Annuity Companies

[Insurance Phoenix]

I own an independent p/c insurance agency. I want to offer fixed annuities to my clients.

Any suggestions on good annuity providers I can contact for contracting? My state is Arizona.

I do not want to sell through some other agent or broker. I'd like to sell directly from the annuity company, if possible.

Any ideas....thanks in advance!

 

[insuranceexec]

I own an independent p/c insurance agency. I want to offer fixed annuities to my clients.

Any suggestions on good annuity providers I can contact for contracting? My state is Arizona.

I do not want to sell through some other agent or broker. I'd like to sell directly from the annuity company, if possible.

Any ideas....thanks in advance!

Midland National is a good company. You have a direct contract and they have some very good products. I can set you up with them if you would like.

I have been on the Life/ Health side for about nine years or so now and just hired a guy on the P&C side to run my book of business. I just recently got my P&C license so that I may be able to receive the comp. Give me a call I would like to chat

 

[ChrisMiller]

I can't really recommend any particular annuity provider to you because it depends on the types of annuities you are looking to offer.

If you are looking for Fixed Annuities then you may want to contact NAFA (National Association For Fixed Annuities) and see if they can refer you to someone.

Make sure you check out the provider and verify the needs of your clients to make sure you have a good fit.

Happy Holidays!
Chris Miller

 

[Todd King]

Aviva has some good stuff that just came out. It was developed with the new/possible SEC rules in mind. You can try to go direct with them, don't know if they do or not. If you can't, or if you can only get street level with them then let me know, I can get you above street level. I know you say you don't want to go through an FMO/Broker, but sometimes you actually can get the better deal that way. Call me at your convenience if you want.

 

[insuranceexec]

I spoke of Midland National because he stated that he wanted a direct contract, and did not want to sell through another agency or broker. With out documented proof of past production it is near impossible, unless your uncle runs the company, to get a direct contract with most all companies.

With that being said I think you would be doing your clients a diservice by only selling companies that you can go direct through.
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Aviva has some good stuff that just came out. It was developed with the new/possible SEC rules in mind. You can try to go direct with them, don't know if they do or not. If you can't, or if you can only get street level with them then let me know, I can get you above street level. I know you say you don't want to go through an FMO/Broker, but sometimes you actually can get the better deal that way. Call me at your convenience if you want.

What kind of above street comps can I get from you on the Income Select Bonus with Aviva?

 

[padthaiforlunch]

MNL is very competitive on MYGA's.

You also get a deposit in the favor bank if you let another agent refer you, since they will get an override on your commissions.

Besides exec, and myself, there are several agents on this board who would be happy to recommend you.

If you want to offer FIA's, then you will prob. want to get contraceted with an FMO.

Might as well pick someone local, if you can. But be sure pay a visit and meet their "case experts." Find out how long they've been doing it and ask them to tell you about a challenging case the did.

I recently dropped an FMO after I inquired about a SPIA and my rep, without hesitation, blurted that Allianz is ALWAYS the best. -- yeah, for his commission.

 

[Todd King]

What kind of above street comps can I get from you on the Income Select Bonus with Aviva?

I can get you 8.5%. It's only .5% above street, but that could still equal big money based on production. Here's another thing though, my philosophy is this...if I move up, so do you. I'm not interested in making big overwrites, I'm interested in making alot of small overwrites...the Wal-Mart philosophy ya know?

 

[insuranceexec]

I can get you 8.5%. It's only .5% above street, but that could still equal big money based on production. Here's another thing though, my philosophy is this...if I move up, so do you. I'm not interested in making big overwrites, I'm interested in making alot of small overwrites...the Wal-Mart philosophy ya know?

Todd,


I sent you a pm. In trying to help me; maybe I can help you.

 

[Insurance Phoenix]

Midland National is a good company. You have a direct contract and they have some very good products. I can set you up with them if you would like.

I have been on the Life/ Health side for about nine years or so now and just hired a guy on the P&C side to run my book of business. I just recently got my P&C license so that I may be able to receive the comp. Give me a call I would like to chat

Hi William,

Is there an advantage to one or both of us to have you "set me up" with them?? I have no problem going thru someone if it helps you. But would it still be a direct contract?

I took note of one comment (someone made) that it's hard to get direct annuity contracts. The same is on the P/C side so understand that issue.

I checked Midland's website and do not see any fixed annuity rates mentioned anywhere. Was curious why? Or is that only available to contracted agents.

Thanks for all the responses and help.
Gary

 

[padthaiforlunch]

Again,

If another agent refers you, they will get an override (1%) on your business. You will still be direct.

Midland National is owned by Sammons and is a sister company of North American. Aside from name, the products are identical. The benefit you get from going direct is an extra 1/2% commission. The drag is there are very long wait times when you call in.

Before you give away the override, I suggest you review the annuities forum and figure out who you want to befriend and get advice from in this arena.