The fixed annuity arena is seeing a resurgence of carriers that waited on the sidelines until a more favorable environment occurred. Due to fierce competition, this last quarter should see higher caps for indexed products and increases for fixed rate products. This is welcome news.
Fairlane’s 40+ years of annuity experience benefits our producers by omitting products with complicated indices and ridiculous rider fees. We can’t expect our representatives to explain how a product works if it’s obscure. With that said, below are a few quality products that have been enhanced for the 4th quarter and are worthy of your review.
EquiTrust Life’s MarketValue Index has a high 55% participation rate or annual point-to-point cap of 6%, 10 year surrender charge, and an increased commission of %. This FIA is one of our top selling consumer-centric index annuities. Please review the details of this product and the MarketPower Bonus Index with a new, higher 12% up-front Premium Bonus.
An outstanding non-indexed annuity is the ChoiceFour from EquiTrust Life. 4.29% first year rate, 2.75% base renewal rate, nursing & terminal illness features, 6 year surrender and % commission. NOTE: EquiTrust has an incentive trip for producers to Napa Valley in June 2019 for qualifying life and annuity premium.
Call our marketing staff to hear more about the products that will best suit your specific client’s needs and investment temperament.
Ronald J. Lane