- 2,452
I am a 5 Million per yr producer counting subs. My IMO for all my carriers doesn't offer Phoenix. Just curious what you guys thought of this product (obviously it would require someone to whom it was a fit). I am looking to pick it up.
- 428
might want to check the B rating of the company?? So many A and up rated companies to do business with other then B companies? just my opinion??
- 185
Phoenix products can be used effectively for someone with an immediate income need. You can turn on that rider after 30 days. As an alternative to a SPIA, this strategy can be considered.
- 924
Just like with Forethought's 35% bonus, the company is going to make their money one way or another.
With both, the final income stream is weak. Run the numbers for period of likely deferral and the percentage to which the person will be entitled on their income bucket. It will generally suck compared to many other products.
There can be a sweet spot where taking income soon while young (talking 60-64 here) can be good over an expected lifetime.
With both, the final income stream is weak. Run the numbers for period of likely deferral and the percentage to which the person will be entitled on their income bucket. It will generally suck compared to many other products.
There can be a sweet spot where taking income soon while young (talking 60-64 here) can be good over an expected lifetime.
The payouts really aren't weak if you use them they way they were meant to be used. Sticking someone in the Forethought 125 at 65 and starting income payments at age 75 is just a bad idea.
The Phoenix product's payouts are much better than Forethought. the new product also has a 14% simple interest rollup which will be one of the highest payouts out there.
Phoenix is a strong player in the income rider market and they have payouts to support their presence.
Luke
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Here are a couple of examples where Phoenix fits:
Age 55, 10 Year Deferral
Rank Company Annual Payout
Rank Company Annual Payout
1 Phoenix $12,000
2 NACOLAH $11,874
3 American Equity $11,874
4 Aviva $10,723
5 Annexus $10,524
6 Forethought 115 $10,297
7 F&G $10,068
Age 60, 5 Year Deferral
Rank Company Annual Payout
1 Phoenix $8,500
2 NACOLAH $8,081
3 American Equity $8,081
4 Annexus $8,067
5 Forethought 115 $7,695
6 Aviva $7,574
7 F&G $7,095
Age 60, 10 Year Deferral
Rank Company Annual Payout
Rank Company Annual Payout
1 American Equity $14,249
2 Phoenix $13,200
3 NACOLAH $13,062
4 F&G $12,082
5 Aviva $11,795
6 Annexus $11,577
7 Forethought 115 $10,297
Age 65, 5 Year Deferral
Rank Company Annual Payout
Rank Company Annual Payout
1 American Equity $9,698
2 Phoenix $9,350
3 NACOLAH $8,889
4 Annexus $8,873
5 F&G $8,514
6 Aviva $8,331
7 Forethought 115 $7,695
Age 65, 10 Year Deferral
Rank Company Annual Payout
1 Phoenix $14,400
2 NACOLAH $14,249
3 American Equity $14,249
4 Aviva $12,867
5 Annexus $12,629
6 Forethought 115 $12,357
7 F&G $12,082
Age 70, 5 Year Deferral
Rank Company Annual Payout
Rank Company Annual Payout
1 Phoenix $10,200
2 NACOLAH $9,698
3 American Equity $9,698
4 Annexus $9,680
5 Forethought 115 $9,234
6 Aviva $9,089
7 F&G $8,514
Age 70, 10 Year Deferral
Rank Company Annual Payout
1 American Equity $16,624
2 Phoenix $16,200
3 NACOLAH $15,436
4 F&G $14,095
5 Aviva $13,939
6 Annexus $13,682
7 Forethought 115 $12,357
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- Thread starter
- #7
- 2,452
forethought's bonus is 25, not 35. thanks for the helpful comparisons that really does help.
- 924
Used to be 35. I haven't had any reason to look at Forethought recently. Although, they came out with some interesting stuff June 1 -the Bonus Advantage. Too much like everything else (except 8.5% com.) and it has an accelerated 8% income feature after 10 year deferral.
is it ever a good idea to use the income rider(s) for IMMEDIATE income (instead of 5/10 yr deferral)? my client is 70 yr old female and needs income NOW. money is non-qualified. she doesnt like the inflexibility of SPIA. if so....where does Pheonix compare to others? thanks in advance
