Indexed Annuity Question

InsureGuy5 · 11-05-2009, 04:18 PM

I'm looking for an indexed annuity with a three year term for a person over 80. Preferably one with a decent point to point account and a reasonable cap. Any suggestions from the forum?

insuranceexec · 11-05-2009, 09:51 PM

Originally Posted by InsureGuy5

I'm looking for an indexed annuity with a three year term for a person over 80. Preferably one with a decent point to point account and a reasonable cap. Any suggestions from the forum?

Legacy Premier Mark. But it depends on the tax status; Q or NQ?

Charpress · 11-06-2009, 11:01 AM

I don't think you will find any decent indexed product for that short a term. From the company's viewpoint, it is just not a profitable scenario to offer an index for such a short period of time.

A fixed product might be a better fit anyway. You can get 4% guaranteed if the client would go 4 years from one company, or there is quite a bit more to choose from if 5 years is a possibility. I would only be looking at products with a full death benefit given the age and I would encourage getting the kids, if there are any, involved just to avoid suitability complaints down the road.

insuranceexec · 11-06-2009, 05:57 PM

Originally Posted by Charpress

I don't think you will find any decent indexed product for that short a term. From the company's viewpoint, it is just not a profitable scenario to offer an index for such a short period of time.

A fixed product might be a better fit anyway. You can get 4% guaranteed if the client would go 4 years from one company, or there is quite a bit more to choose from if 5 years is a possibility. I would only be looking at products with a full death benefit given the age and I would encourage getting the kids, if there are any, involved just to avoid suitability complaints down the road.

I missed the part about only being a 3 year term. I thought the OP was wanting a 3 year pt to pt strategy.

Your advise is correct, Charpress.