Flexible Premium Deferred Index Annuity

[Justin Bilyj]

National Western and Equitable, who else has a good one? If you know the minimums that would be great as well!
I see National has a bonus to the first year's premium and subsequent year's premium. Anyone have an opinion on this product?
Any better products out there?
Also if you had to choose between Equitable's and National Western's flexible premium index annuity, which one would you choose and why?

I appreciate any help, thankyou.

 

[Tahoe Ray]

National Western and Equitable, who else has a good one? If you know the minimums that would be great as well!
I see National has a bonus to the first year's premium and subsequent year's premium. Anyone have an opinion on this product?
Any better products out there?
Also if you had to choose between Equitable's and National Western's flexible premium index annuity, which one would you choose and why?

I appreciate any help, thankyou.

Tell us what you're trying to accomplish...

Good how? Minimums for what (ACH, Qual, NQ, additions)? Bonus for how many years...better how?

You get the idea. Is this relative to your earlier post regarding your friend?

 

[Justin Bilyj]

Two cases, two young guys, one wants to establish a roth, one already has one. The one that wants to create one wants to fund it with a mmf or cd etc. something at a bank. Whereas the other has his funded with a mutual fund, but doesn't like the risk.

I am dealing more and more with younger clients who want to start an ira, I think having a flexible premium index annuity would be a great tool.

Also, North American isn't an option.

 

[Tahoe Ray]

Two cases, two young guys, one wants to establish a roth, one already has one. The one that wants to create one wants to fund it with a mmf or cd etc. something at a bank. Whereas the other has his funded with a mutual fund, but doesn't like the risk.

I am dealing more and more with younger clients who want to start an ira, I think having a flexible premium index annuity would be a great tool.

Also, North American isn't an option.

How old is young? What state? You may have two separate product solutions here...

 

[apk]

North American would be your best option, but since you are unable to utilize them, National Western would be your next best fit. I work for an FMO and just from experience, National Western has the WORST customer service ever!

 

[ScottLFB]

Hey Empty, why isn't North American and option? No state approval or are you trying to 1035 out of North American??

For the younger people that want Traditional or Roth IRAs, try showing them a two step process. Riders and bells/whistles are kind of worthless for the Under 40 market because even the riders that are approved for that age range are lower compounding rates that wont rollup beyond 20yrs.

I've had quite a bit of luck having my Agents use the two step process with North American and Allianz. Look for a flex premium product that will pay you multiple years of bonus. Even though North American has a 14yr surrender on the Charter 14 and the bonus stops after 7yrs, they can open the second annuity with another carrier and get multiple years of another bonus over there. By the time they hit later in life, closer to retirement, 1035 the two policies into one and plan for retirement income at that point. In the mean time the client was ensured to get bonuses on all their contributions.

Good Luck,
Scott