if you see an interest rate let's say 3.25 on the whole account that's what it is for the life of the account. The amount in the account is fixed no matter what the stock market does the only time this changes is when everything goes South the account balance will never go below 89.7. 401 & 403's every time the stock market hiccups you lose a certain amount of your fund and when the market turns around your account has to re-accumulate all that money from where it has fallen to; some times (most times) that never happens. The same goes for a Variable product Annuity Life etc. They're put in a Separate Account that is based off the Stock Market and you pick the accounts it goes into and you're responsible for that account and it can drop all the way to ( 0 ) in one day. (Scary) If that happened your money in the Annuities I write are guaranteed account's with a floor on the percentage on the interest on the money in the account.
The Annuities I write are based off the S & P 500 growth without the loss.
What I love is when a client says "I can do better with my bank" Really? Did you know M.Client the funds in that account are not insured? And by the way what interest are accumulating (1 1.5 %)? And what is the deposit bonus on the money you're depositing the first year? And can you take up 10% non-penalty with-drawl each year after the first year? Do they annuitize it for you to Income you can not out live? I've sold a lot of Annuities and Life Insurance and nothing sadder than talking to someone that thought their Bank could do better or worse yet someone who put their money in an Variable product thinking that they were securing their retirement; may-be just may-be that's why you need a Series 6, 65, 66, 7 to sell these products because they're like dealing with Nitro-Glycerine but "With the fixed it's like having a mother hen looking after your retirement egg".
Questions want to know how to sell fixed Annuities? Call me 562-275-2589 Steve
