I have been out of the annuity sales market for a couple of years so my information is quite dated.
I was hoping someone knowledgeable about current annuity products could answer a few short questions. Keep in mind that I am interested in Fixed/Indexed SPIAs with no annuitizing but with a Life Income Benefit Rider:
1) What is the highest overall agent commission rates (up front + trails, so Option 2 or Option B)? Here, I am looking for products with less up-front but with trail commissions centered around a 5-year period.
2) What is the best interest credit/"roll-up" rate for the client's account?
3) Assuming the primary reason people purchase a SPIA is for retirement income with death benefit protection, what is the average withdrawal rate from the client's principal? Do clients in retirement typically withdraw 3% annually from their annuities? 5%? 8%? More?
Thanks in advance!
I was hoping someone knowledgeable about current annuity products could answer a few short questions. Keep in mind that I am interested in Fixed/Indexed SPIAs with no annuitizing but with a Life Income Benefit Rider:
1) What is the highest overall agent commission rates (up front + trails, so Option 2 or Option B)? Here, I am looking for products with less up-front but with trail commissions centered around a 5-year period.
2) What is the best interest credit/"roll-up" rate for the client's account?
3) Assuming the primary reason people purchase a SPIA is for retirement income with death benefit protection, what is the average withdrawal rate from the client's principal? Do clients in retirement typically withdraw 3% annually from their annuities? 5%? 8%? More?
Thanks in advance!
