Annuity Companies

[insuranceexec]

In good conscience, I cannot place a client in a six year product that has the same rate as the five year product -- even if it means giving up 1% in commission.

Unless you think rates will be going down and the client is looking to get the best rate for as long as possible.

 

[padthaiforlunch]

lol. Hard for them to get much lower. What's the FF rate? Target is 0.0% - 0.25%

 

[Bruce3301]

In good conscience, I cannot place a client in a six year product that has the same rate as the five year product -- even if it means giving up 1% in commission.

OKay, then put it in the Midland 3, 4, or 5, yr product.. I am not a Midland stooge, but they are a very good company, is my only point.

 

[ims01]

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!

I'll preface my comment with the disclosure that I am an IMO and therefore biased. But, I am not soliciting your business.

Why do you want to go direct? The L,H & A side of the business is predominately IMO distribution. One company can not offer a sufficiently broad range of products to cover every need. An IMO should have many companies available and can help you pick the one that is best for each circumstance.

Also, with a direct contract you will be expected to produce a certain amount with each company with which you contract. An IMO will look at your aggregate production. You should be able to get comp levels as good or better than direct contracts. A good IMO will also provide a much greater level of service than a carrier will.

All things considered there are more advantages in going thru an IMO than disadvantages.

 

[cloisbarton]

I'll preface my comment with the disclosure that I am an IMO and therefore biased. But, I am not soliciting your business.

Why do you want to go direct? The L,H & A side of the business is predominately IMO distribution. One company can not offer a sufficiently broad range of products to cover every need. An IMO should have many companies available and can help you pick the one that is best for each circumstance.

Also, with a direct contract you will be expected to produce a certain amount with each company with which you contract. An IMO will look at your aggregate production. You should be able to get comp levels as good or better than direct contracts. A good IMO will also provide a much greater level of service than a carrier will.

All things considered there are more advantages in going thru an IMO than disadvantages.

The key is not only shop the IMO, but shop the marketer. There are all levels of marketers. Interview them and make sure they can offer something to your business.

 

[insuranceexec]

The key is not only shop the IMO, but shop the marketer. There are all levels of marketers. Interview them and make sure they can offer something to your business.

I am constantly on the phone with people who are doing just that; Interviewing me. Your information is right on target.

I am also able to gauge the intelligence level of he person I am talking too. I mean wen somebody calls in and they want to know about ABC's Indexed annuity, and they do not know what a crediting method is; your in trouble!...........LOL

I simply say: "Maybe its time you consider a MYGA?"....LOL. Just Kidding.