Annuity with Small Inital and then Monthly

[HarryRenard]

No - I am not captive. I had already tried to get appointed with those two and was turned down due to credit (no Vectors or anything) just being below their credit score line.

Thanks for the advice all. I think we will end up putting her in a IUL as the minimum deposit seems to be an issue with most of the companies I had looked at ($5K min.).

Most companies lower the minimums for qualified money, is that an option.

In addition you could alway request an exception they aren't as easy to get as they used to be but are still available especially since the case you presented is just about 5k in 12mos.

*I dont see how an IUL is an option except for saving a commission.
Refer the case out to a short term product and roll it out in 3 or 4 yrs, who cares who writes it if they are your client. they stick with you because you got them what they wanted.

Here are some other carriers that will start with under 5,000

Am Gen ( NQ or Q)
American National (even will start w/$100 per Q)
AIL
Genworth ( Q)
LSW
MOO ( NQ or Q)
North American (Q)
Old Mutual
Sun Life

 

[0b1kanobee]

Great American is tuff to get appointed with. I was actually surprised I got appointed with them when I learned how strict they were.

 

[Norwayguy]

Great American is tuff to get appointed with. I was actually surprised I got appointed with them when I learned how strict they were.

Never realised that...I've never been turned down for an Appointment yet....I want to keep it that way. I'm actually surprised more carriers aren't stricter about submitting a piece of business to get appointed....I know I've fallen into the trap of thinking I want so and so product do the paperwork and then never sell the product....I've gotten better about it lately because I loathe filling out appointment paperwork.

 

[Larry Tew]

Never realised that...I've never been turned down for an Appointment yet....I want to keep it that way. I'm actually surprised more carriers aren't stricter about submitting a piece of business to get appointed....I know I've fallen into the trap of thinking I want so and so product do the paperwork and then never sell the product....I've gotten better about it lately because I loathe filling out appointment paperwork.

It's also expensive for a company to appoint agents. Jackson National uses a process where they give a new producer a producer number and access to the agent web site for information, product specs, illustrations, etc... but they don't actually appoint until an application is submitted. They tell you that when you submit a case, the background check, etc will be done at that time and to make sure all your affairs are in order. The catch is that if you know you have issues, you want to get things worked out prior to sending in a case. It would be tough to send a client's money to a company and have to go to him and tell him you couldn't get appointed.

 

[GAHEALTH]

Most companies lower the minimums for qualified money, is that an option.

In addition you could alway request an exception they aren't as easy to get as they used to be but are still available especially since the case you presented is just about 5k in 12mos.

*I dont see how an IUL is an option except for saving a commission.
Refer the case out to a short term product and roll it out in 3 or 4 yrs, who cares who writes it if they are your client. they stick with you because you got them what they wanted.

Here are some other carriers that will start with under 5,000

Am Gen ( NQ or Q)
American National (even will start w/$100 per Q)
AIL
Genworth ( Q)
LSW
MOO ( NQ or Q)
North American (Q)
Old Mutual
Sun Life

Customer doesn't want AmGen. Most of the others are not options for me. I checked with OM and all their Annuities that are available for GA have $10K minimum. I would run MOO but am having a problem with an error message in WinFlex - something about out of date interest rates for product and go to Interest maintainence (can't find that). Will have to wait until Monday to see if I can get that fixed.

The funds are Non Qualified.

 

[IncomeQuote]

standard life and accident has one for $100 per month EFT
TheStandard life also has one
American General for $50 EFT per month