Anyone sell the new Allianz Annuity?

May 13, 2019

  1. IsaacA
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    IsaacA Expert

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    Hello.
    I'm wondering if anyone has had any luck with Allianz Legacy by Design.
    I haven't.
    It seems like a good product on paper.
    Just getting you agents to jump in has been difficult.
    I want your thoughts. Pros? Cons?
    Maybe you've sold millions and I just don't understand it.

    Thanks,
    Isaac
     
    IsaacA, May 13, 2019
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  2. IsaacA
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    Guess not...Well, It's what I figured.
     
    IsaacA, May 20, 2019
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  3. CALTCAgent
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    What does this product do ?

    It looks like a 25% bump up of the RMD's only ?
     
  4. IsaacA
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    Kinda of. RMD gets taken out. 20% held for Tax. 25% Bump up on that amount for DB.
    Worst case scenario you have your original principal for DB. Policy can grow based on indexes with the hope of a higher DB.
    Pretty unique for the RMD space.
    Assuming for client's who have a big problem with RMDs and don't want to track it so much.
    Allianz does everything on their side.
    I just haven't seen too much interest.
    I thought I'd have a ton of interest.
    It's very specific....RMD specific.
     
    IsaacA, May 21, 2019
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  5. Tahoe Ray
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    Sounds similar to Athene Benefit 10 that's been out for a pretty long time...not exactly the same but an RMD play that at least keeps you relatively whole (depending on age of purchase).
     
  6. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Exactly. Athene copied the 222, now Allianz has a knockoff of the Benefit 10.
     
    scagnt83, May 22, 2019
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  7. CALTCAgent
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    Don't most companies have a form that can set up RMD's to go automatically ? If that is what you mean by tracking it ?
     
  8. IsaacA
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    IsaacA Expert

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    I've looked into the benefit 10 a bit and don't think they're the same product. I'm still not done with the research.

    Yes, most companies do have that.
    But, this product puts the RMD in a separate annuity contract and allows it to grow based on the index.
    That's what I mean by Allianz doing everything on their side.
     
    IsaacA, May 22, 2019
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