Best Indexed Annuity?

InsureGuy5 · 06-10-2009, 03:06 PM

Anyone using the new Sagicor indexed annuity plans?

0b1kanobee · 07-30-2009, 09:04 PM

Ya know how indexed annuities or at least some of them can be tied to the performance of the S & P 500 performance as to how well it does?

Well I wish there was one out there that did the same thing only it was tied to how bad the S & P 500 does. So if over a year on point to point the S & P loses, you make money on those losses.

What say you?

R. Paul Aguirre · 07-31-2009, 11:34 AM

You can try to find a low water mark crediting product, that type benefits the client if the market goes down during the term then raises up at the end<-- simplified explenation. Or if you have a product that has MVA(most do) and you take your money out during a bad market your client can actually get a lil extra money. Look up Market Value Adjustment and find clients with that in their existing contracts because they might benefit by moving their money right now.

annuityseller · 08-01-2009, 10:19 AM

Also to that make if you do REPLACE an annuity make sure the new product DOESN'T HAVE AN MVA.( DOI's have a dim view of agents that replace mva products in another one) I think on going only sell non-mva annuities( Which is what I mostly do)be it right or wrong.Also only sell FIA's with one moving part(Client friendly)

padthaiforlunch · 08-03-2009, 05:28 PM

So which annuities have no MVA?

Charpress · 08-03-2009, 06:06 PM

Originally Posted by padthaiforlunch

So which annuities have no MVA?

Allianz. No MVA and always 100% participation rates. Do they make up their profits with other moving parts? You betcha. But it still makes life better not having to go through the MVA disclosure statement.

annuityseller · 08-03-2009, 06:39 PM

Also my favorite company AE COMES THRU AGAIN WITH NO MVA'S except maybe the 5 year fixed annuity????

R. Paul Aguirre · 08-03-2009, 07:54 PM

I know AIG has a couple non MVA products too.

dgoldenz · 08-03-2009, 08:36 PM

Jackson National's ELIA has no MVA either.

InsureGuy5 · 08-04-2009, 12:29 PM

Thanks for the feedback on Allianz. They are one that I am using more and more these days. They have cleaned up their act quite a bit - especially with the settlement payouts.

dgoldenz · 08-04-2009, 01:10 PM

I tried to read through some of the Allianz product brochures and there sure do seem to be a lot of moving parts and options.

insuranceexec · 08-04-2009, 02:02 PM

Originally Posted by dgoldenz

I tried to read through some of the Allianz product brochures and there sure do seem to be a lot of moving parts and options.

Allianz just like any other company is going to have a lot of moving parts. If it is not on the accumulation side, then it is on the DB side.

I will not even get started on the income side........LOL

What it boils down to is that the agent must know the product they are selling, and many companies do a piss poor job of explaining them.

I know of one company that I called here recently for one of my guys to get an answer to his question; that did not even know the answer.

This particular company told me that I should refer to the local department of insurance for clarification on their own product........LOL

Charpress · 08-04-2009, 06:44 PM

Trying to sell an Allianz product recently, the guy said "Is there a brochure you can give me?"

Before even thinking, I said "Yeah, but you won't understand it."

I immediately realized how insulting that sounded, so I had to add "But hey, I'm in the business and I don't understand it myself."

I think we all know that the old "give me a brochure" is a kiss-off. I won't give them to anybody. It isn't just Allianz. They are all pretty much horrible and a real deal breaker. Aviva came close to some good brochures, but then you had to give the client their MVA brochure at some point. It was a requirement and the client had to sign off that you gave it to them and explained it "thoroughly."

0b1kanobee · 08-05-2009, 02:49 AM

We meet with one guy today and he was comparing Allianz to our LSW product.

Allianz:
1) Upfront bonus but not vested.
2) 8% simple interest on the accumulation value.
3) Laundry list of things to tie the money to.

LSW:
1) Upfront vested immediate credit bonus.
2) 7% compound interest on the accumlation value.
3) A short list to pick from to tie the money to.

He really liked the LSW, we will see????????????

aguilartx · 08-07-2009, 12:13 AM

Really depends on a variety of factors...age of client ? bonus product? what is long term agenda? legacy money or income needed? I know boring answer, but cant be answered without this.