Originally Posted by pbbaseball
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!
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.
[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]
*Nursing Home Rider / Terminal Illness Rider not available in FL and CA
† All Annuitants 86-90 are required to purchase Death Benefit Rider in all states except FL
I'll post some carrier approved sales pieces if I can find some.