Life Insurance

Both American National & Protective Life  introduced new indexed annuities products the beginning of this month that have quickly become hot selling products. The American National product ( Strategy Indexed Annuity Plus)  is the product that I personally prefer. It can be sold with as a seven or ten year contract & it pays an upfront 1% credit enhancement. ASIA Plus ( American national Strategy Indexed Annuity Plus) has several different  indexed accounts as well as a fixed account. You client can split their money up between the different options.

Protective's product ( Income Builder) is as the name suggest, designed for a client looking  to build a source of income that they use over time.. It offers a fixed account & as well as three different indexed accounts & is most competitive for clients ages 60 and above. The product work best for clients who are not looking to take income right away as the  percentage the can withdraw increases 10 basis points every year ( including after they start withdrawals). Once they start the withdrawals, the benefit base ( account value) is locked thereby giving them a rising income!

The Diamond 5 is a single premium contract with a five year surrender penalty. The Diamond 7 is a flexible premium contract with a seven year contract based surrender penalty [i.e.- new deposits do not get a new surrender penalty).After seven years, your client can put money into this contract & take money out of it with no surrender penalties ( like a money market account)].

Traditionally, American Nationals best selling annuity has been their  Multi-Year Guaranteed Annuity. It currently offers rate periods of anywhere between 5-10 years. Your client client split the money up anyway the would like to ( put 1/6 in each rate period & thereby have laddered maturity dates)

Please visit American National Life's  website at www.img.anicoweb.com for more information on these annuities as well as several other annuities they offer.

If you are doing anything with qualified retirement plans, you really need to look at American National. They offer a a full service plan administration department that has some of the lowest cost in the industry, they have some great annuities you can use in the  retirement plan as well as very competitive life products