Fixed Annuities
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etj4588:
I'm glad I decided against LPL.
That was to Indy... LPLs grid.[/quote][quote=San Houston]
What grid?
I'm glad I decided against LPL.
San Houston:
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.
That was to Indy... LPLs grid.[/quote][quote=etj4588][quote=San Houston]
What grid?
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.
theironhorse:
See above. If you're doesn't go through the grid, you're probably getting screwed.your fixed stuff goes through the grid?
Indyone:
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote] Or you could just go the deal direct route.
That was to Indy... LPLs grid.[/quote][quote=San Houston] [quote=etj4588][quote=San Houston]
What grid?
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote] Or you could just go the deal direct route.
Read slowly...that's what I do with Jackson. Not every carrier offers that option.
Indyone:
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote]
Are you positive about the 4.25%? With allianz perks and marketing money, I still come out a little ahead of 4.25*0.9.
That was to Indy... LPLs grid.[/quote][quote=San Houston] [quote=etj4588][quote=San Houston]
What grid?
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote]
Are you positive about the 4.25%? With allianz perks and marketing money, I still come out a little ahead of 4.25*0.9.
i can double check, but everything i have done (and have checked them) all give me same/better payout without going through my grid.
good point though. never assume anything!
San Houston:
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote]
Are you positive about the 4.25%? With allianz perks and marketing money, I still come out a little ahead of 4.25*0.9.[/quote] Yeah, I'm definite on the 4.25%...for the up to age 75 band. Then it went to 3.25 and 2.25 for the 81-85 age band. That last one really pissed me off as my general was showing only 1% compared to 2.25%. Admittedly, I'm a new producer with Allianz, but one of the guys on the fast team indicated that I'd get the perks also. The next time I talk to them, I'll try to get a clarification on that.
That was to Indy... LPLs grid.[/quote][quote=Indyone][quote=San Houston] [quote=etj4588][quote=San Houston]
What grid?
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote]
Are you positive about the 4.25%? With allianz perks and marketing money, I still come out a little ahead of 4.25*0.9.[/quote] Yeah, I'm definite on the 4.25%...for the up to age 75 band. Then it went to 3.25 and 2.25 for the 81-85 age band. That last one really pissed me off as my general was showing only 1% compared to 2.25%. Admittedly, I'm a new producer with Allianz, but one of the guys on the fast team indicated that I'd get the perks also. The next time I talk to them, I'll try to get a clarification on that.
I get the marketing money, but what types of perks are you guys getting from the wholesalers?
Allianz Domintor just slashed rates yesterday. 3.80% to 4.00%. Down from 4.70% to 4.90%.
Actually, thy cut rates at 5pm Tuesday. American National is paying 4.90 for 6 years.
Indyone:
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote]
Actually, LPL is a VERY rare bd that passes through 100% of what your general agent was making plus 100% of the bonus. They act as their own general agent, making it easy to do what your GA used to.
You do need some background on how comp and the override are structured though. the comp you were getting is 100% of producer level comp. Every carrier divides it into producer and GA levels. Anyone operating above the producer level has production minimums that start at about 5-10 million of annual premium to keep, and the minimums go up as the comp and bonus do. In this day and age, carriers are strictly reinforcing their production minimums. To get the .25% bonus that LPL is passing through to you, you would have to be doing 50 million or above.
That was to Indy... LPLs grid.[/quote][quote=San Houston] [quote=etj4588][quote=San Houston]
What grid?
I'm glad I decided against LPL.[/quote] Hank, I know where you're coming from, but after running insurance outside of LPL for awhile, I discovered how the general agent was making their money. Take the Allianz Dominator, for example. Had I ran those tickets through my general agent, I would have collected 3%. The same ticket through LPL is 4.25%. Even at 90%, that beats 3% easily. I found this to be true for every company I looked at except for producing directly through Jackson. I don't know if all B/Ds pay better than general agent's, but I know that LPL and ING do. Frankly, I was pretty pissed at my general agent when I found out how they were making their money. They'd always told me "100% payout". They just didn't tell me how much lower that payout started. If it weren't for JNL, I wouldn't sell any insurance away.[/quote]
Actually, LPL is a VERY rare bd that passes through 100% of what your general agent was making plus 100% of the bonus. They act as their own general agent, making it easy to do what your GA used to.
You do need some background on how comp and the override are structured though. the comp you were getting is 100% of producer level comp. Every carrier divides it into producer and GA levels. Anyone operating above the producer level has production minimums that start at about 5-10 million of annual premium to keep, and the minimums go up as the comp and bonus do. In this day and age, carriers are strictly reinforcing their production minimums. To get the .25% bonus that LPL is passing through to you, you would have to be doing 50 million or above.
Squash1:
Squash, I'm still selling them like hotcakes to savers.Anybody having success with the fixed annuities? Rates keep falling
Squash1:
I've only been selling 5 year MYGA contracts, no mva, 100% Principal Protection.Who are you using? 3/5/7year?
Mike Damone:
I’ve only been selling 5 year MYGA contracts, no mva, 100% Principal Protection.[/quote]
Are you calling new prospects are just existing clients?
[quote=Squash1]Who are you using? 3/5/7year?
I’ve only been selling 5 year MYGA contracts, no mva, 100% Principal Protection.[/quote]
Are you calling new prospects are just existing clients?