SPWL Sales down

[Insurance_Data]

Hi everyone.

The past 2 years I have noticed my SPWL sales are trending down. I am curious if others are having the same issue and what you think is causing this. Are you not getting the opportunities to sell it like you used to? Are people wanting to put their money elsewhere with the higher interest rates? Is there something else or are you not seeing this trend for you. I am trying to figure out if what I am experiencing is on par with the broader industry in general.

 

[Tahoe Ray]

Hi everyone.

The past 2 years I have noticed my SPWL sales are trending down. I am curious if others are having the same issue and what you think is causing this. Are you not getting the opportunities to sell it like you used to? Are people wanting to put their money elsewhere with the higher interest rates? Is there something else or are you not seeing this trend for you. I am trying to figure out if what I am experiencing is on par with the broader industry in general.

Fixed annuity rates have become much better over the last few years.

 

[Allen Trent]

SPWL is way down.

This happens in cycles. Some of it is consumers are happier with their bank rates with CDs are paying much higher & they are less receptive to the concept.

Fixed MYGA rates are much better, so that is another issue for both consumer & producer to overcome in their mind. However, for most senior taxpayers in the 0%, on lazy money not needed to live on, NQ annuity will leave a tax bill at death that a life insurance death benefit won't. So, that 4.5% to 5% on a fixed MYGA will only net a real rate at death of about 3% to 4% because of the tax bill heirs will owe on the gains. Will take 20 years for that money to double to heirs, where a SPWL might do that immediately with the death benefit.

But yes, SPWL is down.