Qualified Money Into An Annuity

[padthaiforlunch]

My thought on excess CE is to weed out the number of agents selling annuities. I'm in favor of raising the bar and trying to limit the number of annuity agents to those who understand the product. It's obvious KJ doesn't understand them, and it's troubling that he's out there doing replacements on a product he doesn't understand.

 

[DHK]

But here's what's interesting: I didn't understand Index Annuities for a while, but I thoroughly understood the Variable Annuities I was selling.

Now, I have a much better understanding of the Index Annuities I offer... and I'm still working on some of these other products.

I just keep asking myself: "What kind of situation or person would want to buy this product?"

 

[padthaiforlunch]

I just keep asking myself: "What kind of situation or person would want to buy this product?"

Great question.

 

[0b1kanobee]

I think we should devote a thread, maybe in the 1000 posts section or here with an emphasis to detail on the various annuities. Where one is best used. To use an immediate or not. How to ladder annuities. When to throw an income rider on. Ect. Ect.

Just a good ole annuity thread with all the fixins.

 

[DHK]

How about a sub-section of THIS forum? Or new threads as stickies?

I'd like to add that one must also know how to evaluate an "in-force" annuity statement &/or contract as well.

It could be worked on in the 1000+ post forum and then moved here and kept "locked".

(Wish I could participate. I'm getting there!)
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Also, knowing the traps on such products and strategies - both for the producer and the client.

 

[Norwayguy]

How about a sub-section of THIS forum? Or new threads as stickies?

I'd like to add that one must also know how to evaluate an "in-force" annuity statement &/or contract as well.

It could be worked on in the 1000+ post forum and then moved here and kept "locked".

(Wish I could participate. I'm getting there!)
- - - - - - - - - - - - - - - - - -
Also, knowing the traps on such products and strategies - both for the producer and the client.

Excellent comment....KJs complaint about the Allianz annuity stemmed from the use of the Monthly pt2pt with cap which would have been 1 of the options available in that index annuity...He never mentioned where he moved the client but just by changing the crediting method the next time the policy renews would have solved most if not all of his complaints....By moving the client the following things most likely happened:

1. Unless the move happened on a policy anniversary the client flushed away any interest for that partial year.
2. Client would most likely end up in a new product with a front end sales charge, New Surrender schedule or new CDSCs.

Finally since he never mentioned what he moved him too we have no clue if it entails the same risk, less risk or more risk than the existing annuity...Since he spouted off about the S&P 500 earning 11% it makes me wonder if the client ended up in an index mutual fund putting principle and gains at risk.

 

[jacobtn]

Kj doesn't understand anything he's selling, including fe. read his other posts.

My thought on excess CE is tao weed out the number of agents selling annuities. I'm in favor of raising the bar and trying to limit the number of annuity agents to those who understand the product. It's obvious KJ doesn't understand them, and it's troubling that he's out there doing replacements on a product he doesn't understand.