Anyone sell the new Allianz Annuity?

[IsaacA]

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]

Guess not...Well, It's what I figured.

 

[CALTCAgent]

What does this product do ?

It looks like a 25% bump up of the RMD's only ?

 

[IsaacA]

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.

 

[Tahoe Ray]

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.

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).

 

[scagnt83]

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).

Exactly. Athene copied the 222, now Allianz has a knockoff of the Benefit 10.

 

[CALTCAgent]

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.

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 ?

 

[IsaacA]

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.

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 ?

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.