August is here already and so are some strong short-term fixed-indexed annuity (FIA) products that can be utilized in place of a CD or MYGA. Due to several factors – not the least of which is the inverted yield curve – carriers are able to issue short-term FIA contracts with solid rates.

With MYGA rates around hovering the 5% (ish) range, why not present clients with the opportunity to utilize a fixed account during year one that is at (or near) what a five-year MYGA is yielding? Or perhaps try a blend of fixed account and a high-cap S&P 500 annual point-to-point strategy. With today’s rates it is hard to miss on an FIA.

Here are a few examples …

Example One:
5 Year FIA with 7% commission, 140% participation on an annual point to point volatility-controlled index, 4.50% fixed account.

Example Two:
5 Year FIA with 3% commission, 11% S&P 500 annual cap, 5.25% fixed account and 150% participation on an annual point-to-point volatility-controlled index.

As you can see, not only can these five-year FIA products help your clients accumulate better than a MYGA or CD, they also pay a fair commission to the agent. We can help navigate the annuity universe and have the best service/back-office in the industry. These short-term rates cannot last forever, so my advice is to take advantage of them now before the winds of change sweep through the interest rate environment.

If you are looking for sales ideas or strategies to combat your MYGA woes, schedule a call with one of our team members, call us at (877) 844-0900,  or e-mail us at info@ohlsongroup.com.

The era of easy money is over – we all know that. The Federal Reserve has just increased rates at the July 26th meeting to 5.25-5.50%. This can only bode well for our industry – here is why:

FIA rates – just like interest rates in general — are at or near historic highs. We have S&P 500 annual point-to-point strategies with cap rates of 12%. We have fixed accounts on FIA products at or above 5.25%. Volatility-controlled index strategies – with no caps – have participation rates in the triple digits. All of these points are a direct result of higher interest rates set by the Fed.

Income rider payouts, roll-ups and rider bonuses have also ballooned. We now have an FIA with a GLWB rider that offers a 40% bonus to the income base, day one. This also comes with an optional income doubler. Strong payout rates, too. This is just one example of the powerful features on today’s income rider offerings.

So, the time to act is now! Consumers are nervous about the state of the economy, geopolitical events and way too many other things to list on this short commentary. Prospective annuity buyers are looking for someone to show them the way to a smooth, safe retirement. You have the tools in your toolbox to assemble the plan they are seeking!

We can use the “magic” of annual reset, premium bonuses, income bonuses, income doublers and a minimum guaranteed rate of return to help get folks on the safe path to retirement.
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Looking for product or sales ideas? Need annuity leads? The best back-office in the industry? Give us a call today – our team is standing by and is ready to go to work! 

As we sail into the second-half of 2023, the sentiment I hear from agents is the same. They are selling more annuities than ever before – but also more MYGAs and traditional fixed annuities than ever before. Who can blame the consumer for balking at an FIA with a 10% S&P 500 cap, when they can get a five-year MYGA that guarantees upwards of 5.40%?

This is quite the conundrum for the agent whose experience tells her/him that the fixed-index annuity (FIA) will likely net a higher return for the client in the long-term. The FIA will also provide significantly more commission to the agent, as well as living benefits that the MYGA cannot provide.

Let’s explore some ways to spice up your FIA efforts and show the client that the FIA is built for more than just accumulation. We have guaranteed income for life, income increases for chronically-ill clients and more. This is where we show the prospect how the “tail can wag the dog” on the FIA.

Death Benefit Riders:
We have top rated carriers that feature FIA products with a guaranteed 10% roll-up to for death benefit purposes – whereby the beneficiary receives the higher of the annuity account value or the death benefit account – whichever is higher. Additionally, the indexing strategies are competitive as well, due to the high interest-rate environment.

HUGE Income Bonuses:
There are now several carriers with income-base bonuses of up to 40%! That 40% (for income purposes) is a great way to grab your client’s attention. This product also comes with an “income doubler” if a client becomes chronically-ill. Crediting rates are solid as well. At the end of the day, nearly every survey shows that the top concern pre-retirees have is running out of money. The guaranteed income feature of FIA products will help you pivot from the MYGA sale to the FIA.

Great Fixed Accounts on FIA Products:
Several carriers are making it easier on the agent by giving the agent the opportunity to provide clients with the best of both worlds … a high first-year fixed account rate and great index strategies. One carrier in particular offers a 6.75% first-year fixed-rate. The current one-year S&P 500 cap rate is over 11% - and this carrier guarantees that next year the S&P 500 cap rate will remain over 11%.

What a nice story to tell the prospect … “I understand you want to take advantage of these high fixed rates. How about we put you in the fixed bucket year one and guarantee you 6.75%. Next year, we will know that the cap rate on the S&P 500 will be the same and we can test the index waters then. Remember Mr./Ms. Prospect – with me, you cannot lose money either way!”

Putting it all together, the time is now to pivot to the FIA. Getting into the FIA now gives your client a great opportunity (maybe the best we will see in decades) to get in while rates are high and hopefully benefit from equally high renewal rates – even if rates dip in the future.

Give one of our annuity marketers a call to discuss even more ways we can assist you in putting more FIA sales on the board, getting your clients into a better situation in the long run – and putting more money in your pocket at the same time!

​While obtaining leads is most advisor’s number one priority, the 2nd most important step is closing the sale. In order to do this, you must put yourself in your client’s shoes and ask the appropriate questions. Along with that, you should provide them with professional services to build relationships, trust, and position yourself as their trusted financial consultant. Let's discuss 5 sales tips for annuity selling insurance agents to help you boost sales and continue achieving your goals:

1. Understand Your Target Market:
The first step in selling annuities is to have a deep understanding of your target market. Who are your ideal clients and what are their needs and concerns? What are their financial goals? Understanding your target market will enable you to tailor your sales approach and messaging to resonate with them. This will help you identify the right prospects and focus your efforts on those who are most likely to be interested in purchasing annuities.

