Voya Wealth Builder Plus

[Indy007]

I've been using this product with success the last year or so, and just looking for other opinions. There are a lot of options in the market, so wondering what others might be writing for their FIA business and how those stack up to Voya's product.

Voya Wealth Builder Plus

Pro:
Well known A rated carrier.
8 year product.
$15k-$100k= 6.5% S&P 500 pt to pt (currently).
$100k-$750k= 7.25% S&P 500 pt to pt (currently).
$750k+= 7.5% S&P 500 pt to pt (currently).
4% Fixed Rate (currently).
2% "Guaranteed Rollup Rate" in addition to S&P return.
Flexible premium.
Full accumulation value at death.

Con:
Only 5% free withdrawals annually.
Mandatory .85% "Guaranteed Rollup Rate" fee.
MVA, could possibly be a con depending on interest rates.
Commission not terrible, but not what some other products are.
Nursing home and terminal illness waiver not available in all states.

 

[aclaro]

What are you using it for? Growth play or income play?

 

[Indy007]

What are you using it for? Growth play or income play?

Mainly growth as it has some of the highest 1yr S&P 500 pt to pt caps I've seen, recently. Pair that with a strong fixed rate, and a decent income potential, I think it's pretty well rounded. It has a few cons that I've mentioned, but I wanted to see what others are using and why to compare the pros/cons of different products.

 

[EAJoe]

Mainly growth as it has some of the highest 1yr S&P 500 pt to pt caps I've seen, recently. Pair that with a strong fixed rate, and a decent income potential, I think it's pretty well rounded. It has a few cons that I've mentioned, but I wanted to see what others are using and why to compare the pros/cons of different products.

How have the renewal rates been? From what I've seen in the past, VOYA has some of the worst renewal rates in the industry. I'd much rather sell the American National Strategy Indexed Plus series.

- 10 or 7 year contract
- A rated carrier
- No fees unless you elect an income rider
- 10 year product currently has a 2.90% fixed rate, 1 year S&P pt-to-pt with a 5.20% cap & 100% participation rate, or 16.55% cap & 50% participation.
- 7 year product currently has a 2.70% fixed rate, 1 year S&P pt-to-pt with a 4.75% cap & 100% participation rate, or 13.70% cap & 50% participation.
- 10 year, 7.00% income roll-up available for .60%
- 10 year, 4.00% + index credits roll up available for .30%
- Income rider fees are deferred in years where there is no interest credited, so your clients will never see their account value "go backwards" due to fees
- No chargeback on death

Shoot me a DM if you're interested in the product.

 

[Indy007]

How have the renewal rates been? From what I've seen in the past, VOYA has some of the worst renewal rates in the industry. I'd much rather sell the American National Strategy Indexed Plus series.

- 10 or 7 year contract
- A rated carrier
- No fees unless you elect an income rider
- 10 year product currently has a 2.90% fixed rate, 1 year S&P pt-to-pt with a 5.20% cap & 100% participation rate, or 16.55% cap & 50% participation.
- 7 year product currently has a 2.70% fixed rate, 1 year S&P pt-to-pt with a 4.75% cap & 100% participation rate, or 13.70% cap & 50% participation.
- 10 year, 7.00% income roll-up available for .60%
- 10 year, 4.00% + index credits roll up available for .30%
- Income rider fees are deferred in years where there is no interest credited, so your clients will never see their account value "go backwards" due to fees
- No chargeback on death

Shoot me a DM if you're interested in the product.

Thank so for the input EAJoe. The ANICO product seems decent too.

I did a review yesterday with a client who bought hers 3/2016. Her cap was 7.25% at issue, and renewed for the upcoming year at 7.25%. The Wealth Builder Plus product is only a couple of years old, so not much history before that.

 

[JoeAnnuity]

Athene Accumulator10 has an annual P2P on the S&P 500 with a cap of 6.25% for over $100k. No income rider available (optional death benefit). Also has 10% free withdrawal. If I['m going for just accumulation then this is my play. They also have a 105% participation rate on the annual P2P using the BNP MAD 5 index. 2 yr P2P part rate is 155% (over $100k)

 

[scagnt83]

Athene Accumulator10 has an annual P2P on the S&P 500 with a cap of 6.25% for over $100k. No income rider available (optional death benefit). Also has 10% free withdrawal. If I['m going for just accumulation then this is my play. They also have a 105% participation rate on the annual P2P using the BNP MAD 5 index. 2 yr P2P part rate is 155% (over $100k)

Why the 10 year product over the 7 or 5 year product that have higher participation rates on the BNP? Because of the higher Caps on the P2P?

 

[JoeAnnuity]

Why the 10 year product over the 7 or 5 year product that have higher participation rates on the BNP? Because of the higher Caps on the P2P?

Athene did a product refresh a few months ago. I used to sell the 7 year over the 10 year because of the higher caps and better PR's. They developed a new product called the Ascent Accumulator which has no income rider and the rates are better on the 10 yr than the 5 or 7. Here is the PR on the 2 yr P2P BNP for over $100K

5 year - 125%
7 year - 145%
10 year - 155%

 

[TheAnnuityAcademy]

I am a big fan of the Guggenheim TriVysta of the American Equity Choice 10 with the 50% participation rate.