Annuity Marketing

[Charpress]

Re: Annuity marketing ?

Jees.......some of you really need to take a more positive outlook on life. You may need to step down off that pedestal to see things from my perspective, but I've never found any satisfaction with hurling insults or accusations.....but... good luck with your next career !

Are you referring to this thread? I'm not seeing what you are seeing.

Some folks here are pretty anti-annuity. I don't happen to be among their numbers.

You need to get used to the idea that threads take on a life of their own and if your original question is lost in the fray, well, that is just the way it goes here.

 

[1manshow]

Re: Annuity marketing ?

6.9% is BS... maybe a C-rated carrier or something... Or perhaps an indexed annuity... There is some catch to a 6.9% rate...

Or maybe I just interpreted it as an insult ? Probably arrogance would be a better interpretation.

I really don't mind the hijacking, I think it's the arrogant, all knowing BS that gets my BP up a bit.

Hope you all have a nice weekend

 

[patch36]

Re: Annuity marketing ?

All the sudden Annuities are popular. The local State Farm folks are advertising the 6.2pct return, which is of course BS. It is only if you use the Income Rider and take it as an income stream as Charpress said.

Now that all the Financial Advisors have fallen flat on their faces, lost a lot of money for their clients, and FIA's just keep chugging along making a boring but reliable return, and NEVER losing money, they are now popular? I have saved the life savings of a lot of people in the last 5 years by putting them in FIA's. I have fielded the calls because they did not make the 10pct in the stock market their neighbor did, but now I am getting the calls thanking me for protecting and preserving their life savings from the 'Market'. Financial Advisors who put older people in the 'Market', do so for only one reason. The commissions. There is nothing suitable about putting anyone retired or near retirement in ANYTHING that can lose money or has Investment Risk. So what if your savings does not keep up with inflation. That is the fault of the government and artificially low interest rates.

I make my living selling Annuities. I have the licenses to sell Investment Products. I have chose not to for the last 5 years. I stay low key about FIA's because the Financial Guru's hate them, mostly because they don't understand them and they don't provide an income stream or add to their AUM, but that is another subject.

Now the snake oil Financial Advisors are advertising Annuities, and doing it in a misleading manner. 6.9pct interest? Not exactly, but with a little bait and switch, some fine print, and a slick brochure the Securities folks are discovering the safe harbor they should have been in all along.
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Really wasn't looking for critique on the product. FYI it is a 7 year product that is guaranteed @4.4% yrs 2-7 has a 7,7,7,6,5,4,3% surrender and is written with an A+ rated carrier. Not a bad deal in todays market. Thank God I will only have to answer to my clients for the products I offer and not some of you internet wanna be's.

Jees.......some of you really need to take a more positive outlook on life. You may need to step down off that pedestal to see things from my perspective, but I've never found any satisfaction with hurling insults or accusations.....but... good luck with your next career !


Otherwise, I have received some PM's that were very helpful. I am thankful for the genuine feedback.

You asked for them. You went from a 6.9pct guaranteed product to a 4.4pct product without catching a breath. There are lots of Multiyear Guarantee Products for shorter terms from lots of companies that have A+ ratings that beat what you are describing.

Your initial description left out a few important considerations which may have invited a little critical insight.
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...and 1man. I was ranting about the business in general, not your particular offering. It is probably a great product, and it is a whole lot better than than someone being in the investment markets, which I think is your point, and a good one.

 

[1manshow]

Re: Annuity marketing ?

Maybe my mistake was including product details at all ??? When I was looking for marketing feedback ?

So,now I have a dilemna, should I give back the 180K I've taken so far this month from clients or just refer them to some of these experts and hope they don't sue my ass for being so crooked ? And I'm a full time P & C guy !!

 

[SmartMoney]

Re: Annuity marketing ?

Most of the annuity rates you see that run from 7.2% compounded to 12% simple interest refer to guaranteed minimum returns, BUT ONLY FROM AN INCOME BUCKET. These high rates only apply if the person turns on income at some point. From my own calculations, someone interested in income is better off in a SPIA --but of course there is very little commission there.

You have to be very careful of these. They can work very well for the right people, and not at all well for others. The 12% plays well in advertising, but you can run afoul of every licensing authority out there if you don't make it clear what the rate applies to.

The very newest products with income buckets at least allow the income accumulation to go to beneficiaries. That was the biggest bad point with some products: you had to turn on income to ever realize the guaranteed minimum gains and if you did not take income, heirs got whatever the index brought, not the big percentages that sold the people in the first place. That has changed with some products.

Curious, What are some of the newer verisions of those products you are using that let the benes keep the income bucket on death? Aviva?
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I've read newsletters from two top annuity producers--Peter LePage and Larry Klein. Both failed when running newspaper ads offering good interest rates. However, I see banks doing it all the time. Go figure. LePage recommends direct mail and Klein recommends ads in senior newspapers to annuity owners offering them a free booklet about mistakes annuity owner make.

I would agree with Kleins recommendation. That is a program that works:

www.bookletprospecting.com

 

[Charpress]

Re: Annuity marketing ?

Curious, What are some of the newer verisions of those products you are using that let the benes keep the income bucket on death? Aviva?

First, just about everything has trade-offs. I was referring to the new Allianz product. It is very good on the death benefit side. I real gotcha with this product is that you don't get the guaranteed minimums in any year you take a withdrawal --and that includes RMDs. A real deal killer in many cases. There are strategies around this drawback, but Aviva can be better depending on what exactly fits the client. The trick is to be aware of all the moving parts.

I don't mean to sound like Aviva and Allianz are the only companies out there. They are just the most interesting at the current time because of the head-to-head competition.

 

[bluevoyager]

Re: Annuity marketing ?

Has anyone heard of or tried bhc marketing for annuities?

 

[SmartMoney]

Re: Annuity marketing ?

Has anyone heard of or tried bhc marketing for annuities?

Yeah, the master email spammers. They are larger and operate in volumne of agents and not service to agents...

 

[bluevoyager]

Re: Annuity marketing ?

Thanks for your help. What about game plan? Are there any reputable companies out there that will actually help agents sell annuities. I have tried a few but they all fail me.

 

[Mr. Bill]

Re: Annuity marketing ?

I think we've covered GamePlan before. They are owned by Allianz. Does that say "enough"?