 'sans-serif']72 (t) Free Withdrawal: .05%[/font]
[FONT='Arial', 'sans-serif']Accumulated Interest Withdrawal: .08%[/font]
[FONT='Arial', 'sans-serif']Terminal Illness / Nursing Home Care*: .15%[/font]
[FONT='Arial', 'sans-serif']Death Benefit Feature : .35%[/font][/LEFT]

[LEFT]*[I]Nursing Home Rider / Terminal Illness Rider not available in FL and CA[/I]
[I]All Annuitants 86-90 are required to purchase Death Benefit Rider in all states except FL[/I] [/LEFT]

I'll post some carrier approved sales pieces if I can find some.[/quote]
Thanks nathan, I'm in Florida


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