Phoenix 45% Bonus Annuity.. Contract?

[TxsRang3r]

When you say inflexibility of the SPIA can you provide more detail with exactly what she doesn't like?

 

[bluemarlin08]

I have a hard time understanding why someone would annuitize
now with historically low interest rates.

 

[Charpress]

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

The advantage of an income rider is to be able to predict exactly where a client will be in a given number of years on the guaranteed minimum basis. I can't think of any scenario where someone would want to go that route (giving up future predictability) knowing they are going to turn on income immediately.

Maybe there is a bit of comfort knowing with many products you can turn income on and off. However, with most of what I'm familiar with, you give up guaranteed minimums once you turn on income, even if you turn it off later.

 

[scagnt83]

So, with an income rider like they have and caps like they have you're essentially selling a two-tier annuity (i.e. Masterdex 10)

Excellent point

 

[padthaiforlunch]

When Forethought transitioned from the 125 to the 115, they stopped guaranteeing the payout percentages. The 115 is subject to change if the client hadn't turned on income after X years. Better check on Phoenix before you sell it.

 

[lbritt]

When Forethought transitioned from the 125 to the 115, they stopped guaranteeing the payout percentages. The 115 is subject to change if the client hadn't turned on income after X years. Better check on Phoenix before you sell it.

Our group is a Distributor with Phoenix. According to the current disclosures, the payout percentages are not subject to change. This is confirmed with home office personnel.