VALIC ProFlex

[iceco1d]

Just wondering if anyone knows of a good IMO for this product?

Anyone here using it?

Or partnering with VALIC Independent Distribution Channel to work the 403(b) market (if so, have you had any success/found VALIC to be a trustworthy partner?).

Sorry for all of the questions.

Thanks in advance!

 

[scagnt83]

Just wondering if anyone knows of a good IMO for this product?

Anyone here using it?

Or partnering with VALIC Independent Distribution Channel to work the 403(b) market (if so, have you had any success/found VALIC to be a trustworthy partner?).

Sorry for all of the questions.

Thanks in advance!

I too would like to find a VALIC IMO.... they are affiliated with ING now.

Im not sure if you can contract direct or not. I tried and never received a response from them...

 

[iceco1d]

I got the names of two from my internal wholesaler (don't have them handy, but will post them from the office). One of them is in CA and the other in CT. The one in CT looks sketchy based on their website (have stale interest rates posted, etc.).

My VALIC wholesaler told me (re: going direct) "we're looking for $5MM a year in net new money to be your own IMO...but we have a couple of guys that committed to that, and have never come close to $5MM, and there isn't a consequence."

I can bring $2MM - $3MM per year (in these interest rate conditions)...wanna partner up? I think we can get $5MM.



Note: The 2 IMOs I checked out had an 80% payout. I can get better than that from a b/d. Do IMOs ever negotiate, or are the payout rates pretty set in stone?

Sorry for the novel...I've only written fixed annuities through VALIC (through my b/d) and Great American (direct), and I don't do enough life insurance to have ever paid attention to my contract with Crump, etc.

Trying to learn. Will help any way I can also.
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Can't post the URLs, or PM them to you. Not enough posts.

 

[iceco1d]

Anyone? Are there any FMOs or IMOs on this board that deal with VALIC?

 

[scagnt83]

Sorry, dont know that I can commit to that, I just need Valic for a prospect.

The proflex is a VA right?... dont you need to go through your BD?

The ProFlex looks interesting

 

[iceco1d]

Sorry, dont know that I can commit to that, I just need Valic for a prospect.

The proflex is a VA right?... dont you need to go through your BD?

The ProFlex looks interesting

ProFlex is the flexible premium fixed annuity. Portfolio Director is their primary VA product, which requires a b/d (the fixed account in the Portfolio Director product shares the same pool as the ProFlex product).

VALIC also has a new VA product out called Equity Director (basically an L-Share version of the Portfolio Director product).

They have two income riders: IncomeLOCK 6 and IncomeLOCK 8

If I can help (although, I probably can't), just let me know.