Forethoughts Income 125 Annuity

[padthaiforlunch]

Re: Forethoughts Income 125 Annuity 10% Comm

Yup yup.

5% is a very suck rate for an 80 year old. Which Aviva and Allainz products would you use for income and death benefit?

Mmm....

So they give you a 25% bonus, but the income for an 80 year-old is 5%? That stinks. With Allianz and Aviva the income would be more like 7% for someone that age. Do the math at a 10% bonus and 7% income compared to a 25% bonus and 5% income to see where someone is better off.

In any event, someone that age might be better off with an immediate annuity if what they really are after is income. That might be more like 15%.

Moving parts. 25% big deal "bonus" when the income you can get is piss poor --if that 5% is correct. I haven't looked at the details yet, but my FMO has been pushing this since early December even though it was not yet available.

 

[Charpress]

Re: Forethoughts Income 125 Annuity 10% Comm

On the American Investors side of Aviva, I like the Income Select Bonus with the Income Edge Plus rider.

The last couple I sold were largely based on the ability of the owner to restrict the beneficiary. In an IRA, for example, you can force a lifetime stretch. In both of these cases the clients had children with problems and did not want them to have all their money at once. Aviva is one of the few companies that allows this. Guarantee Income Life is another, but it is hard to sell someone on a B+ company these days.

With Allianz, the MasterDex 5 or the X with income riders are good. The Allianz MasterDex X is especially good at passing on the income accumulation to the beneficiary. Too many income accumulation products are not friendly as far as death benefits go.

 

[Brokers Alliance]

Re: Forethoughts Income 125 Annuity 10% Comm

All excellent points. Each company (Allianz, AVIVA, Forethought) have identified niches in the Lifetime Income Benefit Annuity marketplace. I have done the homework and we actually sit on the Advisory Board for some of these companies. The most important thing producers can do is run the numbers and work with those that have identified the "sweet spots" for each product. At the end of the day the question remains to be whether or not I made the most suitable decision for my client. That means that I am looking at more than just how much the Income payment is. It means I have identified the Death Benefit needs, the Income needs, the retirement "timeline," liquidity needs and more.

For us the commission is the easy part. We have levels available for Producers, Top Level Producers, Agencies, and IMOs. What it comes down to is support and education. There are a LOT of products with similar features. It's important to know which one works specifically for the client's needs and to have the ability to "shop" these products each time to be able to choose the one that will fit most appropriately.

 

[insuranceexec]

Re: Forethoughts Income 125 Annuity 10% Comm

Any clue as to when this product will become available here in Arkansas? In speaking with Forethought they keep telling me that it should be available shortly.

 

[Brokers Alliance]

Re: Forethoughts Income 125 Annuity 10% Comm

Any clue as to when this product will become available here in Arkansas? In speaking with Forethought they keep telling me that it should be available shortly.

William, all I know is that all States are pending. Current States approved are: AL, AZ, HI, ID, KS, KY, ME, NH, NC, OH, OK, SD, TN, WV, WI.

Florida and Texas are currently in the pipeline for approval within 2 to 3 weeks. As far as AR, "shortly" is about right. Sorry, but I will try to keep you posted.

 

[insuranceexec]

Re: Forethoughts Income 125 Annuity 10% Comm

Thanks BAA. I pulled all the info off you guys' website and sent it out to all of my clients. I hope your stuff was meant for the consumer...........LOL

 

[Brokers Alliance]

Re: Forethoughts Income 125 Annuity 10% Comm

Thanks BAA. I pulled all the info off you guys' website and sent it out to all of my clients. I hope your stuff was meant for the consumer...........LOL

**calling 911**

Welcome to retrieve whatever you need.