As an annuities sales agent or insurance representative, locating product specs and features feel time-consuming and perplexing. Often, when clients pose questions, we at the Annuity Consultants know all too well that it is imperative to locate the answer before the client loses interest or finds the answers elsewhere! Furthermore, we strive to help our clients find these answers to help agents maintain that trust necessary for financial transactions. People consider their finances as something key to their survival, or their children’s survival and rely on trustworthy individuals to assist them. It is incumbent upon an agent to find clear product specifications and features on annuity specs, even though those buried in blocks of texts or obscured due to heavy industry jargon. If an agent possesses the appropriate information, then the client will feel more satisfied with their product and better equipped for their financial future.
Every agent naturally wants referrals from their clients for a job well done. However, that does not necessarily entail that advising clients comes effortlessly. In fact, many agents commonly report that one of the most difficult tasks is becoming knowledgeable about the specifics of the products. For instance, comparing Fixed and Index Annuity Guaranteed Lifetime Withdrawal Benefits presents challenges when one has issues understanding the products individually. In fact, one might question, “What’s the difference between a fixed and variable annuity? What are the annuity specs benefits?”
A fixed, or indexed, annuity remains an investment tool where the annuitant and insurer agree to an investment contract. The contract entails that the annuitant pays the insurer an agreed upon amount over an agreed upon period of time. This type of contract guarantees that the monies invested will earn interest over the life of the agreement. The fixed annuity offers this fixed interest rate or gain and usually a guaranteed floor. In contrast to a variable annuity, the fixed annuity features a stable, predictable interest rate. The fixed annuity complements investors who wish to calculate how much the annuity will be worth at the end of the contract. Most agents are familiar with the basics of a fixed annuity, but the Annuity Consultants will provide you with the information above and beyond the bare minimum.
This specific type of annuity guarantees a floor, say a 2% interest rate, even if the market tanks. Some types might guarantee a floor of 0%, which means that negative years do not incur a loss. Fixed annuities indeed ensure the investor their original funds aren’t lost. Did you know that annuities are not required for use as retirement income? For some types of investors, annuities become paid out to beneficiaries directly. The annuity does not become part of a taxable estate upon the death of the annuitant. Lastly, the annuitant‘s funds remain non-taxable until withdrawal, allowing larger sums to accrue during the period of annualization.
Now, consider fixed index annuities comprise only one type of annuity on the market. At the Annuity Consultants, we provide the most advanced search engine in the annuity specs market and save businesses considerable time. These complicated, individual products present challenges to agents because a client will want to know about other products. They will have natural questions about fixed index annuities, such as wanting to know which product is the best? For this reason, we provide reports and appropriately benchmark the existing annuities on the market. We do this with the purpose of having our clients avoid rate committee preparation and for having side-by-side product comparisons. If you are in need of an annuity product management system, we offer one that sorts product and rate information of annuity distributions directly to one’s web portal. In conclusion, the Annuity Consultants proves a business’s means of staying afloat in a sea of information.