Selling Annuities

For those agents who only market and sell Life Insurance or Medicare Supplement, it can be challenging to expand and introduce new products to your clients.

However, I strongly encourage you to look at annuities. They're not only a great solution to fill in financial gaps for a huge number of seniors, but they can help you reach your production goals.

For Michael Sams, annuities are his most-sold product – even more than Medicare Supplements. In 2020, Sams did $5,675,878 in annuity production alone.

For those of unfamiliar with annuities, an annuity is a retirement savings vehicle. It’s not technically an investment, because you’re not actually investing in the market. Rather it uses the stack market as a measure.

That measure determines your client’s gain. They will receive a return on thier money that is designed to help them save for retirement.

They can also use an annuity to pass on money to your beneficiaries. Annuities can help them avoid probate at death, which can be expensive and time consuming.

Most individuals use annuities as a retirement savings vehicle, while keeping the peace of mind that their money can be easily transferred or dispersed to named beneficiaries at death.

It works like this: An annuity requires a contract between the consumer and the insurance company.

The consumer deposits a lump sum (or periodic payments), and the insurance company delivers on their promise as it’s indicated in the contract.

A common example of a contract is a certain rate of return on the money and with fixed annuities or fixed indexed annuities a guaranteed floor of zero percent. Your clients will not loose their initial deposit if they keep the annuity for one year. Less than that and may loose the cost of some fees or a bonus, if applicable.

For example, the consumer might deposit a lump sum of $50,000. The insurance carrier then delivers on their promise of a 6% interest rate over the course of, say, 7 years. If at any point during that period the stock market drops below zero, your client loses nothing.

Not only does Legacy provide the carriers for Annuities agents are looking for but also, the training needed to start a conversation. We’ll help you overcome the most heard objection: “I’ve already got a guy for my retirement”.