American National discontinuing life insurance sales

[shonceman]

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They were acquired by Brookfield not too long ago. This is a disappointing development.

Any idea whether this affects the Career Sales division (the formerly home service division)? They still list openings for CSSD agents on their website.

 

[DHK]

Should I choose to ask, She did offer help to readers of one of her books, which @MTC recommended and I have purchased.

It's a possible compliance consideration.

The reason it matters is that it can be seen as a solicitation for business, and last I recall, @Sheryl J Moore is also not a licensed agent. She doesn't have to be for what she does.

And my guess would be that her information may not have all the necessary disclosures for the non-licensed public.

But offering to provide information in her role to a non-licensed person, can be seen as a solicitation for business.

 

[DHK]

Any idea whether this affects the Career Sales division (the formerly home service division)? They still list openings for CSSD agents on their website.

No idea. I asked the same thing on LinkedIn.

 

[LostDollar]

It's a possible compliance consideration.

The reason it matters is that it can be seen as a solicitation for business, and last I recall, @Sheryl J Moore is also not a licensed agent. She doesn't have to be for what she does.

And my guess would be that her information may not have all the necessary disclosures for the non-licensed public.

But offering to provide information in her role to a non-licensed person, can be seen as a solicitation for business.

You need to read her book. That is what she does, provide information about annuity products. And, according to her book, she holds a license, but does not use it, even for her own product purchases. I am pretty confident she knows what she legally can and can not do.

And if she passes on to me copies of American National's current brochure and specification sheets, I figure those would have all the relevant consumer disclosures.

If I really wanted that info I could take the discussion totally off site where she and I would not be being second guessed. In addition for American National only, I believe I have a way I could get that info directly from them, even though I wasn't able to find a current brochure on their site.

 

[DayTimer]

You need to read her book. That is what she does, provide information about annuity products. And, according to her book, she holds a license, but does not use it, even for her own product purchases. I am pretty confident she knows what she legally can and can not do.

Not for nothing @DHK but that's a sick burn right there lol

 

[DHK]

Not for nothing @DHK but that's a sick burn right there lol

And yet, the context of this forum is usually reasonably assumed that posters here are insurance agents and that is key information for anyone to have.

When making an offer to help, it's important that they know that LD is not a licensed agent.

No I haven't yet read Sheryl Moore's book. Too busy creating my own content.

 

[DHK]

I figure those would have all the relevant consumer disclosures.

I cannot pretend to know everything that Sheryl does and how she does it. She's one of the most respected professionals who does what she does.

That being said, I know that IMOs get a ton of analytics and when they communicate those product specs to agents, they do NOT have those disclosures.

They are not meant for the public.

It is a key compliance consideration.

I trust that she does not just 'regurgitate' stuff from the insurance companies directly - although I'm sure she has that stuff.

In addition, just because she has A license does not mean she is licensed for your state.

Licensed professionals understand some of these nuances. And while she isn't selling, it's still important to know who she is dealing with.

 

[LostDollar]

I cannot pretend to know everything that Sheryl does and how she does it. She's one of the most respected professionals who does what she does.

That being said, I know that IMOs get a ton of analytics and when they communicate those product specs to agents, they do NOT have those disclosures.

They are not meant for the public.

It is a key compliance consideration.

I trust that she does not just 'regurgitate' stuff from the insurance companies directly - although I'm sure she has that stuff.

In addition, just because she has A license does not mean she is licensed for your state.

Licensed professionals understand some of these nuances. And while she isn't selling, it's still important to know who she is dealing with.

It's academic at this point. I just obtained the product specifications she offered to provide me with from an agent website that gathered less information about me than she would have about me here. The information that was important to me has not changed and I have no need for further info about them. You don't need to worry about her getting in any trouble on my account.

 

[Sheryl J Moore]

Should I choose to ask, She did offer help to readers of one of her books, which @MTC recommended and I have purchased. I can ask her one or two questions via PM here or to her business email on that basis, and in that communication make it clear I am a reader of her book, not an agent that can afford to purchase her business services.

She has also made it quite clear she WILL NOT recommend specific carriers or products, which is why I did not attempt to address her specifically when I originally started a thread to ask agents here about the accumulation potential for the American National ASIA annuity (or to make my comment above questions instead of comment). Her passion in regard to annuities is similar to one of yours with life insurance, education.

I did not put my normal caveat on my comment above because in my very first sentence of the comment I used the word purchase, which I thought was an adequate expression of intent as opposed to agent, FMO, or selling.

Age and new financial constraints not present in January make purchasing an American National FIA much more problematic for me now than it was in January. Additionally I have to consider two of Stan's comments.

If you can't explain it (the annuity you are considering) to a 9 year old (no offense to 9 year olds) --- I don't remember the rest word for word, conceptually its -- it is probably not a wise purchase for you.

And

Bonuses are candy for the stupid. There are only so many pennies in the dollar.

Stan's 2 comments raise significant red flags for me relating to the ASIA 7 now. In January with higher american National 5 year MYGA rates and a simple ASIA 7 structure and not knowing some financial events that were to come, an American National 5 yr MYGA coupled with a 7 year flexible premium FIA would have been quite useful for my retirement financial planning. Now they're not. And the question soon becomes academic because of my age.

So, I don't intend to pursue understanding the American National annuities with her because it will be a waste of time for both of us.

For the past several weeks while studying out flexible premium annuities, I have off and on been considering whether there are any generalized annuity concept questions I can ask her to benefit from her knowledge and experience. So far I have not come up with anything except one question which would be a very large ask and I am not yet sure I really need.

A couple of flexible premium annuity questions are developing in my mind, but I think they are probably more agent product and experience specific than a generalized question she would care to comment on.

Understood. I appreciate you.

 

[Sheryl J Moore]

Because he and I have communicated via PM about secondary market annuities

And because I have begun a very high percentage of my posts for the last 4 or 5 years on the site with "Caveat, not an agent".

In addition the regular frequent posters in the annuity subforum have seen my posts asking for help regarding carriers or product purchases and know I am not an agent. I think I have pretty well used up that avenue of potential purchase help. I will say the agent I finally found to help me with my last two purchases was impressed with my product choices.

If I was an agent, I might consider asking you if I could purchase copyright rights to one of your annuity agent names (or ask you to come up with another one for me.) I was particularly taken with K the AS.

I appreciate your explanation. Thank makes sense! Thank you.