Agenda What is an annuity?



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tarix08.04.2018
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Agenda

  • What is an annuity?

  • Types of annuities

  • How do I identify a prospect?



What is an Annuity?

  • Annuity

  • A contract between you and an insurance company, under which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date.



The “Who” and “What”

  • Contract between

    • Insurance company
    • Contract owner (your client)
  • Insurance company

    • Accepts the client’s premium
    • Issues an annuity contract to the contract owner
    • Credits interest per the terms of contract
  • Until the contract owner



Why purchase an annuity?

  • Higher interest rate than other options

  • Tax deferred accumulation of assets

  • Pay no taxes until you withdraw the money

  • Ability to create a guaranteed income stream



Types of Annuities

  • Deferred

    • Fixed
      • Traditional
      • Index
    • Variable
  • Immediate Income









Common Features: Traditional Fixed and Index

  • Minimum guaranteed interest rate

  • No contract fees or product charges (other than surrender charges for early withdrawal)

  • Maximum premium without company approval: $1,000,000.

  • Issue Ages 0 – 90

  • Minimum Guaranteed Withdrawal Value



Common Features: Traditional Fixed and Index (cont’d)

  • Single premium and periodic flex payment options

  • Fixed and indexed account choices

  • Declining withdrawal charges over 3 - 14 years,

  • sometimes longer

  • Partial withdrawals (usually 10% per year) without charges

  • Market Value Adjustment

  • Death benefits that waive all charges



Fixed Annuities Have… S T Y L E

  • Safety

  • Tax Deferral

  • Yield

  • Liquidity

  • Estate Planning



Immediate Income Annuity



Identifying Prospects



Uses Of Annuities

  • Accumulate $s

  • Create supplemental income

  • Long term care expenses

  • Estate planning

  • Tax deferred CD alternative

  • Emphasize the insurance features of annuities:

    • death benefit
    • lifetime income options


Do You Recognize This Client?

  • 64 year old widower

  • No market experience

  • Looking for safe vehicle to place funds received from deceased wife’s life insurance

  • Wants these funds for his children

  • Doesn’t want a long-term commitment

  • Accustomed to CDs



Do You Recognize This Client?

  • 68 year old woman, retired

  • Moderate investment portfolio with dominant amount of equity investments

  • Not in need of immediate income

  • Looking for diversification

  • Wants principal protection



Do You Recognize This Client?

  • 70 year old husband and his 68 year old wife, retired

  • Current life insurance owner

  • Accumulated Assets

  • Need more Income



How to Start the Annuity Conversation

  • Beneficiary reviews

  • Prospecting letter

  • Client Appreciation events



Fixed Annuity Products

  • Traditional Fixed Annuities:

      • AG HorizonPlus (bonus)
      • AG HorizonMYGSM (bonus)
      • AG HorizonSelect®
      • AG HorizonSecure
      • AG HorizonFlex® (bonus)
  • Fixed Index Annuities:

      • AG VisionMaximizer® (bonus)
      • AG VisionAdvantage®
      • AG HorizonIndex® (bonus)
      • AG Global IndexSM Annuity Series
  • Income or Immediate Annuities:

      • AG Platinum Income Annuity®


Q & A

  • Thank You !

  • American General Annuity Marketing

  • 888.438.6933, option 3



Disclaimers

  • Annuities issued by: American General Life Insurance Company (AGL) 2727-A Allen Parkway, Houston, Texas 77019 and The United States Life Insurance Company in the City of New York (USL), New York, New York. AG Horizon Plus Annuity Form Number 040362, AG HorizonFlex Contract Number 04371, 04371N (New York), AG HorizonSecure Contract Number 05376, AG HorizonSelect Contract Number 05377, AG Global Bonus Index Contract Number 07109, AG Global 6 and Global 8 Index Contract Number 07371 or 07371N (New York), AG Vision Advantage Contract Number 06401, AG VisionMaximizer Contract Number 05490, AG HorizonIndex 04367.Extended Care Rider Form Number (if applicable) 04049, 03049, 03049N (New York). The underwriting risks, financial and contractual obligations and support functions associated with products issued by AGL and USL are the insurers own responsibility. AGL does not solicit business in the state of New York. Annuities and riders are not available in all states. State variations may apply contracts forms and applications and riders not available in all states. 

  • The information presented is general industry information and does not specifically describe any of our products; it is meant to be purely educational.

  • American General Life Companies, www.americangeneral.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including AGL and USL.

  • Withdrawals may be subject to Federal and/or State Income taxes. A 10% Federal penalty tax may apply to the taxable portion if withdrawals or surrender are made before age 50 ½. Annuity owners should contact a tax advisor regarding their specific situation.

  • Important: Prior to soliciting business, be certain that you are appropriately licensed and appointed with the insurer and that the product has been approved for sale by the insurer in that state. If uncertain, contact your American General Life Companies representative for assistance.

  • © 2009 All rights reserved.



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