2. Build Trust and Establish Relationships:
Selling annuities is not just about making a one-time sale, but also about building long-term relationships with your clients. Trust is crucial in the insurance industry, and it takes time to establish. Be honest, transparent, and professional in your interactions with clients. Take the time to understand their financial situation, goals, and concerns. Educate them about annuities and how they can benefit from them. Listen attentively to their needs and provide personalized solutions. Building trust and establishing relationships will help you earn repeat business and referrals, which are essential for long-term success in annuity sales.

3. Be a Trusted Advisor:
As an insurance agent, it's important to position yourself as a trusted advisor rather than just a salesperson. Your clients are looking for someone who can provide expert advice and guidance on their financial matters. Educate yourself about annuities, including the different types, features, benefits, and risks. Stay updated with the latest industry trends and regulations. Be prepared to answer questions, address concerns, and provide accurate information to help your clients make informed decisions. By positioning yourself as a trusted advisor, you will build credibility and confidence with your clients, leading to increased sales.

4. Customize Your Sales Approach:
Not all annuity prospects are the same, and a one-size-fits-all sales approach may not be effective. Customize your sales approach based on each client's unique needs, goals, and preferences. Tailor your messaging to resonate with their specific situation. Use language that they can understand, avoiding ​technical jargon. Use visual aids, such as charts or illustrations, to simplify complex concepts. Be flexible and adaptive in your sales approach, and be prepared to adjust your strategy based on the feedback and responses from your clients. A customized approach will show your clients that you genuinely care about their individual needs, which can significantly impact your sales success.
 
5. Provide Excellent Customer Service:
Excellent customer service is essential in any sales role, and annuity sales are no exception. Be responsive to your clients' inquiries, whether it's through phone calls, emails, or in-person meetings. Be prompt and reliable in providing information or assistance. Be patient and empathetic, especially when dealing with clients who may have concerns or questions about annuities. Demonstrate professionalism and integrity in all your interactions with clients, even after the sale is made. By providing excellent customer service, you will not only retain your existing clients but also receive positive reviews and referrals, which can contribute to your sales growth.

Now that these tips are fresh in your head, it's time to reach out to your leads. Dig into your CRM or prospect pool and see how you can help them. Perhaps it's through providing some quotes or wealth transfer strategies, sending educational consumer materials, or maybe re-introducing yourself and remind them you're here for them. Just because a lead hasn't converted yet, doesn't mean they won't.
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Prospecting leads is similar to planting seeds on a farm. You have to nurture those seeds with the right nutrients, care for them, and wait patiently for the seeds to sprout and grow before you can harvest the crop. Not all of the plants will survive, but if you have enough plants to nurture, your farm will inevitably yield enough crops to be successful and meet your yield goals. For this reason, it’s important to always be collecting and planting new “seeds” to keep your sales funnel in pristine condition.

​We all know that, unlike milk, we don’t have an expiration date stamped on our body. When you are young, the question is, “if I die...” and when you are older, it is, "when will I die...” Yes, one of the most valuable assets that we have is time. We just don’t know how much we have.

Okay, call me a generalist and basic. I admit, I believe that a life insurance and annuity sales presentation needs to be basic and probably a little boring. We take a look at expenses, both essential and discretionary, current or projected retirement income, and assets. We look for the shortfall and solve the problem. You know, “tell me how much you need and when you need it and I will tell you exactly how much money we need to fulfill your dreams." Do you have a presentation like that?  Did you say NO? Well, let’s fix that.

The Ohlson Group does more than provide products, marketing research and educational tools for you. We have a presentation called "The Five Financial Hazards” that will make your next fact finder and presentation the best that you have ever had. Trust me… it’s basic, boring, and I started using this when I started in the business. Yes, it is pretty basic, but good enough that I earned Life Membership in the Million Dollar Round Table.

Click to speak to a marketing consultant and find out how the 5 Financial Hazards presentation will change your clients lives... and yours. 

Have you seen all the talent shows that are on television today? I must admit, they draw me in, and some are pretty darn good. While The Ohlson Group is not on one of those shows… we should be. Let me explain why.

While you produce “financial magic” with your clients and prospects, we do it for you. Let me explain. Here is a magic trick:

• The agent/advisor gives us $1,500
• We advertise and generate digital annuity leads using this payment
• The consumer gives us their information like age, state, email address, etc.
• And these leads are forever tied to the advisor and their business

Here is where the real magic comes into play for you.

• We provide you with 10 leads with the information I just stated before
• The average agent (and I know that you are better than average) gets three (3) appointments either face to face or virtually
• The average agent (and I know that you are better than average) makes one (1) sale

The average sale is larger, but let’s just say the consumer purchases a $100,000 FIA from you. At 6%, you make $6,000… WOW! Now let’s talk percentages. That is a 400% return on your lead investment!

Gang, if you are doing $250,000 per quarter in FIA sales, we provide you with a bonus. This bonus can cover most, if not all, the costs of your leads. At this production rate, we'll also reduce the lead cost to $125 per lead, as opposed to $150 per lead.

So, if you are into financial magic, need more leads, or sell at the most competitive rate in the business, request a talk with one of our financial magicians and see if there is availability in your market place. While we await a conversation with you, I am going to disappear. The Ohlson Group…a different (and magical) experience.