1) 3% upfront bonus
2) Add the GLIR (income for life)
3) Distributes at 7% after the 9 years
4) Cap of 8.5% on point to point
5) They publish all of their prior years rate of returns on all annuities.
6) Distributes at 9% if 2 of the activities of daily living are lost.
7) 100% participation rate on point to point
8) They are very agent friendly company
1) 3% upfront bonus
2) Add the GLIR (income for life)
3) Distributes at 7% after the 9 years
4) Cap of 8.5% on point to point
5) They publish all of their prior years rate of returns on all annuities.
6) Distributes at 9% if 2 of the activities of daily living are lost.
7) 100% participation rate on point to point
8) They are very agent friendly company
Anyone else using this product?
It is a good product. What contract level are you at with them?
Only time will tell and looking at the ones that have left they were never really big in them to begin with so it may be right for them but not for the others with more vested in them like Aviva, AE, Allianz, Midalnd etc.
I like FIA's and personally think they are a valuable tool as long as SEC keeps their paws off of them. Time will tell on that as well.
I was told LSW was one of the first companies to off FIA's.
I also heard good things about Great American but have not been able to find out anything about their products. I wish I knew more about this company. When I have looked at client's statements with Great American it seems they are doing well (good product).
INSURANCEEXEC What do you like about the LSW product/s. Anything there that I did not list?
Anyone have a link to Great American's fixed annuities? If not could you send me information on there fixed annuities. Essentially any annuity that you don't have to have a series license to offer it? It would be greatly appreciated.
INSURANCEEXEC What do you like about the LSW product/s. Anything there that I did not list?
No, you hit all of the highlights.
Another thing I like about LSW is there ability to answer the phone when an agent needs them, and solve problems. Or as you say "they are very agent friendly."
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I don't know much about LSW I looked at them in the past but nothing jumped out at me. I think LSW is stronger in Life products than they are in annuity products.
Great American I know a little about they have a nice product called "American Icon" with a 5% Bonus and pretty decent caps and comp. They don't offer a lot of products but they seem to be pretty decent ones.
For indexed products I like PremierMark Series from Investors Insurance it has a 0, 7, or 10% bonus and a Gold Strategy. It also has what the call the Enhanced Care Rider with no underwriting and decent caps and comp.
I have been hearing good things about RBC too but again I don't know much about them myself.
I don't know much about LSW I looked at them in the past but nothing jumped out at me. I think LSW is stronger in Life products than they are in annuity products.
Great American I know a little about they have a nice product called "American Icon" with a 5% Bonus and pretty decent caps and comp. They don't offer a lot of products but they seem to be pretty decent ones.
For indexed products I like PremierMark Series from Investors Insurance it has a 0, 7, or 10% bonus and a Gold Strategy. It also has what the call the Enhanced Care Rider with no underwriting and decent caps and comp.
I have been hearing good things about RBC too but again I don't know much about them myself.
You are absolutely correct.
RBC has some very good products right now.
Another thing about RBC is that they have good compensation levels.
Meaning the spread between street and NMO is pretty well covered.
I have been licenced here in SC since 2005 but had my licence in CA as well. I am just trying to learn Indexed Annuity's and these type of products you can sell without the securities. If you know of a good info book or ? that will help please let me know. Thanks
I Have been selling Mort. Life and Senior products. Term/Whole Life Medicare products. I have attended one seminar on Annuities with Tyrone Clark and was not very impressed with the presentation of the material. Basically throw a little info at agents and contract them and hope they write business for overrides and keep paying for our lousy seminars to expand your knowledge. Thanks for any help you can recommend in advance.
I have been licenced here in SC since 2005 but had my licence in CA as well. I am just trying to learn Indexed Annuity's and these type of products you can sell without the securities. If you know of a good info book or ? that will help please let me know. Thanks
I Have been selling Mort. Life and Senior products. Term/Whole Life Medicare products. I have attended one seminar on Annuities with Tyrone Clark and was not very impressed with the presentation of the material. Basically throw a little info at agents and contract them and hope they write business for overrides and keep paying for our lousy seminars to expand your knowledge. Thanks for any help you can recommend in advance.
You might want to start out with "Annuities for Dummies". Then there are all kinds of places on the net to learn about annuities.
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Todd R. King
800-590-7207
540-400-6275
888-748-3978 Fax
[COLOR=red]Do the right thing because it's simply the right thing to do.[/COLOR]
I have had a few people ask me about one of the features of the FIA's. Basically the question is: How can you not lose money?
See the floor is zero. So when they put their money into the indexed side and say it is based on the performance of the S & P 500 and the market goes down on point to point, why don't they lose money also.
I'm looking for a professional possibly canned response to this question. I pretty much know what the answer is but I think I am giving too much TMI (too much information) to prospective clients. I lose them somehow mentally.
Have any of you run across this and how do you respond or handle it? The ones I am running across think it sounds too good to be true. I have a brochure that shows not one single customer lost a penny in the indexed annuity but sometimes they still want an explanation of how that can be.
Anyone have any ideas or come across this? Thanks for the help.
I like to educate the client, and I do it using the example of $1.00 of premium.
Using ballpark figures, the insurance company takes, say, 10 cents for their expenses and profit. Now with the other 90 cents, the first thing they do is buy bonds that will get your money plus minimal interest back at the end of the ten years.
If the bonds cost 65 cents, then that leaves a quarter for them to buy options on the market. Now, if they can buy the bonds for 60 cents, then the extra 5 cents buys options with a higher cap.
Why don't they lose money? Because it is in the contract that the insurance company is going to take all the risk and in return, they keep a portion of the gains. Very simple.
His books and tapes have you or know someone who has used them? What do annuity agents think of his material. Is it worth investing in? Can you get or learn this somewhere else at a better price or better product?
Re: Best Indexed Annuity?
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