Name This Annuity Company/product. No Cap? A+ Rating

[Freddie]

5% up front bonus
No Cap 100% participation rate
A+ Carrier
10% Commission 0-75 and 8% 76-80

North American? Not too many have an A+ rating.

???? Who is this? The only thing I am aware of with 100% participation and no cap is Annexus and there is a fee to the client for no cap.

 

[padthaiforlunch]

Please let me know when you find out. Cap or rating - bet one of them is off.

 

[Freddie]

Got this as an email from an FMO. I will not mention the name. Not many insurance companies have a real A+ rating.

 

[dgoldenz]

Pretty sure it's American National. There's no cap because they have to lock in the rates and it's a one-shot deal. Client gets to choose when to lock in the rates. I'd have to go back and look at it again, but I think it's called the Value Lock. They are an A rated company though, not A+. Something is missing here.

 

[briko3]

annuity shop?

 

[HarryRenard]

Yes it does sound like the Value Lock 10, and yes Anico is not A+, they are A

Someone recently asked this question and in the annuity forum and it was the same thing, the FMO was basicly combining a few products in the advertisement to make it look more attractive.

*The thread was "Who has up to 10% Commission" where this exact situation was discussed.

 

[0b1kanobee]

I wouldn't want to use this product because you would have to wait it out for a while. Imagine in year two getting a say 16% return. Who do you think is going to be calling you to ask if they should lock in the rate? Yeah the client.

Then year 6 you get another big return, say 20%. Now your a jacka$$ because they locked it in. Once it is locked in it only grows at the fixed rate, which could be the minimum.

I don't like it at all. Too many variables for a client to get mad at me and tell their friends.

Any other opinions??????? Pros or cons???

 

[arnguy]

How much is the name of that annuity company worth to you?

 

[0b1kanobee]

How much is the name of that annuity company worth to you?

it's the Anico value lock 10.

Here's is also the catch. You put in 100k. Year two say you get a 22% return. You lock it in. Year 5 the client wants to surrender. All those gains are prorated. The surrender charges are huge on this I believe. Remember, if they don't get you one way they will get you another. The Devil is in the details. This product to me is like trying to hit a moving target. I almost called about this product the other day till I talked to my partner who already said don't bother.

Has anyone done one of these?