July 2009 Archives
151a and Indexed Annuities
MGAs - We Need Your Help!
We understand it's the end of summer and everyone is busy but, we need your help - and we need your help now!
Following a very successful fly-in in Washington (for details and pictures see www.sec151a.com and click on the airplane icon), we have plenty of work to do. Now we must activate the hundreds of agents and producers who support our cause. We need individual agents to get involved in order to keep building momentum in favor of our legislation.
Here's what we need each and every MGA to do in order to magnify our impact on Congress. If each MGA identifies 10 - 25 agents who will get active, we can generate hundreds, and possibly thousands, of calls into Congress. This will have a significant impact!
Steps to help:
- Identify 10 - 25 agents who will help us. Take steps to ensure these agents express their views to Senators and Representatives using the tools listed below.
- Make sure these agents visit the website www.sec151a.com and use the resources available. Tools include an elected official "finder tool" as well as other helpful items needed to express their views on 151a such as:
- Sample letter to Representatives
- Sample letter to Senators
- Reasons to sponsor HR 2733
- Reasons to sponsor SB 1389
- Talking points - Senate
- Talking points - House
August is the perfect month to call elected officials who are on recess back in their states/districts. It's also beneficial to visit a town hall meeting to meet personally with their elected officials.
Other creative ways to help spread the word:
- Blast emails to all your agents
- Discuss 151a and what agents can do at training sessions
- Help find agents in our target districts by matching your agent addresses with our target district list
- Report back - it's very important we know what agents and MGAs are doing. Please email nannuities@nacolah.com so we know of calls, letters and visits to elected officials, and can leverage those efforts.
Thanks for all your help. Because of your hard work, our voices are being heard in Washington!
College Planning Workshop
The College Planning market is a multi-billion dollar industry. As a financial advisor, when you use the right tools, strategies and techniques, you can work within this market and generate outstanding sales in life and annuity products.
Attend the Upcoming AMZ College Planning Training
Attend the upcoming AMZ College Planning training to learn a turn-key system that:
- Puts you in front of leads wanting to talk to you immediately
- Shows parents how to pay for college without bankrupting their retirement
- Position your practice in the community to receive an almost unlimited stream of referrals, and you see all of the client's financials—without wrestling for the information
- Best of all, we do all the college planning work with the families—you take care of positioning the most suitable products
Through our training and program, we've helped students receive a minimum of $5,000 per-year for college education—and this money does not need to be paid back. Producers using our system are uncovering sales and building relationships for life.
Call (866) 588-8922 now to register for this turn-key marketing system. Seats are limited!
Recent Commission Changes
Over the past several months the Annuity Industry has been evolving rapidly as carriers react to economic pressures. Changes in product offerings, commissions, and company practices have shifted to meet the various needs of the carriers in order to adjust their business model to fit their overall objectives. Some carriers have even exited the business for the time being.
Most recently Allianz announced a change to their Master Dex X commission. The commission changes makes way for a positive increase to the bonus offered to the customer. While they are not the first carrier to reduce commissions or make changes to how they pay their commission, they are the most recent in a string of carriers making such changes.
While we individually communicated each of the following changes to a field distribution partners, AMZ Financial Insurance Service thought that it may be prudent to recap the changes that have occurred in the past 60 days regarding insurance carrier commission changes. The carrier’s formal announcements (where available) have been compiled as well so that you have all of the most current information at your finger tips regarding this important topic.
| Carrier | Product | Recent Changes |
|---|---|---|
| Allianz | Master Dex X | Lowering first year commissions by 1% effective July 21st to make room for product improvements |
| ING | Secure Opportunities Plus | Lowered first year commissions by 1% on June 1st |
| American Equity | All Products | Began paying Commission over 3 years on June 1st |
| Forethought | Most Products | 50 Bps decrease on most products effective July 7th |
We understand that you have many choices when placing your annuity and life insurance business, and we thank you for giving us the opportunity to earn it.
For any questions, please contact Mark Triplett at (866) 204-7712 x106.
Keep your AML current
Anti-Money Laundering Act is required to be completed every two years by agents. This only takes 10-20 minutes to complete and is free! Go to www.LIMRA.com to complete.