10 Ways to Prospect for Annuity Premium, Am I Missing Any?

[Justin Bilyj]

Ok since I didn't get any responses in my annuity marketing thread, I thought I would really find out the main prospecting ways to find annuity premium.

-Prospecting to Rmd T71 crowd
-401k rollovers due to loss of principal or high fees or no guarantees
-Maxing out their Pensions and helping them with their guaranteed income needs
-Social Security Timing Seminars
-Mailers focusing on reducing Social Security Income Taxes
-Mailers focusing on an Income you can't outlive
-Mailers focusing on current interest rates
-Roth IRA rollovers
-Selling ltc hybrid annuities to seniors who can't qualify for ltc
-Cross Selling from Medicare Supplements

Now here are my 3 questions:
Am I missing any others?
Which is easiest to prospect for?
What have you found the most success with?

Thank you

 

[Tahoe Ray]

Ok since I didn't get any responses in my annuity marketing thread, I thought I would really find out the main prospecting ways to find annuity premium.

-Prospecting to Rmd T71 crowd
-401k rollovers due to loss of principal or high fees or no guarantees
-Maxing out their Pensions and helping them with their guaranteed income needs
-Social Security Timing Seminars
-Mailers focusing on reducing Social Security Income Taxes
-Mailers focusing on an Income you can't outlive
-Mailers focusing on current interest rates
-Roth IRA rollovers
-Selling ltc hybrid annuities to seniors who can't qualify for ltc
-Cross Selling from Medicare Supplements

Now here are my 3 questions:
Am I missing any others?
Which is easiest to prospect for?
What have you found the most success with?

Thank you

MYGAs vs. CDs
Using annuities to pay for life insurance
1035 of existing traditional annuities to LTC qualified annuities for leverage and possible better taxation.
Death benefit annuities for people who "probably" don't need the money but would be rated/uninsurable for life insurance.

None are easy to prospect for and success will depend on your market. MYGAs are a pretty easy conversation and most people (that you'd want to market annuities to in the first place) have money in the bank. That's a good place to start.

Unfortunately (if you don't already have a book), referrals and cross selling are probably the easiest way to find annuity clients (at least in my experience).

 

[DHK]

Contributory IRA (if the annuity allows for flexible premiums)
Contributory SEP-IRA
Contributory SIMPLE-IRA
IRA-to-IRA transfer
Pension Lump-Sum Payout Transfer to IRA/Annuity
403b marketplace
401k balances at prior employers - to gain greater control on assets, choose a rate of return option with no loss to principal, no fees (compared to 401k plans).
Dissatisfied in current investment account to Annuity (unsolicited liquidation, of course)