Yes.

How do you go about doing that. I haven’t found a new b/d yet, but I could still do some business with fixed annuities/indexed annuities to pay the bills?

If he doesn’t want to do securities, he should get rid of the broker/dealer.  Having a B/D makes the insurance business much more difficult because they still have control over what you do even if it is an outside business.

So Anon… how do you process business… if you don’t mind me asking? Do you go through an IMO?

I’m securities licensed so I do have a broker/dealer.   Fortunately, I don’t have to put my insurance business through them.  Sometimes I deal directly with the insurance company and sometimes I use an insurance brokerage.  

[quote=anonymous]If he doesn’t want to do securities, he should get rid of the broker/dealer.  Having a B/D makes the insurance business much more difficult because they still have control over what you do even if it is an outside business.[/quote]

You can get an independent “brokerage” contract with a company like Mass Mutual or Metlife and do nothing but fixed products (life, indexed and fixed annuities, LTC, disability).  There is no b/d involved and if you are on an independent contract, you get higher payouts usually than the career agents who actually work in the office.  If you want to do it, just contact any general agent of the insurance company you would like to sell and tell them what you want to do.  They would be more than happy to oblige. 

You might also be able to get a contract with an insurance marketing org like Crump where you would have access to many different carriers for fixed products.  You would have to contact them directly to be sure.  Their website is www.crumplifeinsurance.com. 

The best thing I ever did was to get rid of my b/d and only sell index annuities. 

[quote=army13A]

[quote=anonymous]If he doesn’t want to do securities, he should get rid of the broker/dealer.  Having a B/D makes the insurance business much more difficult because they still have control over what you do even if it is an outside business.[/quote]

You can get an independent “brokerage” contract with a company like Mass Mutual or Metlife and do nothing but fixed products (life, indexed and fixed annuities, LTC, disability).  There is no b/d involved and if you are on an independent contract, you get higher payouts usually than the career agents who actually work in the office.  If you want to do it, just contact any general agent of the insurance company you would like to sell and tell them what you want to do.  They would be more than happy to oblige. 

You might also be able to get a contract with an insurance marketing org like Crump where you would have access to many different carriers for fixed products.  You would have to contact them directly to be sure.  Their website is www.crumplifeinsurance.com. 
[/quote]

I do know that some brokerage contracts with insurers like the ones you mention above require a minimum amount of business be sent through in order to get renewals on the products you’ve sold.  Now if you’re only selling fixed annuities there are no renewals anyway, Some index will trail though.  Insurance companies will also let you buy into their E&O as an independent broker if you want.

there is a company called national brokerage I am actually in the process of contracting with them, They represent 40 insurance companys and there is no minimums.

I work for one of the top IMO’s.  Send a PM to me.  I can have someone call you and answer allof your questions.  BTW - we work with thousands of agensts that only do life, fixed and indexed annuity buisiness.

no… they are basically a whole life insurance policy…

You are better off buying tax free municipal bonds, treasury bills, or other fixed income instruments…

The only thing annuities do… is make the insurance company selling them a TON of money

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