Who Has the Highest SPIA Rates Now?

[bark3005]

Hello fellow agents,

Got a client with $210,000, he is a 68 year old male. He wants a life only SPIA. The best I got is about $1343/mo. with Allianz. Are there any other companies that could possibly have a higher payout?

Thanks

 

[golfnut]

american equity, north american,pacific life, AE is a little over 100 bucks higher, depends on state if there is a tax,quote was based on NC,oh btw AE pays 4% on their SPIA's

 

[bark3005]

Thanks Golf Nut.

 

[Charpress]

American Equity is almost always going to have the best rates.

Beware of their suitability sheet, though. I don't know what I was thinking, but I checked off that the money came from a re-finance which is an automatic decline with them. They wouldn't even let me "revise" my choice. North American was my fallback in this case.

 

[billberry12]

I thought Japan bombed Pearl Harbor.

 

[arnguy]

I thought Japan bombed Pearl Harbor.

Huh, WTF!

 

[TRSecurity]

You could also consider giving him an indexed annuity with an income rider he can turn on immediately. It will pay a few hundred less per month, but remaining principal gets passed on should he die early.

 

[bark3005]

Yes. AE is near the top. Phoenix beats them by a couple of bucks, but they are B+.

 

[Charpress]

I thought Japan bombed Pearl Harbor.

Merely a rumor. The Germans painted red suns over the swastikas.