Annuities

[Zmurre]

I have also been seeing a lot of people in the annuity business write the bulk of their business with Athene. Everyone speaks highly of this company, my goal is to get into annuities master the fixed indexed annuity side, and have my top go to companies/company that I master learn and write most of my business with and if I have a special case that the company may not be best for pull the others out of the bag when needed. I dont want to start out with all these different companies. On the insurance side im contracted with many different companies i dont write with all of them I have my go to comoanies that are my top however if there is a health conditions or a case thats unique I pull out the others when needed if its the best fit.

 

[scagnt83]

You certainly dont need every annuity product out there. But having a solid 3-4 carriers as your go to options usually works well. But stuff changes with time. Not too long ago Athene didnt even exist. They bought Aviva's annuity book to get started ... and at that point nobody was selling Aviva anymore... but about 5 years before that, Aviva was killing it with FIA sales and was a standard go-to in the industry for many agents. Things can change quickly with competitiveness of new rates/benefits.

Dont get me wrong. Athene is a solid carrier who currently has very competitive products. Especially if you are selling annuities with Income Riders. But having a competent IMO who is able to help give suggestions for cases, especially when your go to products do not fit well, is a very valuable resource to have in your bag.

 

[pfg1]

I second or third FIG. Good company and they have all the main carriers. Street commission will vary by carrier, product, amount, age, etc. If you plan to get into that area of the business, do yourself a favor and learn as much as you can about it.

 

[mfrumkin]

scagnt83 is 100% correct. Find 3-4 good companies that you are comfortable with. I have been in the 403(b) business since 1979 and products come and go. Right now I use LSW and Midland for 403(b) and Allianz and Athene for non 403(b).

 

[IsaacA]

Athene can vary.
Depends on what the solution is. Find yourself a great IMO who will shop the marketplace.
Three key things when looking at lifetime income. Bonus (If any), Roll-Up, and Pay out %.
Everything else is bells and whistles. Some important some not.
I like keeping things simple on the accumulation side with a participation rate on the S&P 500 APP.
Athene has different or propriety indexes that can be confusing, but illustrate well. I like Athene's Janus for illustration purposes.

 

[LostDollar]

I can second that FIG and Gradient are both good options to help with annuities. Both will start you at street comp per the norm.

I also recommend getting product info straight from carriers. However, IMOs can be very useful for finding a product that fits a specific case. Rates and benefits change monthly in the annuity industry, one month carrier A might be the best fit, next month carrier B might beat carrier A suddenly because of rate changes. Or maybe carrier B introduced a new product or feature that is a good fit for a specific case. A good IMO can help with shopping the market for the best product.

What facts about a case does a person present to an IMO when asking for case help?

 

[LostDollar]

Note: This is a 4 1/2 year old thread, it just matches up very closely with current questions I have about the reputation of an IMO and evaluating annuities for a specific situation.

 

[Newby]

What facts about a case does a person present to an IMO when asking for case help?

What is the goal with the money?
What is the age of the person?
What is their family situation?
What is their financial snapshot?
Do they still work and have an income?
And if so, at what date do they plan to retire?
Are they more about guarantees or would take some speculation in exchange for potential higher gains?

 

[LostDollar]

What is the goal with the money?
What is the age of the person?
What is their family situation?
What is their financial snapshot?
Do they still work and have an income?
And if so, at what date do they plan to retire?
Are they more about guarantees or would take some speculation in exchange for potential higher gains?

Thank you for taking the time to make this post for me.

(I refound and printed my "Newby Nugget" in case it disappears. )