Income Annuities Not Available in Texas?

dgoldenz · 07-20-2009, 07:43 PM

Are there any agents here familiar with Texas laws regarding income annuities? I just looked at the RBC Enhanced Choice and the Allianz Masterdex X and neither are approved for sale in Texas.....is there a regulation that prohibits bonus income annuities in Texas, or just a coincidence? Anyone know of a good 3rd option for an income annuity from a reputable (read: A rating or better) company? Any advice is appreciated, thanks.

insuranceexec · 07-20-2009, 08:52 PM

The RBC income rider is available in Texas.

I will check on Allianz in the morning and report back.....I hope this helps..................

dgoldenz · 07-20-2009, 09:40 PM

Thanks for the info....I guess the availability sheet I had was outdated.

insuranceexec · 07-20-2009, 09:50 PM

Originally Posted by dgoldenz

Thanks for the info....I guess the availability sheet I had was outdated.

With information changing as fast as it is right now; its amazing that the insurance companies can keep it straight............LOL

I have one company that has changed their comp structure 3 times in the last 37 days...................

dgoldenz · 07-20-2009, 10:05 PM

Bastards....

insuranceexec · 07-20-2009, 10:20 PM

Originally Posted by dgoldenz

Bastards....

LOL..............It could always be worse.

SmartMoney · 07-21-2009, 07:31 AM

Insuranceexec, are you aware of any FPDA income annuitys in the market currently?

insuranceexec · 07-21-2009, 09:42 AM

Originally Posted by SmartMoney

Insuranceexec, are you aware of any FPDA income annuitys in the market currently?

There are several worth considering. What is the time horizon, and the expected First year premium?

SmartMoney · 07-21-2009, 11:09 AM

Originally Posted by insuranceexec

There are several worth considering. What is the time horizon, and the expected First year premium?

Probably looking to begin a payout within the first 5 years. Even if you know of something which allows deposits during the first year it may fit this clients needs.

It seems alot of the bonus income products out there are SPDA's...