Need an Immediate Income Annuity for Eighty-seven Year-old

[SIXintheCity]

Client has $100K he wants for an immediate annuity to provide an income. 87 year old. Referral, and have not delved into greater detail with him as I wanted to see if ANYONE knows a quality carrier who can help with his needs.

Oldest age I have seen is 85, but I'd love to be wrong about that.

Thank you in advance for your help!

 

[arnguy]

There are quite a few. Just "google" immediate annuities and you will find plenty of information including a calculator that will indicate the amount of return that can be expected. They do go past 85 with some carriers, and it also depends on your state, which I don't think is Alabama despite the state flag on your post.

 

[insuranceexec]

As Arnguy has pointed out; there are several that will go to age 90, and even higher.

It depends on your state, and the term period that your client is wanting. I hope this helps.

 

[annuityseller]

at that age wouldn't a split annuity work better??

 

[SIXintheCity]

Curious, how would a split annuity solve the problem? I am all ears.

I am actually in Pennsylvania, as is the client. Yes, thank you all for your help!

 

[annuityseller]

well It's just my thought why loss control of the money ?? find out what the income need is then position the 2 buckets to provide the money and return of premium or close to?? Also you'd have 2 sells that pay alot better and is better for the client ,Also what about an fia with an income rider ??might be to old but just a thought??

 

[jmhopkins40]

Client has $100K he wants for an immediate annuity to provide an income. 87 year old. Referral, and have not delved into greater detail with him as I wanted to see if ANYONE knows a quality carrier who can help with his needs.

Oldest age I have seen is 85, but I'd love to be wrong about that.

Thank you in advance for your help!

Yes, there are several.. Your next step is to locate a LARGE broker than can provide more companys and products to cover this and other out of the way examples...

 

[InsureGuy5]

I would at least put a period certain on the annuity at that age, but yes there are carries who will write it.

 

[malpe001]

I am with Bankers life and casualty co. and we service up to 90 years of age. We have agents in your area call for info.
Eric Malpezzi
818-823-5794

 

[insuranceexec]

I am with Bankers life and casualty co. and we service up to 90 years of age. We have agents in your area call for info.
Eric Malpezzi
818-823-5794

Read the rules before you post..................

Oh wait! You are an "employee" of Bankers "death" and Casualty.........I understand............LOL