Insurance People

Start Growing Your Annuities Solutions

Annuity solutions present an enormous and often untapped opportunity for independent insurance agents that work with seniors. With annuities solutions you may be able to generate more revenue for your practice while providing additional help and resources to your existing clients.

If you have been wondering how you can take your practice to the next level, adding annuities to your list of services could be the answer.

What Type Of Annuities Can I Sell?

There are 3 main types of annuities, which include:

Fixed annuities

Single Premium Income Annuities (SPIAs)

Variable annuities

There are also 3 additional types of annuities that fall under “fixed” annuities including:

Traditional Fixed

Multi-Year Guaranteed Annuities (MYGAs)

Fixed Index Annuities (FIAs)

How Annuities Can Help You Reach Your Production Goals

Annuities can be great for people who are near retirement age because typically they help eliminate some stock market risk which can be problematic for many seniors who are heavily invested and concerned about stock market volatility.

For licensed insurance agents who have been primarily dealing with Medicare Supplement sales, it does not have to be difficult to branch out and introduce new products to your clients, especially when these products can help them reach their financial goals.

When it comes to annuities, they’re not only a great solution for many seniors, but they can also be the missing tool that helps you reach your production goals and generate more revenue than ever before.

If you would like to learn more about how annuities sales to seniors can help take your practice to new heights, contact us today.

Am I Qualified To Sell Annuities?

● Fixed annuities
● Fixed Index Annuities

To sell these, the only thing that is required is being a licensed life insurance agent.

The requirements to become a licensed life insurance agent vary depending on the state you are in but will often include passing educational courses and a licensure exam.

● Variable Annuities

Due to the fact that variable annuities are classified as securities, the licensing process is a bit more complex.

In order to sell variable annuities, an agent would be required to pass either a Series 7 test (which entitles them to sell most types of securities) or both Series 63 and Series 6 tests (which are tests more specifically focused on mutual funds, retirement plans, insurance products, and variable annuities).

Continuing education may be required.

Let Us Help You Grow

Whether you need an RIA or Money Management, we have the knowledge, experience, and the tools to help you grow and differentiate yourself from the competition in your area.