Happy New Year - Look At Fixed Annuities
Annuity Agent Journal
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A monthly guide for insurance agents
reviewing fixed annuity product quality and performance.
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Annuity Review
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(Click for PDF Format!) January 2007 |
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Happy New Year - Look At Fixed Annuities Deferred Annuities - Single Premium (SPDA)By far the most interesting SPDA right now is the Benefical Life Advantage 1. 5.03% average in its first 7 month and a 1 year walk away. This is the only fixed annuity our agents have found to seriously compete against short term products. Another interesting SPDA is the Guaranteed Step-up Increasing Rate Annuity! The rate increases each year guaranteed for the 5 year term. Currently, the rates for years 1-5 are 3.75%, 4.25%, 4.50%, 5.00%, and 6.00% in year 5! That is a 4.70% Yeild, but in year 5 your client is earning 6.00% and that is what they will remember! FSD's pick for outstanding client oriented deferred annuities in 2007 is Beneficial Life. Indexed Annuities - They are FIXED annuities. (FIA)Indexed Annuity maturing at the end of 2006 and the start of 2007 have been doing very well. Over 9.00%, most caps were maxed out and even some monthly cap options did very well, 10%+ range! This year we still love the ING USA product line. ING USA has some of the best client marketing materials such as back modeling "historical" illustrations, CD presentations, brochures and on-line product information tours. The industry has responded to ING's new straight participation rate crediting method by introducing "copy-cat" type products. Some of these new products are "1 uping" the interest rates at ING to get some attention. This could be a win for the client at first, but we will have to see how the renewal rates come back in the future years. Currently the highest straight participation rate is 60%. Increasing Rate Annuity! 5.10% Over 5 Years 1.00% Premium Bonus · Year 1 is 3.95% Guaranteed· Year 2 is 4.45% Guaranteed · Year 3 is 4.70% Guaranteed · Year 4 is 5.20% Guaranteed · Year 5 is 6.20% Guaranteed 1.00% Commission (0-90) OK,TX,RI,VT,WV |
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