I noticed that, my main 3 carriers for annuities are Fidelity, National Western, and Equitrust, I like the Delaware Life Ray was talking about, I might add that to my bag.
I noticed that, my main 3 carriers for annuities are Fidelity, National Western, and Equitrust, I like the Delaware Life Ray was talking about, I might add that to my bag.
- 10,829
Unfortunately the shorter the surrender on the product the worse the renewals will be. What did she start at? Was it the S&P or the Global strategy?
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Yes, that is a weird quirk but if you dont sell an IA on a bonus then it usually isnt a big deal. (unless you plan on moving them to a new product right when the surrender period ends)
NWL publishes all of their renewals. So you can look up on their website what renewal rates have been for the Ultra Value historically. It will always drop from the first year rate. But most Ultra Value contracts have maintained at least around 75% PR if you look at the historical renewals.
If you are setting the expectation that the product will keep the 1st year rate then you are screwing up. It even says in the app that is a first year rate. Look at the renewal history and set expectations based off of that.
Oh I always talk about renewal rates, and talk about rates may rise, just didnt think their asset rate would increase so much, I cant see renewal rates not following a similar pattern. Of course you are more experienced than I in this area.
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I have 8 FIA's currently in U.W with National Western and I am pulling them all on Monday morning....
I have been doing a lot of volume in this business for the past 11 years....never have I experienced a more unorganized group of people than what I have dealt with at National Western. They are even worse than Foresters, and that is saying a mouthful as their home office is horrible at best.
I have been doing a lot of volume in this business for the past 11 years....never have I experienced a more unorganized group of people than what I have dealt with at National Western. They are even worse than Foresters, and that is saying a mouthful as their home office is horrible at best.
Bumping this up...
With all the recent changes (lowering of rates caps spreads) what A rated carrier products are you guys looking at now for potential accumulation?
I have a client I am working with that has a small amount in an old 401k. Prob around $35-40k. Would be looking for a 10yr product, no fees, and decent penalty free withdrawal options. He would likely leave the product alone first 5yrs to accumulate, then withdraw it down systematically with max penalty free after that.
With all the recent changes (lowering of rates caps spreads) what A rated carrier products are you guys looking at now for potential accumulation?
I have a client I am working with that has a small amount in an old 401k. Prob around $35-40k. Would be looking for a 10yr product, no fees, and decent penalty free withdrawal options. He would likely leave the product alone first 5yrs to accumulate, then withdraw it down systematically with max penalty free after that.
- 10,829
Athene Target Horizon with a 2.55% Spread on S&P 500 5% Risk Control.
AE Traditions Gold with a 1.55% Spread on S&P 500 Dividend Aristocrats 5% Risk Control.
Im not sure what Americo Legacy is at right now, but it is probably another good choice.
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This. I've been pitching the hell out of this
Thanks, yes that looks good
- 10,829
I wrote a handful of policies with them last year. I was a big fan of their rates/spreads... and the ones I have wrote have performed well. But I agree 100%, almost every case was effed up somehow by them.
I have never had a more negative experience dealing with an annuity carrier!
The sad thing is that they still have good looking products. And they have probably one of the best income riders for a single payout.
I have never dealt with a more F%CK#D up insurance company!!!!
