After-Market Annuities?

[Manteca]

I stumbled upon this ad the other day and I'm wondering what the story is with these products.

8.00 % to 9.00% All-Years ​

After-Market Fixed Term Income Annuities! ​

(Limited Inventory)​

Purchase of Your Own Account or Facilitate the Purchase for Your Client as an Agent!
Priced to yield 8.00% to 9.00% Guaranteed All Years Regardless of Duration
Originally Issued By Highly Rated Companies such as Allstate, John Hancock, Metropolitan, New York Life, Prudential, Transamerica and more ​

- COMPARE THE INTEREST EARNED OVER 10 YEARS -​

AA CARRIER DIRECT FIXED-TERM ​

ANNUITY AT 5.00% GUARANTEED $62,597​

SAME AA CARRIER AFTER-MARKET FIXED-TERM ​

INCOME ANNUITY AT 8.00% GUARANTEED $115,892​

The After-Market Fixed Term Income Annuity offers you guaranteed future payments from some of the same highly rated insurance companies but with a significantly higher rate of return than with a new direct purchase!​

I emailed and phoned the MGA but have not yet received a response.

Does anyone know the scoop on how these work? They appear to be regular MYGA products issued through a variety of carriers - but somehow the MGA has a way of crediting an additional "bonus" rate on top of the standard rates. It sounds intriguing and a bit fishy at the same time.

 

[InsureGuy5]

I have never found something that is guaranteed to yield 3-5% more than the going average not to be fraught with some kind of risk.

 

[golfnut]

These are SPIA's that were purchased from the orginal owner's at a discount

 

[Manteca]

These are SPIA's that were purchased from the orginal owner's at a discount

Thank you. That certainly explains it.

 

[JosephBrianBowm]

I have a full load of after market annuities from 45,000 to in excess of 500k. It's a pretty straight forward proposition. Structured settlements get funded and the insurance company sells the difference over time and the income is phenomenal. The kicker is it's fixed for the period, no ifs ands or buts.. Your money over time equals the total income.. period. For example $368,239.00 buys and income stream structured like july 12 2011 35,000 july 12 2012 35,000 july 12 2013 35,000 july 12 2016 200,000 and july 12 2021 250,000... A 10 year fixed income aggregate return is 555,000 ... Call me if you are interested. 800-955-0935 Wayne or Joseph Bowman I can send you the entire portfolio to choose for yourself which fits your time and budget requirements.

Remember these aren't always available as layed out. Each is different and the returns and purchase prices vary.

Joseph Bowman
Vice President
[email protected]

 

[pcwest]

Secondary Market Annuities can work really well. I only promote them when the right situation comes along.

 

[medx]

I stumbled upon this ad the other day and I'm wondering what the story is with these products.

8.00 % to 9.00% All-Years ​

After-Market Fixed Term Income Annuities! ​

(Limited Inventory)​

Purchase of Your Own Account or Facilitate the Purchase for Your Client as an Agent!
Priced to yield 8.00% to 9.00% Guaranteed All Years Regardless of Duration
Originally Issued By Highly Rated Companies such as Allstate, John Hancock, Metropolitan, New York Life, Prudential, Transamerica and more ​

- COMPARE THE INTEREST EARNED OVER 10 YEARS -​

AA CARRIER DIRECT FIXED-TERM ​

ANNUITY AT 5.00% GUARANTEED $62,597​

SAME AA CARRIER AFTER-MARKET FIXED-TERM ​

INCOME ANNUITY AT 8.00% GUARANTEED $115,892​

The After-Market Fixed Term Income Annuity offers you guaranteed future payments from some of the same highly rated insurance companies but with a significantly higher rate of return than with a new direct purchase!​

I emailed and phoned the MGA but have not yet received a response.

Does anyone know the scoop on how these work? They appear to be regular MYGA products issued through a variety of carriers - but somehow the MGA has a way of crediting an additional "bonus" rate on top of the standard rates. It sounds intriguing and a bit fishy at the same time.

I wonder what the commission on this is ?

 

[0b1kanobee]

I would hate to find one that would work well for a client and if the client says ok after thinking it over or even on the spot, only to find out it is no longer available. Whole lot of work for nothing and perhaps even a lost sale after losing momentum. That would be a huge mess to try and clean up.

I can just see it now when the client says, "your idea for my retirement plan was to show me a product, put it together, only to tell me you don't have it?". That should go over real nice LOL

Am I missing something here?

 

[golfnut]

I have been paid 3-9% on these deals, as mentioned it has to be a Client that can live with the payback schedule, usually takes about 60 days to close and requires a deposit to hold the deal.

 

[pcwest]

Yes, the commish is very nice.