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Re: Primary Carrier
I don't have a primary because I've found no one company does everything I want and who I want to deal with today will probably be different next month. Here is why I think you can;t just have one go to company for the following instances
For a small Flexible Premium Index Annuity
For a small one time deposit
For a small deposit and the ability to add money by EFT and how the carrier treats the additional deposits prior to contract anniversary
For a large one time deposit
Is the client more interested in the Rider values or Growth of the accumulation value or both.
I don't have a primary because I've found no one company does everything I want and who I want to deal with today will probably be different next month. Here is why I think you can;t just have one go to company for the following instances
For a small Flexible Premium Index Annuity
For a small one time deposit
For a small deposit and the ability to add money by EFT and how the carrier treats the additional deposits prior to contract anniversary
For a large one time deposit
Is the client more interested in the Rider values or Growth of the accumulation value or both.
Re: Primary Carrier
I'd be interested knowing who you use for these scenarios if you are willing to share. Thanks!
I'd be interested knowing who you use for these scenarios if you are willing to share. Thanks!
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Re: Primary Carrier
I have one main carrier for accumulation purposes only and another if I'm going to use it for income now or in the future.
I have one main carrier for accumulation purposes only and another if I'm going to use it for income now or in the future.
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Mine are currently:
-LSW for FLEX premiums
- Great American for most others followed by iNG
Those are my three. I'm not captive and I don't care about winning trips because I don't fly. I can use over a 100 companies if I wanted to but I use those three because they are rated well, I'm familiar with them and they are good companies with good products. Commissions might not be great compared to some but I have found very high commissions to be indicative of a sub-par product in my experience. Can't speak for anyone else, this is my experience and the word around the water fountain.
Buddy of mine studies a lot of products. He likes my three too and he uses them. He will scrutinize a product like nobody I know. I have heard him rip that Allianz Masterdex 10 to shreds before. I have also been advised to stay away from Midland.
-LSW for FLEX premiums
- Great American for most others followed by iNG
Those are my three. I'm not captive and I don't care about winning trips because I don't fly. I can use over a 100 companies if I wanted to but I use those three because they are rated well, I'm familiar with them and they are good companies with good products. Commissions might not be great compared to some but I have found very high commissions to be indicative of a sub-par product in my experience. Can't speak for anyone else, this is my experience and the word around the water fountain.
Buddy of mine studies a lot of products. He likes my three too and he uses them. He will scrutinize a product like nobody I know. I have heard him rip that Allianz Masterdex 10 to shreds before. I have also been advised to stay away from Midland.
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Who is LSW?
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I tend to use Jackson or Pru for pure accumulation purposes.
I like Lincoln for income in future because of their smart income rider.
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- 2,455
LSW = Life of the South West (National Life Group) been around 4 years before Abraham Lincoln was president. Their life insurance products are really good to if you are into life (not for term).
Jackson National also has extremely good products according to my associate and I take his word like the Gospel. I'm not familiar enough with them. Symetra at one time was rocking too. My same associate was the number one rep in the country for their product called 'The Custom 7'. He's not writing it now though. Apparently they must not be hungry (full belly) I dunno???
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I have just recently expanded my thinking to include FIAs. I have settled on Jackson because of their service and all-around quality. The Elite Choice doesn't do all the tricks some of the others do, but the company is A+ rated and their support and marketing material has shown to be more understandable for the client than much of what I've seen.
To me it's not about which product is hypothetically better. It's about knowing how to use the product in its rightful place. Chasing the best product is like buying new clubs to improve your golf score. The clubs won't help if your swing is bad.
To me it's not about which product is hypothetically better. It's about knowing how to use the product in its rightful place. Chasing the best product is like buying new clubs to improve your golf score. The clubs won't help if your swing is bad.
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You will find out (maybe) but I'll tell you, carriers offering annuities are going to having rates which vary depending on how 'hungry' they are. It is like going to a buffet and sometimes you can eat 5 plates of food and sometimes 1 is sufficient. Carriers operate this way which is why I have a few in my bag. Sometimes they just downright don't want any new business it seems and I'm sure it all has to do with their balance sheets and a laundry list of other dynamics.
Having a few 'top rated' companies in your bag is a good thing and if you don't know this yet you will. It took me a few years for a multi-million dollar producer to paint this picture for me and explain it. I think he did 20 million in annuities last year alone (maybe more) and when he talks people listen. He can make it rain. He's one of what us small fish call one of the 'rainmakers' lol.
I would say though that you are doing well to concentrate on one company first and Jackson is a GREAT one. Down the road you can learn a few more (paperwork and stuff is my problem from company to company).
BTW Larry......I liked your definition of a statistic you posted. I wrote it down. "Everyone in general, no one in particular".
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