Annuities for AEP

[bpenn9]

My focus has always been the Medicare/FE markets. I know I am missing the boat by not offering annuities, especially to my med supp clients. Are there a couple go to carriers and products you might recommend? Client base for the most part is 65-75.

 

[scagnt83]

After the MA policy is sold I would transition to Annuities. Perfect opportunity.

Keep current FA rates and just show them to your MA clients. Right now you can get 2% for 3 years and 2.25% for 4 years. (Guggenheim) (Considering the economic climate I would recommend the 3 year product)

Lots of the people you sell will have CD or savings money making .5%-1%. You can double their RR and it is a very simple sale.

You can show IAs. Great American has a good combination of Cap rates & Rider rates (5% caps, 8% & 10% income riders).

Often its easy to gain interest with the fixed rates and then give them the choice of the IA when you sit down and explain things.

 

[Stephen]

After the MA policy is sold I would transition to Annuities. Perfect opportunity.

Keep current FA rates and just show them to your MA clients. Right now you can get 2% for 3 years and 2.25% for 4 years. (Guggenheim) (Considering the economic climate I would recommend the 3 year product)

Lots of the people you sell will have CD or savings money making .5%-1%. You can double their RR and it is a very simple sale.

You can show IAs. Great American has a good combination of Cap rates & Rider rates (5% caps, 8% & 10% income riders).

Often its easy to gain interest with the fixed rates and then give them the choice of the IA when you sit down and explain things.

I second Guggenheim and G.A.

There are so many changes in interest rates, roll up rates, LTC riders etc.. that keeping up with them all almost seems like a second job. In my opinion that is what FMO's get paid to do.

When I work a case, even if I am pretty sure what my recommendation will be, I call my marketer and have him send me his top 2 or 3 products that will fit the need that we are trying to fulfill.

 

[scagnt83]

There are so many changes in interest rates, roll up rates, LTC riders etc.. that keeping up with them all almost seems like a second job. In my opinion that is what FMO's get paid to do.

When I work a case, even if I am pretty sure what my recommendation will be, I call my marketer and have him send me his top 2 or 3 products that will fit the need that we are trying to fulfill.

Ditto. Know the top FA rate. Then know general concepts for the rest and fill in the product for the situation.

 

[bpenn9]

I second Guggenheim and G.A.

There are so many changes in interest rates, roll up rates, LTC riders etc.. that keeping up with them all almost seems like a second job. In my opinion that is what FMO's get paid to do.

When I work a case, even if I am pretty sure what my recommendation will be, I call my marketer and have him send me his top 2 or 3 products that will fit the need that we are trying to fulfill.

Thank you. That was my line of thinking, I need a couple of good products, understand the concepts and have a good marketer to contract. Appreciate the direction.