New Aviva Fixed Annuity

[Ichiban]

The income benefit rider is not the real selling point on this fixed annuity.

When the clients die, the income rollup amount goes to the bene. and not the actual account value.

Agents are using this product for people who will not touch the money and will pass it on to their heirs. An 8% bonus and 7.2% rollup is not to shabby.

We are seeing a lot of action on this product and I have a feeling Aviva will not offer this product forever.

It's the same product that used to have a 10% Bonus but they could not afford 10% so they reduced it to 8% and lowered the caps. Not saying it is good or bad but it's not something I think you need to rush out and sell because it is too good and they might run out of capacity on but then again if they do run out of capacity they can always cancel your contract again...

 

[pcwest]

The bene.'s can take the payout over 5 years if they want the higher amount. That could help with taxes. They can also choose to take the accumulated value right away.

Also, this product is fixed and not to be confused with the old 10% index product.

Like I said before, if postioned right, this product could be useful in the overall planning process.

We too got burnt last year when they terminated our NMO contract and all of the agents under us. What a mess that was.

Last year was a mess. Most of the carriers had to shore up their financials and I think this year will be more of the same.

 

[indaville]

IMHO don't walk run from Aviva. They screwed their field force last year and they will do it again if you let them. Last year was tough for every carrier, others treated their clients and their agents much better than Aviva.

Matt

 

[Patriotagent]

IMHO don't walk run from Aviva. They screwed their field force last year and they will do it again if you let them. Last year was tough for every carrier, others treated their clients and their agents much better than Aviva.

Matt

AMEN BROTHER..... I like writing Applications as much as the next guy.... But Aviva mess up my 1st quarter big time, I had a nightmare of a time rewriting my clients once good ole aviva pulled the plug on 17 Applications. SEVEN qualified apps THREE 1035's And The rest were stocks and mutual funds clients.

Enuff said

 

[dgoldenz]

AMEN BROTHER..... I like writing Applications as much as the next guy.... But Aviva mess up my 1st quarter big time, I had a nightmare of a time rewriting my clients once good ole aviva pulled the plug on 17 Applications. SEVEN qualified apps THREE 1035's And The rest were stocks and mutual funds clients.

Enuff said

Ouch, don't think I could forgive them if that happened to me.

 

[Charpress]

IMHO don't walk run from Aviva. They screwed their field force last year and they will do it again if you let them. Last year was tough for every carrier, others treated their clients and their agents much better than Aviva.

Matt

Ditto here too. Every time I get tempted by Aviva, I pull out the file on the big case I lost when they pulled the plug on my FMO with a weekend's advance notice. Then pretty much the same thing happened to me again a few months later when they pulled the plug on their next tier of FMOs.

 

[pcwest]

So check this out. We have brokers submitting business with Aviva. Now the contracting dept. is sitting on their a@@ for 3 weeks with money in house.

Now, as an NMO I am getting "those calls" from brokers.

Unless you are already writting with Aviva, RUN!

You would think the hardest part is getting a sale and dealing with transfers, I guess was wrong. The contracting dept. is now Enemy #1.

I just had to vent. Thanks for reading....lol

 

[insuranceexec]

So check this out. We have brokers submitting business with Aviva. Now the contracting dept. is sitting on their a@@ for 3 weeks with money in house.

Now, as an NMO I am getting "those calls" from brokers.

Unless you are already writting with Aviva, RUN!

You would think the hardest part is getting a sale and dealing with transfers, I guess was wrong. The contracting dept. is now Enemy #1.

I just had to vent. Thanks for reading....lol

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