The BEST annuity is the one that does what the client needs, and nothing more, stay away from a rider list that’s longer than Santa Claus’s X-mas list…

[quote=blarmston]Call your divisional annuity specialist, describe the situation, and they will point you in the right direction...[/quote]

Thanks, I have spoken with our annuity specialist, I was looking more from a National standpoint rather than just what I have access too.  More of a competitive edge where I can place a wedge between a prospect and their current relationships.  I know what we offer I was curious as to what other firms/indies are selling right now and why.   

The american skandia annuity has a nice guarantee that makes most people feel all warm and fuzzy.  Seven years from now if you have any less money than you started with, they credit you the difference.  

1.25 + .25 +.9 =2.4 all in.

Do you have to annuitize for that guarantee?

[quote=the word]

The american skandia annuity has a nice guarantee that makes most people feel all warm and fuzzy.  Seven years from now if you have any less money than you started with, they credit you the difference.  

1.25 + .25 +.9 =2.4 all in.

[/quote]

That's a lot of dough just for a principal guarantee. What are the restrictions on the sub-account selections?

You can select any of the subs they have available.  They(American Skandia) can shift funds into a fixed account if performance warrants, restricting access to subs for your entire investment.  I have only had this happen a few times.  And it was like five percent of the total value.

No annuitization. 8 year surrender.  10 if you want a 6.5% bonus.

[quote=the word]

You can select any of the subs they have available.  They(American Skandia) can shift funds into a fixed account if performance warrants, restricting access to subs for your entire investment.  I have only had this happen a few times.  And it was like five percent of the total value.

No annuitization. 8 year surrender.  10 if you want a 6.5% bonus.

[/quote]

Now I remember. That's the one where they're quick to move to the fixed bucket and slow to move back out. I'll be an EIA could make more  money than that  and guarantee the principal.

Lucky for my clients, they were up so much that this market dive hasn't created any shift to the fixed bucket. 

The possibility of being forced into a fixed bucket would cause me to not use the product.

This isn't the best product.  But sometimes I have do what i can to help my less sophisicated investors.  And those are alot, comes with the bank gig.  I usualy only use this to keep rollovers from going into CD's.

[quote=the word]

This isn't the best product.  But sometimes I have do what i can to help my less sophisicated investors.  And those are alot, comes with the bank gig.  I usualy only use this to keep rollovers from going into CD's.

[/quote]

Hard to argue with that.

the word,

that is interesting. talk to me about how much income your clients are pulling out? what withdrawal options are available?

I'm in the same boat as you. I came across this lady, 54 yrs old, widowed.

She: "I want to take income and be able to recoup all my money back if the market tanks"

Lines like these make me want to move to Iran, commit a minor crime and get hanged for it.

[quote=anabuhabkuss]

the word,

that is interesting. talk to me about how much income your clients are pulling out? what withdrawal options are available?

I'm in the same boat as you. I came across this lady, 54 yrs old, widowed.

She: "I want to take income and be able to recoup all my money back if the market tanks"

Lines like these make me want to move to Iran, commit a minor crime and get hanged for it.[/quote]

Sounds like 7 day put bonds or a money market account..........

She probably needs growth, but has been rolling CD's for 20 years............maybe it's time for an "inflation talk".........

She: "I want to take income and be able to recoup all my money back if the market tanks"

ME: I want to be 35 again. Isn't it nice to dream.    Now let's talk about the realities of investing and see what kind of income we can get for you with the appropriate amount of risk and safety nets......

[quote=Dust Bunny]

She: "I want to take income and be able to recoup all my money back if the market tanks"

ME: I want to be 35 again. Isn't it nice to dream.    Now let's talk about the realities of investing and see what kind of income we can get for you with the appropriate amount of risk and safety nets......[/quote]

Exactly.........:) 

Anabuhabkuss:

I don't use this investment for income.  However, i believe that any w/d reduces your baseline dollar for dollar.  From what you have relayed about your prospect, i wouldn't use this for her.  If your taking w/d and then are moved to the fixed bucket...ugh...be careful.

You need to talk to her about the lifetime five options on many annuities.  Are we talking about NQ or Q funds?

[quote=Dust Bunny]

She: "I want to take income and be able to recoup all my money back if the market tanks"

ME: I want to be 35 again. Isn't it nice to dream.    Now let's talk about the realities of investing and see what kind of income we can get for you with the appropriate amount of risk and safety nets......

[/quote]

How old ARE you?

I picture her being 32... With dazzling long blond hair and a runners physique... She drives a Lexus Hybrid and exhibits crazy sexy cool...

Am I close Bunny?

[quote=bluestars80][quote=anabuhabkuss]

the word,

that is interesting. talk to me about how much income your clients are pulling out? what withdrawal options are available?

I'm in the same boat as you. I came across this lady, 54 yrs old, widowed.

She: "I want to take income and be able to recoup all my money back if the market tanks"

Lines like these make me want to move to Iran, commit a minor crime and get hanged for it.[/quote]

Sounds like 7 day put bonds or a money market account..........

She probably needs growth, but has been rolling CD's for 20 years............maybe it's time for an "inflation talk".........

[/quote]

Dude don't get me started.

This lady's husband, the bread winner, dies in March. She's 54, uneducated (but not necessarily dumb) and has 424000 to her name. She lives in this big house and wants (i kid you not) 30,000 of income. She currently has this money invested in a Fixed annuity.

I give her the inflation talk, show her how long $425k will lasts with her lifestyle, and she gives me that line i quoted earlier. i show her a VA and she looks at me like im crazy telling me "I know in 7 years the market will tank". Everytime I came back with her with a logical question she would just smile and shake her head at me like i was a loon.

I haven't spoken to her in a few weeks after chalking her up to be insane beyond belief. But I was curious if there were something out there that, somehow, fit what she wanted to buy.