Do you know if any of those other annuities allow additions? I would look into that first....
Do you know if any of those other annuities allow additions? I would look into that first....
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Tahoe Ray said:
Would you get paid commission on that?
Point taken, but your comp on a 87yo would be minimal and it may create some goodwill. There is going to be a seven figure inheritance in the future so maybe it's an opportunity to meet those beneficiaries. You know that the Ed Jones rep in the picture has that thought....
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Tahoe Ray said:
I was having the same thought you were having. If I read the post correctly most of those policies had at least 3% minimum guarantees and one had a 4% minimum guarantee another item to look at on those old annuities is when is the maturity dates. But it would be difficult to beat what he currently has and even not being in California remember someone at some point may be asking the question why move from one annuity with no surrender charges and 3 or 4 percent minimum guarantees to what a new annuity with a 1 percent minimum guarantee and new surrender charges.
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I didn't end up touching any of the annuities. They were too strong.
I did however move a CD where he was making 0.7% interest into a 2-year annuity @ 2%...made myself a nice 0.5% commission on it
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Tell Glenn I said hi and don't forget to put the soap on a rope. 
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For future reference Americo offer a 5 year index annuity up to age 90. Straight forward simple product. I would have to look up basics but it is either a 1.5% or 2% on 100% minimum guarantee, so that is not to bad with the opportunity to earn a little bit more on the index side. Commission is 3%.
NickH
New Member
I would have strongly suggested that you look at American National's "Citadel 7" product. Rate is locked for the first 3 (2.10%) years and your comp would be 3.50%.
They don't have an age limit on who the owner is, just the annuitant & it pays full account value at death on either the "owner" or "annuitiant".
So you would also want the owner to be the bene, and use the contingent as the true bene's.
They don't have an age limit on who the owner is, just the annuitant & it pays full account value at death on either the "owner" or "annuitiant".
So you would also want the owner to be the bene, and use the contingent as the true bene's.
