Fixed annuity rates continue to climb, providing us with some of the best interest rates we've ever seen.
This couldn't come at a better time as a recent report from Legal & General Retail revealed that nearly one million pre-retirees over age 55 are considering an annuity for the first time as they prepare for retirement.
While 5-year annuities are often our sweet spot, even shorter terms are giving customers access to over 5% returns.
As an example, the 3-year Safe Haven MYGA from Atlantic Coast Life (ACL) is offering 6.20% in the first year and 5.20% in years two and three. That's an effective compound level rate of 5.53%! (This rate is effective January 11, 2023.)
A shorter term allows your customer to get comfortable with an annuity, and with these killer rates, they really can't go wrong.
Agents who are signed up to get our 5-year Fixed Annuity Tip Sheet get timely updates to our most competitive MYGAs, helping them better serve their senior clients.
Interest rates over 4% excite us all and catch the eyes of senior consumers. With plenty of great carriers offering 3 and 5-year MYGAs at over 5% interest rates, it's a fabulous time to be in annuity sales!
Do not miss out on this incredible opportunity to serve your clients with guaranteed rates that will give them peace of mind.
Annuity sales are a huge opportunity for independent agents in the senior market. If you want to learn how to sell annuities to seniors, you've come to the right place!
Check out our complete guide here: The Ultimate Guide to Selling Annuities In the Senior Market
You can also read our Quarterly Annuity Update, where you’ll be able to see which annuities other agents are selling the most right now along with industry updates and announcements.