Disclaimer: Interest rates change often. This article will be updated on a quarterly basis, but rates may change between those updates. At any time, you can review current annuity rates here.
Welcome to the Q2 edition of our annuity update! The moral of the story this month is: no news is great news... with a small but positive update from Heartland!
As we head into springtime, I'm here to guide you through the latest trends in the senior annuity market and share some insights from what we've been seeing recently.
Introducing Our Annuity Mentorship Program
We mean it when we say we want to help every agent feel confident with annuity sales. There's still a lot of hesitation because talking about money can be intimidating. To help with that, we've developed what we're calling the Annuity Mentorship Program.
You essentially get paid to get trained!
We'll write the annuity for you while you maintain your client relationship and receive a 50/50 commission split.
How it works:
- You bring an interested client (no cold leads)
- Get contracted with the carrier
- An experienced annuity writer handles the appointment
- You observe and listen in on the process and earn your split
This program is perfect for agents new to annuities or those who prefer to focus on their core business.
You can participate once to learn the process or make it an ongoing arrangement – the choice is yours. Get paid while you learn, and turn interested clients into satisfied customers without having to become an annuity expert yourself.
Interested in the Annuity Mentorship Program? Call our office at 888-780-7676 and ask for Kirk!
MYGA Updates
While we've been seeing very little fluctuation in MYGA rates over the past few months, we do have some positive news to share!
Heartland Rate Update (Effective March 26, 2025):
- 5-Year MYGA: Rate increasing from 5.40% to 5.45%
This modest but positive adjustment on Heartland's 5-year MYGA shows some movement in an otherwise stable market.
In previous years, Q2 sometimes brought carriers introducing higher promotional rates to attract business, and it seems Heartland is making the first move this quarter with this small but welcome increase on their 5-year product.
Carrier Spotlights: Heartland & SILAC
I know we keep featuring Heartland, but I have to give them another shout-out! Their rates have held steady, and their service continues to impress. When you're working with transfers, their team is super responsive and keeps the process moving smoothly.
I recently joined a call with SILAC and learned some exciting news: starting at the beginning of April, they'll begin accepting inherited IRAs. This is significant because not all carriers accommodate these accounts.
They're also making improvements to some of their FIA products to enhance their competitiveness. While AM Best currently has them at a B rating, we're watching for potential updates to their rating in the coming months.
Use the Annuity Desk Display
I strongly recommend utilizing our desk display featuring current competitive rates.
For now, I'd suggest focusing on a 5-year MYGA at the newly increased rate of 5.45% (Heartland), as they're offering one of the highest rates available through our contracts.
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The display is a template that's easily customizable, so when rates change, you can quickly change it and print off a new copy. It also makes a great leave-behind for clients to review or share with their spouse.
The desk display is an excellent passive marketing tool that generates client inquiries. Simply place this eye-catching flyer on your desk, and you'll find clients asking you about fixed annuities rather than the other way around.
Conclusion
Q2 is shaping up to be a great time for annuities. The market stability we're seeing provides a solid foundation for your sales efforts. If you're already selling annuities, now's the time to double down on your approach.
If you're just getting started, don't worry—begin with one or two carriers, get comfortable, and then expand from there. Or take advantage of our new Annuity Mentorship Program to learn while you earn!
As always, I'm here to help. Set up a call with me by clicking the banner below, and let's make the most of these opportunities together!
