New to Annuities

[Jiimbo007]

I have done life and health for 8 years now and have added annuities for the simple reason of having current clients ask about it. My question is that companies such as Mutual of Omaha have a number of annuities. What is a safe annuity that provides a decent return?

I have heard different stories from both sides saying annuities are good and some say they are awful. But I was just wondering if anyone could offer some help as a safe yet productive product I could offer people. I am already with Mutual of Omaha but would look at contracting with another company if they had a worthwhile product.

Any help would be helpful in trying to provide another service to people when they ask.

Thanks

 

[Sales71]

Annuity are very safe. You have many types but for older folks they like fixed % annuity. You can look at index annuity which follows the stock market performance but if the market goes down you money will stay the same.

If they make 3-6 percent interest your client would be happy.

 

[Norwayguy]

Fixed and Indexed Annuities are very safe. Variable Annuities are invested in seperate accounts instead of the general account of the carrier and as such carry the same risk as any direct investment in the stock market, though I assume since you are asking these questions you are NOT a registered rep and variable annuities are not something you are selling.

Good return, that will depend on what your client is trying to accomplish and thier time horizon. For simplicity sake lets start with :

MYG Annuities: A form of fixed annuity where the interest rate is typically guaranteed for the entire surrender period similiar in thought process to a CD.

CYA Annuities: Current yield this type of product may have a first year interest bonus but there after pays whatever the companies decides as long as it is equal to or larger than the guaranteed minimum interest rate.

Fixed Index Annuities: A form of fixed annuity where the interest earned in the account is linked to an index calculation. There are many different index annuities as well as many indexes used and different limitiing factors such as participation rate, index spreads or caps or combinations of the three.

 

[supersupps]

Perhaps a spelling class. there is a rat in sep a rat e.

 

[nathan.lee]

Jimbo,

If you are concerned about your knowledge of annuities, Annuities for Dummies is a nice resource to have around. I would suggest picking a few different carriers in order to offer a diverse array of products to fit your clients' needs.

Finding an FMO/IMO that will take the time to discuss the products with you, advise you on when and how to use them, and help you position them to clients will be useful to you as well.

 

[bobwise23]

I have done life and health for 8 years now and have added annuities for the simple reason of having current clients ask about it. My question is that companies such as Mutual of Omaha have a number of annuities. What is a safe annuity that provides a decent return?

I have heard different stories from both sides saying annuities are good and some say they are awful. But I was just wondering if anyone could offer some help as a safe yet productive product I could offer people. I am already with Mutual of Omaha but would look at contracting with another company if they had a worthwhile product.

Any help would be helpful in trying to provide another service to people when they ask.

Thanks

FIA! It is the best time to sell this product with all of the uncertainty in the marketplace. Caps and floors are as high as ever as well. I use Allianz's FIA and they have treated me well.

Bob

www.thirdlakefinancialcorporation.com

 

[Norwayguy]

FIA! It is the best time to sell this product with all of the uncertainty in the marketplace. Caps and floors are as high as ever as well. I use Allianz's FIA and they have treated me well.

Bob

www.thirdlakefinancialcorporation.com

Why do I think you must be speaking of IUL over a FIA as the floor has been pretty much the same in FIAs of 0 and caps have definatly been higher.

 

[financemama]

I have been researching and writing about annuities for a few years and this product can be an excellent way to guarantee retirement income.

I'm glad you are looking to add annuities for your clients' best interest. If you are interested, there is a lot of great information to be found from Annuity FYI. They have product comparisons and really do their research when making unbiased recommendations.

 

[annuityseller]

ANNUITYGURU "Since you have a data base of clients, you now need guidance on properly profiling clients and their needs. It can be as simple as offering cd type rates,creating a plan for income for life, or creating the best legacy opportunity. Reach me at Ideal Producers Group and I will guide you on the process."

recuiting on your first post to our beloved forum, shame,shame!!!!!!!!!

 

[nathan.lee]

Since you have a data base of clients, you now need guidance on properly profiling clients and their needs. It can be as simple as offering cd type rates,creating a plan for income for life, or creating the best legacy opportunity. Reach me at Ideal Producers Group and I will guide you on the process.

Wow! Aggressive! No other contribution to this forum other than recruiting for your own benefit.