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Charles Schwab agent Jon Manalli recently edged out the competition for a $2 million Symetra Advantage Income sale using the new Advance Access feature. He calls it “the key to overcoming the biggest client objection.” Find out how it can work for you, too.
Jon Manalli knows what his clients want — sometimes even before they do. He knows his clients are often reluctant to “tie-up” their liquid assets in an income annuity. He knows they value the ability to cover unforeseen expenses without incurring early withdrawal or surrender penalties.1 And now, he knows how to answer these objections with the new features and flexibility Symetra income annuities can offer.
Symetra Life Insurance Company has an Advance Access commutation endorsement to Advantage Income and Income Builder contracts. Now when an unexpected expense creeps up, after the contract has been in force for 36 months your clients can request up to 30 percent of the present value of their total future payments ($5,000 minimum, during their life expectancy) at no additional cost.2
“We understand your clients have concerns about locking up assets in an income annuity,” says Kim McSheridan, vice president of Income Annuities for Symetra Life Insurance Co. “Adding Advance Access creates the flexibility clients want to help manage unforeseen expenses.”
Manalli was recently competing to place a case where a husband and wife who were shopping for an immediate annuity to provide approximately $7,500 in monthly income. Manalli says the clients weren’t aware of the Advance Access feature until he began discussing the benefits of Symetra’s products.
“When my clients discovered they could access the money if they needed to, I think that was the crowning touch,” says Manalli. “The other company simply didn’t have a feature like that.”
In fact, Manalli says he’s never had a client ask for an advanced access feature, often because they’ve already spoken with other agents who have hammered-home the idea that income annuities are inflexible and once purchased, the funds are inaccessible.
“In the past, I’ve been as blunt as to say, ‘If there’s anything negative about purchasing an immediate annuity, it is that you have to give up access to those funds,’” says Manalli. “And now, I don’t have to say that. Now, it’s, ‘With most companies, purchasing an income annuity means giving up access to that money, but with Symetra’s Advance Access …’ and then I explain how the feature works.”
There is no underwriting required and your clients can request additional funds as often as every three years. Plus, there is no impact on your commissions or other production credits when a client exercises this option.
Manalli says Advance Access is a dynamic benefit that clients often don’t even think of as an option. His advice to other advisors: If your clients don’t bring up Advance Access, certainly you should.
“Advance Access has given us a very effective closing tool,” he says. “Use it as your springboard to close. It’s the key to overcoming the biggest client objection.”
If you’d like to talk with someone about what Symetra Life can do for your client, call one of our regional vice presidents or contact the Sales Center at invest@symetra.com or 1-800-706-0700.
Jon Manalli has been an agent for more than 20 years and is a Senior Annuity Wholesaler for Charles Schwab in Phoenix, Ariz. Manalli can be reached at (602) 355-7716.
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