Start Talking About the Tax Advantages of Annuities

While taxes are top of mind, use our sales idea below to help show clients the benefits a tax-deferred annuity can offer.

Rich Lane
Vice President of Sales and Marketing, Individual Annuities

3 Tips for Selling Annuities in 2020

By Rich Lane, Vice President of Sales and Marketing. Reprinted with permission from ThinkAdvisor.

Now that the new year has arrived, it is a great time to refresh your sales tactics and position annuities in a new light. Consider these three sales tips.

Show Clients the Benefits of Tax Deferral

Help clients increase their earning power by educating them on the benefits of a tax-deferred annuity. Share the benefits — and our helpful flyer — to show clients what they would have to earn in a taxable investment to match the earnings of a fixed annuity.

Last Year Ends on an Economic High Note

Given the strong year for markets overall, you may not remember that 2019 started with tremendous uncertainty. Also, for the first time in over 170 years, the United States closed an entire decade without experiencing a single recession.

Secure Act and Non-Spousal Inherited IRAs

We’ve stopped issuing non-spousal inherited IRAs temporarily while we review the Secure Act and its impact on administering and servicing these contracts. This includes transfers from other carriers.

2019 Tax Forms Are in the Mail

The IRS requires The Standard to file Form 1099-R by January 31 of the year after a taxable distribution. Your clients should receive their 1099-R forms, which report distributions from annuities, no later than the second week in February.

Happy New Year

As we start the new year, it’s only natural that we look back at 2019 and forward to 2020. We’re recapping the most-read Annuity Buzz articles of last year and how to preview future rates. Wishing you much success in 2020!

Rich Lane
Vice President of Sales and Marketing, Individual Annuities