Best Direct Contracts for FIA'S

[Larry Tew]

Im not contracted so Im not 100% sure. Im fairly certain they are middle of the road to low compared to the industry overall. I would guess they arent the best but they arent the worst.

I think Larry Tew is contracted with them and has sold a few of their IAs in the past.

Midland's comp is average.

I am. JN lacks some of the bells and whistles, but they have solid products, commission is fair, and they've never reduced a cap on an in-force annuity. It's unlikely I would ever have to go to a client apologizing for putting them with JN.

Additionally, their service is great both internally and even with the external people.

 

[scagnt83]

and they've never reduced a cap on an in-force annuity. It's unlikely I would ever have to go to a client apologizing for putting them with JN.

That is a huge selling point right there. Renewal rates are usually much more important than first year rates. I did not know that they have never reduced caps on renewals, great info Larry, thanks.

One reason I like Gafri is that they have one of the best renewal histories in the industry. I have found that AE has strong renewals too.
NWL always reduces renewals on the second year, but it usually stays fairly constant after that, and they are still strong in comparison to the overall IA market.

Midland has had decent renewal rates.... but NA has been awful!! I will never sell another NA annuity ever again.

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I've got a case that is going to push the %, but client still has good liquidity and income. Client is sending letter that highlights reasons for wanting, etc. Hopefully, it'll go through because they really like the product.

Out of curiosity what product do they/you like from Midland?

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If it's the former, you probably have a lot of options.

I agree. Most carriers allow agents to deal directly with them for everything except the initial contracting. They have internal sales people, internal case managers, etc. and all are available for agents to utilize.

Now some IMOs do not want agents to deal with the carrier directly. But they can go to hell imo. If I want to deal directly with the carrier I am going to deal directly with the carrier. If the IMO wants my business they can get over it, or release me and I will find a new one who doesnt bother me about running my business how I want to.

 

[jmarkk1]

That is a huge selling point right there. Renewal rates are usually much more important than first year rates. I did not know that they have never reduced caps on renewals, great info Larry, thanks.

One reason I like Gafri is that they have one of the best renewal histories in the industry. I have found that AE has strong renewals too.
NWL always reduces renewals on the second year, but it usually stays fairly constant after that, and they are still strong in comparison to the overall IA market.

Midland has had decent renewal rates.... but NA has been awful!! I will never sell another NA annuity ever again.

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Out of curiosity what product do they/you like from Midland?

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I agree. Most carriers allow agents to deal directly with them for everything except the initial contracting. They have internal sales people, internal case managers, etc. and all are available for agents to utilize.

Now some IMOs do not want agents to deal with the carrier directly. But they can go to hell imo. If I want to deal directly with the carrier I am going to deal directly with the carrier. If the IMO wants my business they can get over it, or release me and I will find a new one who doesnt bother me about running my business how I want to.

I like the Income Vantage 10

 

[CFP83]

Now some IMOs do not want agents to deal with the carrier directly. But they can go to hell imo. If I want to deal directly with the carrier I am going to deal directly with the carrier. If the IMO wants my business they can get over it, or release me and I will find a new one who doesnt bother me about running my business how I want to.

PREACH!! CAN I GET AN AMEN UP IN HEEER?

You and Tahoe have heard me rant enough about this same topic...

Just get that RIA all fired up now and you will be a true maverick indy

 

[Gulfman]

Forgive a newby but ..."What is a direct contract with a FIAS?"

 

[Tahoe Ray]

Forgive a newby but ..."What is a direct contract with a FIAS?"

Fixed indexed annuities. The thread is about going direct to the carrier instead of through a wholesaler/imo.