CPA's and Annuities
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I’d like to get a better feel for your va pitch to the CPA’s.
I had lunch with a partner at a 100+ person firm yesterday, her parents were in some fixed annuities but they cashed out. I went to explain a bit of the pros and cons, but said for some people they are ideal, and mentioned the step stuff. It was more of a 'yeah, they are an option' sort of thing.[quote=OrDieTrying]I’d like to get a better feel for your va pitch to the CPA’s.
I had lunch with a partner at a 100+ person firm yesterday, her parents were in some fixed annuities but they cashed out. I went to explain a bit of the pros and cons, but said for some people they are ideal, and mentioned the step stuff. It was more of a 'yeah, they are an option' sort of thing.[/quote] I learned some of this from Mr. Moody, so any tips of gratitude should be sent to him. Whatever you present, present it in as much of a non-biased way as possible, at first. That means, get all the cons of the product in the open and out on the table. Then go over the pros. Then move into how real life applications of how the product fits into certain situations. Provide examples, because that's how people relate. Then offer choices. Let the audience choose what they want. Once they have indicated that, reaffirm their decision by offering your biased thoughts.[quote=snaggletooth][quote=OrDieTrying]I’d like to get a better feel for your va pitch to the CPA’s.
I had lunch with a partner at a 100+ person firm yesterday, her parents were in some fixed annuities but they cashed out. I went to explain a bit of the pros and cons, but said for some people they are ideal, and mentioned the step stuff. It was more of a 'yeah, they are an option' sort of thing.[/quote] I learned some of this from Mr. Moody, so any tips of gratitude should be sent to him. Whatever you present, present it in as much of a non-biased way as possible, at first. That means, get all the cons of the product in the open and out on the table. Then go over the pros. Then move into how real life applications of how the product fits into certain situations. Provide examples, because that's how people relate. Then offer choices. Let the audience choose what they want. Once they have indicated that, reaffirm their decision by offering your biased thoughts. [/quote]Feel free to call me "Hank." You've earned it.
Snags,
Don’t know if it was brought up, but for old-style annuities purchased in the last few years that don’t have growth on the withdrawal basis (the policy will probably be underwater, with surrender penalties), a cool thing for clients who don’t need the income, is to begin taking the income off it to fund a new living benefit annuity. That way you’ll still have market exposure on the income (usually 5% of the old annuity), and you’ll have the added benefit of getting withdrawal value step-ups and guaranteed growth.
And on NQ it’s a neat tax trick.
I’m getting to BOR on 3 annuities, so I’m forced to learn them, and see what is best. I need to come up with a few companies that have good stuff and figure a table to see which is most advantageous to the client. One I just got has a 10 year surrender!
[quote=OrDieTrying]I’m getting to BOR on 3 annuities, so I’m forced to learn them, and see what is best. I need to come up with a few companies that have good stuff and figure a table to see which is most advantageous to the client. One I just got has a 10 year surrender! [/quote]
Why do you even have an insurance license if you don’t sell annuities?