92 Year Old Options?
- Thread starter 2ripannuities
- Start date
- 8,707
Or license with Union Central and offer a CD through Acadia (might be spelled wrong) or offer a Market Linked CD but with both options the client will most likely end up with less interest now than her existing Annuity.
What license do you need to sell the CD through Acadia? Do they pay you anything?
I have an affiliation with Everbank, but they require a Series 6 to sell the productions (comp is all trail based, mostly 5 - 10 bps).
- 8,707
I used to be affiliated with Everbank as well...Acadia only requires you to be Life & Health Licensed they do pay trail based compensation....The CDs have a really low interest rate actually the only thing that seems decent is the IRA statement savings account paying 1%. I offer the Market Linked CDs through another firm the comp ranges from 1.5% to 2%.
- 8,707
No but when the CD is up the money must be moved which can be into a new CD and comp is paid again....Having said all this when push comes to shove I haven't sold the market linked CD yet as I've been able to show people the benefits that the annuity brings to the table beyond the FDIC protection the CD offers.
There's nothing really out there for a 92yr old in the Fixed Annuity market to replace this policy with that would be beneficial for the client to move the money.. Yes it's true that her existing policy is probably only getting a Fixed Annual renewal rate at that 3.35%, but with a policy that been in force that long they typically have pretty consistent renewal history.. Why do you show her some options for investing what she's getting as RMDs to spread out those eggs into different baskets. You say she's dead set on replacing the whole policy but if you show her the effect it would have on her versus using her RMDs to invest in those alternatives, it may sway her train of thought.. Either way good luck
afghanimax26
New Member
- 2
I don't know of much out there that will issue past 85...and even those are hard to come by.
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