Tell Me About Your Best Current FIA...

[2112Greg]

Looking for the highest bonus along with highest GWB.

What's the best deal going right now?

 

[njh_lfg]

it depends on the current age of the client, when/how they want their income stream, and state.......

 

[2112Greg]

Good point, I posted this in a hurry. Client is 43, male, in Texas. He inherited 50k and it's grown to about 68k. It's a 7 1/2% contract right now and it's sitting there as a retirement asset. He doesn't need distributions until around retirement age 60-ish, I'd say.

Am I missing anything?

 

[nathan.lee]

Good point, I posted this in a hurry. Client is 43, male, in Texas. He inherited 50k and it's grown to about 68k. It's a 7 1/2% contract right now and it's sitting there as a retirement asset. He doesn't need distributions until around retirement age 60-ish, I'd say.

Am I missing anything?

Is money in an annuity right now? Is the "7 1/2% contract" an income rider? If so, is the $68K the cash value after any applicable surrender charges or the current income/benefit base?

Also, do you need the highest bonus AND best GWB? Or would you just like the best guaranteed payment for the client?

 

[Franz Kafka]

Looking for the highest bonus along with highest GWB.

You can also look for the highest fee and the lowest cap. It will be the same.

 

[2112Greg]

Thanks all.

The 7.5% is the income rider.

The protected base is 68,000 and surrender value is 62,000.

Any suggestions?

 

[nathan.lee]

What would be the income payment at age 60 from his current annuity?

If we were just talking about $62K of qualified money then the Aviva Income Preferred Bonus product with Income Edge Plus rider would give him roughly $8906 per year starting at age 60. This is assuming we are sticking with an A rated carrier.

Product has a 6% bonus and 6.7% compound roll-up.

If the payment amount from his current income rider would provide more income then I can't see any reason to move it.