Annuity insurers with whom I can directly contract without an IMO

[RSokol]

Thank you for all the thoughtful replies! Glad I joined this forum!

 

[scagnt83]

Guardian
Midland
Mass
Jackson National

All offer direct appointments with no IMO needed.

However, they all use a Regional Agency system. So you are still not dealing with the Home Office directly.

 

[scagnt83]

Most of my business is working with financial advisors so it was a fair assumption by the way you worded your post.

Indexed annuities don't have fees (unless you're talking about riders).

Your issue with doing this will be the favorable pricing that the annuity carriers can get on those components vs. the DIY approach.

The FIA carriers are the same ones issuing the MYGA. If you're trying to use a MYGA as the "zero bond" in this example, you're already playing catch up.

This x1000

Unless you get institutional pricing on Options, you are playing catchup.

Unless you get institutional pricing on Bonds, you are playing catchup.

Using a MYGA puts you behind because it's just being backed by Bonds (at institutional pricing). And a team of traders who trade Bonds all day every day.

There are FIAs that can capture up to 14% of the S&P 500 gain... with a 0% Floor and no fees.

It would be close to impossible do replicate that in the retail market using current Option and Bond pricing.

 

[Sheryl J Moore]

Jackson National also sells annuities agent direct. sjm

 

[TheBatman]

National Life, GBU, Manhattan Life...all contract directly, too. Unless I'm special.

 

[Special Agent]

This x1000

Unless you get institutional pricing on Options, you are playing catchup.

Unless you get institutional pricing on Bonds, you are playing catchup.

Using a MYGA puts you behind because it's just being backed by Bonds (at institutional pricing). And a team of traders who trade Bonds all day every day.

There are FIAs that can capture up to 14% of the S&P 500 gain... with a 0% Floor and no fees.

It would be close to impossible do replicate that in the retail market using current Option and Bond pricing.

Is that 14% of SP 500 gains take in to consideration dividend reinvestment as well? What FIA is this you speak of.

 

[Tahoe Ray]

Is that 14% of SP 500 gains take in to consideration dividend reinvestment as well? What FIA is this you speak of.

No FIA takes into account dividend reinvestment on the index.

He's talking about Oceanview.

 

[scagnt83]

Is that 14% of SP 500 gains take in to consideration dividend reinvestment as well? What FIA is this you speak of.

No. It is the normal S&P Index, not the Total Return S&P Index.

Oceanview is the carrier.

 

[scagnt83]

No FIA takes into account dividend reinvestment on the index.

He's talking about Oceanview.

Are there not a few Total Return options on the market still?

(not that it really matters, more of a marketing angle for a FIA since the options pricing take the dividend reinvestment into account)

 

[RSokol]

Guys - I am told by ECA that I need to buy E&O coverage $1mm/$1mm to sign up with them to sell MYGAs. They recommended CalSurance. Cost is about $450. Any other suggestions?