Bankers Life EIA

[///MJay]

Been a while since I've been on the forum. I was out delivering a death claim Thursday and we started the on the topic of ways to maximize the account. The client was very standoff-ish and not very interested in talking about it. She even comes out and says well I'm working with someone. I let her know that it's no problem and the whole deal, we have about an hour conversation by the time its all said and done and now I'm back in the door a week from now. A big part of the reason for this is that the "other guy" is with bankers life and has her 401k in an EIA as of 4/09. I opened it up and showed her the participation rate of a whopping 34% and now she's not so pleased. Also on the min guarentee scale it takes 15 years to get her principle back. Any way is any one familiar with Bankers life and the EIA they offer? I told her I will need to read the entire contract to explain it to her when I come back. Just looking for some insight on this. I have heard of some obsurd EIA contracts but 34% is the lowest I've seen.

Thanks
Jason

 

[insuranceexec]

Been a while since I've been on the forum. I was out delivering a death claim Thursday and we started the on the topic of ways to maximize the account. The client was very standoff-ish and not very interested in talking about it. She even comes out and says well I'm working with someone. I let her know that it's no problem and the whole deal, we have about an hour conversation by the time its all said and done and now I'm back in the door a week from now. A big part of the reason for this is that the "other guy" is with bankers life and has her 401k in an EIA as of 4/09. I opened it up and showed her the participation rate of a whopping 34% and now she's not so pleased. Also on the min guarentee scale it takes 15 years to get her principle back. Any way is any one familiar with Bankers life and the EIA they offer? I told her I will need to read the entire contract to explain it to her when I come back. Just looking for some insight on this. I have heard of some obsurd EIA contracts but 34% is the lowest I've seen.

Thanks
Jason

I am very familiar with them. What would you like to know?

 

[Ichiban]

Yes, Par rate and Spread strategies have not been attractive for a while now. Caps strategies with 100% Par seem to be the only attractive strategies at the time. Some of the longer term strategies are looking especially good like the 2 year Monthly Averages with 20% Caps etc.