As I chat with various agents about annuity products, I’m amazed by how many agents selling Indexed Annuities are leaving an important element of “modern” annuities out of the mix.
While the push for annuities with high caps to replace CD money or IRA’s is the main focus for many, the cash value portion of newer annuities is only half of the equation. Since cash value growth is based on an index, what happens when that index experiences the “Bear” market? Obviously the advantage of Indexed Annuities is the owner is protected from any loss during an underperforming market. But, wouldn’t it be advantageous for your client if you could offer guaranteed growth during the market down years that would compound until the person decided to retire?
In March, New Horizons will be introducing a brand new annuity in selected states that will rival any other annuity on the market for Guaranteed Lifetime Income.
Enter the “Guaranteed Lifetime Income Rider.” For less than a 1% annual deduction from cash value, your client could be assured of growing the cash value of their annuity at a 7% compound interest rate, to be used for lifetime income (much like a pension plan).
Why offer only half of a full package?
When we sell only the Index side of the annuity, we offer a product that only offers half of the benefit to the consumer. I had one agent comment that in all the years he’s sold annuities, he has not once had a client ask him about “guaranteed lifetime income” associated with an annuity.
Isn’t our job about educating and offering products that are best for our clients? If you are not currently offering annuities with “Lifetime Guaranteed Income,” I encourage you to give me a call. I’d like to introduce you to several of the annuities we represent.
Find out First
In March, New Horizons Insurance Marketing will be introducing a brand new annuity in selected states that will rival any other annuity on the market for Guaranteed Lifetime Income. What a perfect time to get acquainted with this product. Give me a call and let me help you familiarize yourself with this new annuity so you in turn, may offer “the full package” to your clients.
Good luck, and good hunting!
