Random Facts
June 28, 2023 by Sheryl J. Moore
Random facts:
– 20% – 20% = 0%
(I promise, it means something.)
– It is hard to replace an old annuity, with a new one, if there will still be surrender charges on the first contract, after the replacement;
– There are two indexed annuities with a first-year surrender penalty of 20%;
– Annuities with bonuses can be used to offset existing surrender charges on annuities that are being replaced;
– There are five indexed annuities with bonuses of 20%; and
– Recently the issuer of the longest surrender charge contract announced a major rate reduction on their inforce rates;
Coincidentally- we are in the most positive interest rate environment for fixed/indexed annuities in my 24 years in the business; and
– Distribution can be paid twice on the same money. Or even THRICE.
**********Don’t develop an indexed annuity with a double digit bonus, and tell me that you didn’t know what kind of business you will be getting.**********
I hope you folks put chargebacks on these annuities’ commissions, if the agent replaces YOUR contracts in the first 12 months, because obviously everyone else didn’t.
It is this kind of stuff that makes me SMH when others talk about “the wild west of annuities.” -sjm
Come on.
Be better.