Flexible Premium FIA for Small Contributions?

[padthaiforlunch]

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.

Been a while since I've looked, but I believe the monthly are deposited into the fixed rate account until anniversary. Then client can reallocate.

 

[thinktank]

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

You are not alone Norway Guy! I cross my fingers every time I have to send up a case to LSW.

 

[VolAgent]

Been a while since I've looked, but I believe the monthly are deposited into the fixed rate account until anniversary. Then client can reallocate.

That is typical, but Peter said each one gets indexed immediately and separately. That is why I would think it would be a nightmare down the road.

 

[Norwayguy]

That is typical, but Peter said each one gets indexed immediately and separately. That is why I would think it would be a nightmare down the road.

That is exactly what I said and it is what the agent guide on those products states

Purchase Payments
[FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]This contract accepts flexible, periodic and single purchase payments for 403(b) TSA (traditional and Roth), IRA (traditional, Roth, SEP, SIMPLE and Inherited), Governmental and non-Governmental 457(b) and non-qualified. Contracts can be issued and purchase payments can be paid into the purchase payment account on any business day. Contributions will be moved to interest strategies on the 6[/FONT][/FONT][FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]th [/FONT][/FONT][FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]and 20[/FONT][/FONT][FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]th [/FONT][/FONT][FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]of each month (or the business day preceding if the New York Stock Exchange is closed). Note that the company could designate additional days in the future. [/FONT][/FONT]

 

[padthaiforlunch]

Okay, so that only applies to 403(B) and 457. The individual wanting monthly deposits is fixed rate until end of year. Or did I misread the boilerplate?

Thanks, Peter.

 

[Norwayguy]

Okay, so that only applies to 403(B) and 457. The individual wanting monthly deposits is fixed rate until end of year. Or did I misread the boilerplate?

Thanks, Peter.

No its the Flexmax and Flexmax Plus product work that way. Its a little strange but some clients like the idea of the money indexing right away...Having said that I haven't sold GAFRI in a while.