Favorite Annuity Products

[SmartMoney]

I have to say your form idea is a very good one. You are saving a lot of money. Excellent. True, the demand for SPIAs is less, but honestly it is growing because agents are slowly learning other ways in which to implement them. As an example, SPIAs can be used to fund LTC.

Back to growth - as a recent example, an alternative using a split with Company A (FIA) and a Single Premium UL with Company B, we can increase the death benefit a bit more by reducing cash value growth on the life product. We chose to go with Company B because as a dividend company, it generates respectable cash with a guaranteed 4.5% return.

Now, the question is: Why would we suggest a split like this using UL? Answer: Wealth Transfer: The death benefit with annuities are taxed as ordinary income. The death benefit for UL is tax free.

Just examples of meeting a client's needs. Hope this gives you an idea or two.

I hear you. Using the SPIA to fund the life is a brillant concept. Im still searching for the life product part of the equation which will give the tax free benefit. What Im looking for is a good product with living benefits of some kind in case the client needs to tap into their cash. What products do you consider for clients doing this form of wealth transfer?

 

[Brokers Alliance]

I hear you. Using the SPIA to fund the life is a brillant concept. Im still searching for the life product part of the equation which will give the tax free benefit. What Im looking for is a good product with living benefits of some kind in case the client needs to tap into their cash. What products do you consider for clients doing this form of wealth transfer?

You are welcome to contact me via email for ideas and product. I really don't want to post my strategies here, or products. Not trying to recruit you. Just protecting my work and relationships that have been built.

Whether you work with me or not, your information will remain 100% private and respected. All I would confidentially need is your name, State, email and phone.

** We have a webinar in the near future on this very subject that would interest you.

 

[cloisbarton]

You should look at Fort Dearborn

They have a great 5 year fixed annuity with a bail out provision

and

Their index annuity caps on an annual point to point range from 10% to 11.5%. Those might be the highest out there right now.

A+ company as well

 

[Brokers Alliance]

You should look at Fort Dearborn

They have a great 5 year fixed annuity with a bail out provision

That would be Fort Dearborn's Classic Fortifier. Great annuity. Hopefully Fort Dearborn will be back to accepting apps shortly. They had to stop taking in apps last month because they were overwhelmed with so much business.

 

[cloisbarton]

I hear you. Using the SPIA to fund the life is a brillant concept. Im still searching for the life product part of the equation which will give the tax free benefit. What Im looking for is a good product with living benefits of some kind in case the client needs to tap into their cash. What products do you consider for clients doing this form of wealth transfer?

How about this one for wealth transfer.....
Assets are passed as a life insurance death benefit
Clients initial premium will almost double for heirs from day one
8% commission
• Fixed Indexed Single Premium Whole Life
• Middle and Upper income market; Asset Transfer and Creation; Higher Interest Credit Potential
FEATURES:
- Immediate 10% Interest Bonus
- Chronic Illness Living Benefit: Pays a portion of the death benefit for 33 months,
Trigger: 2 of 6 ADL's, Physician Certified No Confinement Required, $250,000 Maximum Benefit
- Guaranteed Return of Premium from Day 1
- Issue Age: 18 to 85 (Age Last Birthday)
- Interest Crediting Strategy – 3 Options:
1. Annual Declared Rate – Current 4.75%, Minimum Guaranteed Interest Rate is 2%
2. S&P 500® 1 year Pt.-to-Pt. with a Cap – Current Cap is 10%, Minimum Cap is 4%
3. Global Index Basket with a Participation Rate – Current Participation Rate is 60%, 3 Year Pt.-to-Pt. with a "Look-Back", Minimum Participation Rate is 20%
3 Indexes Used:
Russell 2000® Index • Dow Jones EURO STOXX 50® Index • Hang Seng Index
(60/40/0) Credits 60% to Best Performing Index, 40% to 2nd Best Performing Index and 0% for worst performing index
- There is a guaranteed interest rate of 2%.
- Loans: allowed after the first year
UNDERWRITING:
- Simplified Issue Up to Table 4 issued Standard
- 2 rate classes: Non-Tobacco, Tobacco
- Point-of-Sale (POS) application process
- Point of Sale Process - 20 minute Accept or Referred to Sagicor Underwriter for in-house review
- Net Amount at Risk – $250k
- $5,000 minimum single premium, premiums over $500,000 require Home Office approval to verify suitability