Due to the low interest-rate environment, Aviva is announcing changes to the BalancedAllocation Annuity products, effective for all BAA applications received after September 30, 2010:
You have until September 30, 2010 to submit your BAA business and take advantage of the current rates.
These types of rate adjustments are not isolated to just one carrier. Companies across the industry are reducing interest rates on fixed annuities.
This is a direct reaction to what is occurring in the broader economy. Treasury bond yields are currently at or near all-time lows. NPR reported on August 20 that “the interest rate on two-year Treasury bonds hit an all-time low this morning: 0.47 percent. Yields on 10- and 30-year bonds are also super low.”
If a producer sold annuities primarily based on rates and bonuses in the past, that producer may struggle in this environment. Now is the time when you need to identify your clients’ needs and come up with solutions to their problems.
Senior Market Sales can show you proven concepts to help you with:
For coaching on how to incorporate these concepts on your next appointment, call 1-877-645-4939.