Skip navigation

Guarantee 100% in ten years

or Register to post new content in the forum

122 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jun 13, 2006 2:00 am

[quote=TexasRep][quote=STL Indy]

[quote=scrim67]The accounts are 100% liquid just in case they need to use any of the funds.[/quote]

I don't think anyone would advocate putting anywhere close to 100% of a retiree's money into a VA.  Yes, annuities have surrender charges (and most good VA's are in the 3-6yr range), but what are the odds that a person would need all of their money liquid at a specific time? [/quote]

Maybe just stating the obvious here, but most reputable VA products have 0 CDSC versions offering the immediate liquidity to clients, but MUCH less commission (up front) to reps- trails are better, tho.

[/quote]

Yep.  Most of them have multiple commission options and multiple CDSC options (with different product names)... although I think you're talking about annuity commission options for investment advisors where they simply charge a wrap fee, correct?

Anyway, despite the onslaught of negative advertising towards full service brokers, since when is it against the law to make a little money in this business?  Just because there are two nearly identical policies from the same insurance company, with the only difference being 2-3yrs longer for surrender charges, with more commission being paid to the rep, doesn't mean it's a bad product.  The state insurance dept. had to approve of that product, even the longer term surrender one, and we do operate our businesses to earn a living, no?  I mean, we don't see TV ads about people who are tired of paying their attorney, CPA, MD, dentist, etc... for services rendered.  Why should it be any different in our profession?

Jun 13, 2006 3:42 am

[quote=STL Indy][quote=TexasRep][quote=STL Indy]

[quote=scrim67]The accounts are 100% liquid just in case they need to use any of the funds.[/quote]

I don't think anyone would advocate putting anywhere close to 100% of a retiree's money into a VA.  Yes, annuities have surrender charges (and most good VA's are in the 3-6yr range), but what are the odds that a person would need all of their money liquid at a specific time? [/quote]

Maybe just stating the obvious here, but most reputable VA products have 0 CDSC versions offering the immediate liquidity to clients, but MUCH less commission (up front) to reps- trails are better, tho.

[/quote]

Yep.  Most of them have multiple commission options and multiple CDSC options (with different product names)... although I think you're talking about annuity commission options for investment advisors where they simply charge a wrap fee, correct?

Anyway, despite the onslaught of negative advertising towards full service brokers, since when is it against the law to make a little money in this business?  Just because there are two nearly identical policies from the same insurance company, with the only difference being 2-3yrs longer for surrender charges, with more commission being paid to the rep, doesn't mean it's a bad product.  The state insurance dept. had to approve of that product, even the longer term surrender one, and we do operate our businesses to earn a living, no?  I mean, we don't see TV ads about people who are tired of paying their attorney, CPA, MD, dentist, etc... for services rendered.  Why should it be any different in our profession?

[/quote]

i totally agree- we need to make a living.

the zero CDSC are offered outside wrap accts by Hartford (Access), AmSkank and others-- of course there are others offered within the wraps--

i have no problem selling a 7 yr bonus/plus annuity within a IRA where the client really shouldn't/won't be accessing the money for 7+ years anyway--i.e. 48 to 52 yrs old-- and doesn't really qualify for a managed money acct based on size anyway--