Which Carrier Do You Use for 80+ Yr Old Clients?

[padthaiforlunch]

ummm, no new commissions???

Yes, but I thought that everyone on this board put the clients needs first..........LOL.

Sarcasm it was, I tell ya.

A senior I know had the guy at her bank trying to roll her into a new SPIA from her long out-of-surrender VA.

When she asked him about streaming her current annuity,he glossed over it. I called the carrier directly to get the schedule since her banker only wanted a new commission.

Sure there are more than a few scumbags sitting up in banks. Then again, someone had to sell all those VA's.

 

[insuranceexec]

With the majority of these clients the surrender period is long gone, and in looking at the surrender values I am assuming that most if not all of the ones i have seen so far do not have MVA's(of course this will be looked into further).

insuranceexec our company is not interested in earning a cheap buck off of our clients, we will only advise a change to our clients if there is a clear advantage for them.

Thanks all for your input.

ps wow insuranceexec didn't know that an internal annuitization wouldn't result in a new commission?

Haha just kidding man.

pps I found that LSW has charge backs of 100% for the first 6 months and 50% for the next 6 months then 0% thereafter. Also they issue to age 89.

I apologize as I did not realize that the clients were past their surrender charge period. I should have asked.

There are many good annuities for older people. What is their overall objective?

Inheritance?
Income?
Liquidity?
Still saving for that RV........LOL

 

[paulgarofoli]

National Western Life has a fixed product series issuable to age 90. 10 year chassis. Interest Rate bonuses of 1%, 5%, 7% with yields of 5.05%, 8.05% and 11.05% in the first year.

The company offers an Index product with a 5% premium bonus that is available up to age 85.

 

[fin1forall]

What are the top 3 annuities for 80+ in your opinion?

 

[indaville]

Old Mutual has a nice 4 year option.

 

[Charpress]

Great American and BPA.

Someone earlier (August) suggested Allianz. I like Allianz, but most of the good stuff is cut off at age 80.

 

[insuranceexec]

Great American and BPA.

Someone earlier (August) suggested Allianz. I like Allianz, but most of the good stuff is cut off at age 80.

What do you like about the BPA as compared to say Legacy's Premier Mark product?

 

[R. Paul Aguirre]

What do you like about the BPA as compared to say Legacy's Premier Mark product?

Premiere Mark? Is that the Gold product?