American National Contract

[scagnt83]

Well thank you. I learned something there. Now I am ready for about 100 of those types of prospects to walk through the door!

Do you prefer the tradional DB or the insured DB for those types of clients? I find it hard to compare these plans but when one is in such a high tax bracket it seems like the plan that lowers the taxable income the most should win.

You and me both on those 100 prospects!

Fully Insured is best for an older owner with very few employees (no more than 4 or 5). You can put more into it hypothetically for an older owner but it also is a bit more in admin too.

It all just depends on the situation and how much they need to defer.
The main downside is that they are required to contribute a % of salary for every full time employee. So it is best when you have high earning shareholders and median/low earning employees. Think doctors/lawyers/etc.

Cash balance plans are getting popular in the market. It is basically an DB plan that can be layered over a 401k/PS plan. In short it counts 401k contributions in with the DB contribution calculations. So many employees get maxed out (or close to it) for their DB contribution % in the 401k plan. In short it often lets the owner contribute a good bit more over the 401k/PS but limit their employee contributions. Especially for businesses that feel the "need" for a 401k plan.

 

[SusieQ2]

I am looking at ANICO because of their pension plans. It seems like for an agent just starting out in that market they have good support, training, etc???

Any other suggestions as far as the other companies that will assist in getting someone up and running on product knowledge?

 

[scagnt83]

I am looking at ANICO because of their pension plans. It seems like for an agent just starting out in that market they have good support, training, etc???

Any other suggestions as far as the other companies that will assist in getting someone up and running on product knowledge?

Anico has good Pension training. They have a good variable group annuity... unfortunately the fixed group annuities have low rates right now just like all fixed annuities.

They do the tpa work and the fees are very reasonable. You can find lower asset fees on the group VA, but they are still fairly competitive.

I dont know of better training than the webinars they have. I think 401Kcoach has pension training now. You could check out their website, just google them.

 

[wln417]

I am looking at ANICO because of their pension plans. It seems like for an agent just starting out in that market they have good support, training, etc???

Any other suggestions as far as the other companies that will assist in getting someone up and running on product knowledge?

I am looking for feedback on this. Has anyone on this forum used ANICO's pension plan? How did it go? Do you recommend? Why, or why not?

Is there any other company with a similar set up?

Thanks in advance.

 

[barryjphillips]

Brent Gardner
Top Gun producers knows his stuff and provides a great deal




QUOTE=CFP83;908931]interesting about Ohio National.....however being that I'm in Ohio, the oddity is that its a horrible state to sell ohio national in for independent advisors.....as I understand it, I have no other choice other than to go through a career GA and take a huge haircut.

I really like this ANICO product and the fact that they have their own TPA makes it an even better selling point.[/QUOTE]