When it comes to sales, we live in a “what have you done for me lately” world. Now that the calendar has flipped to a new year, we forget about last year’s goals and turn our focus to 2018. Every time a new year rolls around, companies have goals to achieve in order to please owners or stockholders. They also have specific times of the calendar year when they look to make a large dent in those goals. For example, in the retail industry, they plan on having a strong end of the year with holiday shopping to make up a large portion of their goals. That is why there are so many sales around Christmas. Other industries like car dealerships usually have quarterly and year-end goals and you can score the best deals at these times.When we look at the annuity industry, most carriers like to get off to a fast start so they can gauge how aggressive or conservative to be the rest of the year in order to achieve their annual goals. If you think about the past handful of years, some carriers have started out the year with either an enhanced product offering or an interest rate special to kick off the New Year.
I am sure you have heard the phrase “a bird in the hand is worth two in the bush”. I interpret this phrase to mean that if you actually have the opportunity of getting something now, it is more valuable than taking a chance of getting it in the future. This is how I look at most Q1s when it comes to insurance companies. If you have access to a product that meets your client’s current goals and needs now, why wait for a better product that may not come to fruition?
With all this being said, there are no guarantees that the first quarter of 2018 will be the best time to offer an annuity. There are other outside factors that could come into play, such as the interest rate environment, regulatory environment, or even the stock market’s performance, just to name a few. There is only one factor that is a constant, which is that all clients and companies have goals to hit and everyone likes to get off to a good start instead of having to play catch-up throughout the year. So don’t get caught trying to play catch-up in 2018. Take advantage of the first quarter to get out ahead of your 2018 goals and make sure your clients are staying on track with theirs.
Ann Arbor Annuity Exchange has programs and the knowledge to help you achieve and exceed your goals. If you need any assistance, please give us a call at 800.321.3924.
Nick Bates | Vice President of Annuity Sales
Ann Arbor Annuity Exchange
Ph: 800.321.3924 x121 | Dir: 734.786.6121
nbates@annuity-exchange.com
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Fixed Annuities are designed to meet long-term needs for retirement income, and they provide guarantees against the loss of principal and credited interest, and offer the reassurance of a death benefit for your beneficiaries.
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Designed for Financial Professionals.
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