Flexible Premium FIA for Small Contributions?

Discussion in 'Annuities Forum' started by WPM, Nov 28, 2011.

  1. WPM
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    WPM Well-Known Member

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    Is there an FIA out there that will take small contributions on an ongoing basis. Looking for something that I can use for contributory IRA's to the tune of $50 or $100 per month. Thanks
     
  2. Todd King
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    Todd King Well-Known Member

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    Presidential has one that will take as low as $25 per month.
     
  3. VolAgent
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    VolAgent Well-Known Member

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    You might have better luck with a fixed annuity. Most FIAs will park the money in the fixed account until renewal anyway. Then you can take advantage of any free withdrawals to move the money into a FIA once it grows enough to meet a higher minimum.

    Just an idea if you can't find the FIA.
     
  4. Norwayguy
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    Norwayguy Well-Known Member

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    Presidential is a straight Fixed Annuity.
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    Annuity Investors (GAFRI) has products that allow you to start with $50 per month eft and each deposit gets indexed seperatly so no waiting on the money in a fixed bucket until anniversary... Lafayette Life will do $82 or $83 a month till the policy hits the $1000 mark and then it can be lowered, however every dollar that is in its first 12 months in the policy gets a lower rate than seasoned money.
     
    Last edited: Nov 28, 2011
  5. VolAgent
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    VolAgent Well-Known Member

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    Now that is pretty cool regarding Annuity Investors. Although, it really must be a pain if you ever need to surrender the contract. Is the contract pretty competitive?

    I have to ask, is this the same GAFRI that everyone is talking about stealing clients?
     
  6. Norwayguy
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    Norwayguy Well-Known Member

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    That was Med Supps....I deal with thier annuity division so the insurance carriers might be the same but I wonder if its an agency thing.

    About each deposit having its own rolling surrender period it also has a waiver of all surrender charges after 7 years and 9 I think depending on which contract....I think the last time I looked at it you have 1 index option S&P 500 guaranteed 100 percent participation but its a cap product and I think the cap is down to 4 and 4.75. I think you need to go to write403bdirect.com to appoint with that side its thier 403(b) side but the products are available for IRA business as well.

    In regards to competiveness I think we have to remember very few carriers taking less than $2K these days.
     
  7. VolAgent
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    VolAgent Well-Known Member

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    I wasn't thinking so much about the rolling surrenders, but having twelve different periods for indexing. You really can't wait until renewal, as only one renews each month, the others are between 1 and 11 months from their next crediting period.
     
  8. Norwayguy
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    Norwayguy Well-Known Member

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    Yeah thats if you go the route of EFTing into the product.
     
  9. nathan.lee
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    nathan.lee Well-Known Member

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    LSW's SecurePlus Gold (10 yr.) and SecurePlus Platinum (15 yr.) allows scheduled payments to be made at $100/monthly with no initial premium as long as it is made via bank draft.
     
  10. Norwayguy
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    Norwayguy Well-Known Member

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    Am I the only one that find LSW a pain to work with?
     

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