What are your favorite annuity companies?

[ValeRosso]

Using Athene now, and becoming very annoyed with their suitability people...its always something with them. I usually have to jump through hoops to get existing annuities transferred to Athene. Any other good options yall use?

 

[Allen Trent]

Using Athene now, and becoming very annoyed with their suitability people...its always something with them. I usually have to jump through hoops to get existing annuities transferred to Athene. Any other good options yall use?

Sounds like Athene does it right.it shouldn't be easy to move existing annuities to a new annuity. Too many agents move people from existing products that are past surrender charge period with good forever minimum interest rates & old higher guaranteed payout tables (shorter life expectancy & higher payout annuity rates) into new annuity contract with new surrender schedule, worse mortality tables & possibly worse forever renewal minimum interest rates

 

[Tahoe Ray]

Sounds like Athene does it right.it shouldn't be easy to move existing annuities to a new annuity. Too many agents move people from existing products that are past surrender charge period with good forever minimum interest rates & old higher guaranteed payout tables (shorter life expectancy & higher payout annuity rates) into new annuity contract with new surrender schedule, worse mortality tables & possibly worse forever renewal minimum interest rates

Fwiw, I agree w/ OP.

 

[ValeRosso]

Sounds like Athene does it right.it shouldn't be easy to move existing annuities to a new annuity. Too many agents move people from existing products that are past surrender charge period with good forever minimum interest rates & old higher guaranteed payout tables (shorter life expectancy & higher payout annuity rates) into new annuity contract with new surrender schedule, worse mortality tables & possibly worse forever renewal minimum interest rates

I totally understand this and there are bad actors who don't know what they're doing so they are protecting their business. But when the transfer is better for the owner on all fronts, putting the client in a better position than they are right now...and its still having to jump through hoops and pulling teeth with Athene? Just personally tired of it.

 

[Allen Trent]

Have you worked with Aspida, Oceanview or F& G for MYGA?

 

[LostDollar]

I totally understand this and there are bad actors who don't know what they're doing so they are protecting their business. But when the transfer is better for the owner on all fronts, putting the client in a better position than they are right now...and its still having to jump through hoops and pulling teeth with Athene? Just personally tired of it.

Caveat, not an agent.

Athene are the ones liable if there is a problem with a transfer or the assets.

How are they going to know what you think you know about the suitability of the transfer if they do not conduct their own reviews?

 

[LostDollar]

Sounds like Athene does it right.it shouldn't be easy to move existing annuities to a new annuity. Too many agents move people from existing products that are past surrender charge period with good forever minimum interest rates & old higher guaranteed payout tables (shorter life expectancy & higher payout annuity rates) into new annuity contract with new surrender schedule, worse mortality tables & possibly worse forever renewal minimum interest rates

And their AM Best rating is now A+ which ought to count for something.

 

[Jackalope]

For MYGAs, I'm using American Savings Life in Mesa, Arizona. They're currently in 15 states, but offer 1 through 5 year durations with decent rates and riders.

 

[Sheryl J Moore]

I totally understand this and there are bad actors who don't know what they're doing so they are protecting their business. But when the transfer is better for the owner on all fronts, putting the client in a better position than they are right now...and its still having to jump through hoops and pulling teeth with Athene? Just personally tired of it.

I hate to burst your bubble, but Athene is known to accept business that others won't, from a suitability standpoint. sjm

 

[LostDollar]

I hate to burst your bubble, but Athene is known to accept business that others won't, from a suitability standpoint. sjm

I don't understand what this means in relation to op's post that was quoted.