BEST annuity leads money can buy?( other than referrals/seminars)

[Travis Price]

It's a perfect add-on but very few Medicare agents do it.

If you really want to learn, Google is your best friend (outside of actual experience or a mentor).

Sites like immediateannuites.com, annuitygator, blueprint, annuityadvantage, etc. are mainly built for consumers. So, like your site(s) which are designed to educate a consumer with plain language and basic calls to action, you'll find the same on the annuity side.

Don't buy annuity books or any of that...most of them are crap. You can also look into why annuities are bad which can help give you the other side of the coin and can assist with objections.

You can always DM me if you have specific questions. Once you learn the basics, you'll start to see the fit.

Alternatively, you can attend my course on how to find clients who know nothing about annuities, aren't really intelligent, and will transfer their 401k to a carrier that an agent recommended who was originally selling them life insurance.

10k per seat.

Good luck!

I'll definitely need a mentor, but I'll do some essentially research first.

Anyone that knows my business knows I don't like to use people like marks. So, figuring out market position and marketing is super important to me

 

[Tahoe Ray]

Anyone that knows my business knows I don't like to use people like marks. So, figuring out market position and marketing is super important to me

This is super important to a lot of agents. Not enough, but many.

Start w/ SPDA (single premium deferred annuities). Colloquially, they'll be called MYGAs (multi-year guaranteed annuity which has the same rate as the surrender in general) or fixed annuities (which may have variable fixed rates...that's clear as mud, right?)

They are the easiest to understand and function a lot like a CD (without FDIC so stay with higher rated carriers) and fit a Medicare client base well without going into a ton of planning/taxes/etc.

 

[Allen Trent]

I'll definitely need a mentor, but I'll do some essentially research first.

Anyone that knows my business knows I don't like to use people like marks. So, figuring out market position and marketing is super important to me

Anyone that knows my business knows I don't like to use people like marks. So, figuring out market position and marketing is super important to me

That is a perfect mindset to have. Your medicare clients have large amounts of money sitting in bank accounts & CDs at low interest rates. You can add MYGA annuities that operate very similar to CD in terms of interest & duration. Usually pay decent amount better than CDs to the client & commission are pretty low compared to years past & other annuities like index & variable. so you can be confident you are not targeting seniors for compensation. Shorter durations might only pay 1-1.5% & some longer like 5-8 years might get to 3+% these days. Just focus on their "extra lazy money" they don't use to lay bills with or have earmarked to be spent in the upcoming handful of years.

You may also want to then learn a bit about single payment life insurance. For those that truly don't need the asset to live on, the tax free life insurance can be a better place than annuity at death.

If you get comfortable at that, you could venture into some fixed index annuities or income annuity when the situation warrants or partner with someone to handle the more complex stuff

Good luck.

 

[bill3173]

I will be doing seminars as well and I have a very good system for referrals I'm working on as well as looking at other alternative systems, but I'm really just looking for leads right now-Not only for myself but also for several hundred agents in an annuity teaching group I run. I have looked into a ton of different annuity lead companies and I am at a loss because the style of selling that I utilize is to go into the house on the premise of a life insurance appointment, flip the script a second I detect money, and utilize a network of notaries in my area and a mobile printer to walk out a couple of hours later with everything signed, sealed, delivered, and done. I am very good to my clients and remain very good friends with all of them and it's not like I'm tracking them or anything but it's actually beneficial if they've never even heard the word annuity before because they are much easier to sell. Leads tend to have clients that are way too educated and tend to have advisors, etc. where what I'm really looking for is someone that doesn't even know what an annuity is and just wants to know if there's a way to protect his 401(k). Has anybody ever heard of anything like that?

What is the network of notaries for? I've placed dozens of annuities over the last few years, but have never used a notary for that purpose. An Army of notaries sounds intimidating.

 

[scagnt83]

What is the network of notaries for? I've placed dozens of annuities over the last few years, but have never used a notary for that purpose. An Army of notaries sounds intimidating.

I think he means for the transfer paperwork when the transferring company requires the form to be notarized. There are online notaries for this now if its needed immediately.

 

[CALTCAgent]

I like to read a book myself, may not be for everybody though. Just a starting point to give you broad knowledge to get started. Then of course google and other sources of information too. I think I read this book:

 

[bill3173]

An annuity with a Lifetime Income Rider will grow the Income Account at 6%-10% depending on the Rider, then pay an income for life that is in the range of 5%-6% of account value.

It guarantees what most retirement plans estimate. So it can be very effective for a portion of a persons retirement savings.

Good to hear you say this about the income rider. I wrote several of these up until a few years ago, when the cost of the rider went up. The guaranteed accumulation, with a .5-.75 rider cost was excellent.

 

[scagnt83]

Good to hear you say this about the income rider. I wrote several of these up until a few years ago, when the cost of the rider went up. The guaranteed accumulation, with a .5-.75 rider cost was excellent.
Do you know a carrier with an agreeable rider cost now?

All carries have increased the cost on Riders over the past few years. Low rates so they have to make up money somewhere.

Athene has a strong Rider on their Agility Annuity. No fee, but Caps are slightly lower than other Athene products. It comes in a 7y and 10y. Income cant be started until the end of the surrender period though.

AIG and GA both have strong riders right now that allow income to start prior to y7. But they are both just under 1% on the fee. Id say 1% is about average now in the market for income rider fee.

If someone is buying for the Rider and knows they will use it, I dont get too hung up on the fee since it doesnt affect the Rider. But obviously you want the liquid account to be competitive as well. Still a strong product imo even with a 1% fee on the Rider.

 

[DHK]

Income cant be started until the end of the surrender period though.

Guaranteed lifetime income doesn't start until after 10 years - regardless of 7 year or 10 year contract.

They still allow up to 10% of the original contribution to be withdrawn each year during the surrender period though.

To me, based on that info, it makes very little sense to sell the 7-year contract.

 

[Tahoe Ray]

Guaranteed lifetime income doesn't start until after 10 years - regardless of 7 year or 10 year contract.

They still allow up to 10% of the original contribution to be withdrawn each year during the surrender period though.

To me, based on that info, it makes very little sense to sell the 7-year contract.

Agility 7 has a 7-year wait for income. Not 10.