Can I Buy My Own Annuity

[ameneses54]

I'm A licensed agent (health, life and annuities) but I've never sold annuities.
I'd like to know if I can purchase for myself an annuity and how much is the current commission range for immediate annuities.

Thanks

 

[Newby]

I'm A licensed agent (health, life and annuities) but I've never sold annuities.
I'd like to know if I can purchase for myself an annuity and how much is the current commission range for immediate annuities.

Thanks

Yes you can sell yourself. Commission ranges from 3% to around 9%.
look up Insurance Exec here on the forum for an excellent resource and good contracts.

 

[insuranceexec]

Yes you can sell yourself. Commission ranges from 3% to around 9%.
look up Insurance Exec here on the forum for an excellent resource and good contracts.

I have to say, the count is now 2 votes of confidence from you, Scott. Thank you

To the OP: You can write your own annuities.

What are you needing? I will try and find it for you.

 

[HarryRenard]

I'm A licensed agent (health, life and annuities) but I've never sold annuities.
I'd like to know if I can purchase for myself an annuity and how much is the current commission range for immediate annuities.

Thanks

The only thing to add is most companies do not pay your commission till after the 'Free Look Period' is over.
That goes for business written on yourself and in some cases direct family, but it really depends on the company.

Other then that there really aren't any restrictions that I can think of.

 

[TXINSURANCE]

I was researching single payment indexed with deferred payout.

Basically I drop the lump sum but defer the payouts for a long time.

I am far from an annuity expert where would you start for this scenerio?

 

[Crabcake Johnny]

I would choose a "too big to fail" carrier - The Shenandoah debacle scares the crap out of me.

 

[Newby]

My opinion is that a good indexed annuity is a great place for people to park money as they get closer to retirement and want some of there money to have no market risk.
I'm 49 so a 10 year annuity is a no brainer for my age.
The only real negative you hear from "advisors" about indexed annuities is the "huge" commissions.
If you are also the one getting the commission how could that not make the annuity the obvious choice for all life agents.

 

[0b1kanobee]

I believe you can write youself for just about everything (any product like health, life, annuities) as long as you are licensed to do so.
Commisions shouldn't have anything to do with what product you choose. Same with putting someone else in one. I have rates from 4 to 9 % but that doesn't dictate the product.

 

[briko3]

Ob1, I definitely agree that comission shouldn't have anything to do with where you put others, but comission on annuities you write for yourself definitely have something to do with it. I look at it the same way as any bonus product and to me a 4% bonus is a LOT different than a 9% bonus for similar products.

 

[TXINSURANCE]

The only issue I ever had selling myself a product was the company wouldn't advance. Not that I cared.