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 * How to Sell Annuities: The Ultimate Guide


HOW TO SELL ANNUITIES: THE ULTIMATE GUIDE

In order to sell annuities, it is important that you understand what they are
and how they work. Annuities are a type of investment that provide a guaranteed
income stream for the holder. There are many different types of annuities
available on the market. Sometimes, life requires access to a large sum of money
and monthly stream of payments may not be enough, you may ask yourself:

I want to sell my annuity. Is it possible?

Yes, but it so it is important to do your research before selling them. In this
article, we will discuss the basics of annuities and how to sell them to your
clients!


WHAT IS AN ANNUITY?

An annuity is a contract between you and the issuer of the annuity. You make
regular payments, known as premiums or contributions, into the contract over a
period of time. Once this term ends, you will receive guaranteed periodic
payments for a defined period. There are also immediate payment options
available with annuities and they can be used as a source of funding for
long-term care.


WHAT ARE THE DIFFERENT TYPES OF ANNUITIES?

Fixed Annuity – A fixed annuity is an investment that provides you with
guaranteed interest rates, known as a crediting rate. In some cases, you may
also have the option to choose from a range of crediting rates. This type of
annuity is beneficial if you are looking for the maximum guaranteed return on
your investment, but it often comes with higher fees and lower liquidity than
other alternatives.

Variable Annuity – A variable annuity is an investment pool that provides you
with flexible options to invest in sub-accounts, typically mutual funds.
Contributions are used to buy units within the sub-accounts and interest is
earned based on the performance of those sub-accounts. Variable annuities may
have fixed or variable life insurance providing death benefits, which can be
helpful if you want flexibility with your investment choices without the risk
(or potential reward) associated with investing in the markets.

Fixed Indexed Annuity – A fixed indexed annuity is a unique type of annuity that
combines features from both fixed and variable annuities. It has a guaranteed
interest rate, like with a fixed annuity, but also provides you with the
potential to earn additional interest through index participation combined with
protection from loss of principal due to market volatility.


HOW ARE ANNUITIES SOLD?

Once you have learned about the various types of annuities, it is important that
you know how to sell them! Having a strong sales process will enable you to be
more successful when selling annuities. The first step in understanding how to
sell an annuity is to provide education and advice on what type of annuity would
be best for your client. Once you understand their needs and goals, it is much
easier to identify the right type of annuity that will meet those needs and help
them reach their financial goals.

The next step in the sales process is to provide information about what it takes
to qualify for an annuity. Many people believe that just about anyone can open
an annuity, but there are certain eligibility requirements that must be met
before you can purchase one. Once you have made sure your client meets these
requirements, it is important to gather all of the pertinent information that
you will need to open the annuity, such as Social Security numbers and
identification. Then it is time to compare different issuers of annuities so
that your client can find the best one for their needs.

In many cases, clients have concerns about how much they will be required to pay
in premiums each year. Once you have gathered information on how much they will
need to contribute, it is important that you explain the pros and cons of
annuities. It is also helpful to compare them to other investment options so
that your client can see which ones are most similar. Depending on their unique
needs, sometimes annuities will be their best option, while other times they
will make more sense as a secondary option to be used in conjunction with
another investment. In some cases, your client may decide that annuities are not
the right choice.

In the end, it is up to you and how you can help your clients reach their
financial goals by providing them with all of the necessary information about
annuities. As annuity providers are regulated by the state, it is important to
understand your state’s laws before offering advice or selling an annuity to a
client.

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