Index Annuity Recommendation

[HarryRenard]

Personally, I stay away from those that force an annuitization in ten years. Allianz has some nice ten year walk away annuities.

This way you can perhaps get more income purchasing an immediate annuity down the road, but not be locked in if their financial situation has changed.

Which companies force annuitization in 10 years or at any point for that matter?

Funny you mention ALLianz as one with walk away products, they were the KINGS of annuitization even at death. It only took law suit after law suit to get them where they are today.

 

[ScottLFB]

I'm confused as to why so many of you are saying turn it into a SPIA? I agree that if the statements about going for the non-bonus product to get the higher cap structure (as long as you go with a carrier that doesn't have a history of dropping the caps to their min guarantee in year 2). But, there are multiple products with the income factors that are going to give you a high payout that you cannot outlive. By activating the Income Rider, you leave your clients with options. The accumulation acct will still be flexible, meaning the funds will still be working for the client with the investment structures while a SPIA is going to give you an annuitization rate, which is usually very low. Unless you go period certain and die within that period, the beneficiaries get nothing with your SPIAs, but with the Income Riders most are full value upon death.

I'm not criticizing one vs the other, just confused on why so many ppl have one or two products they work with and try to "fit" their clients to that product instead of learning new products/strategies out there today.