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Apollo Global Management is setting the table to make a major move in the indexed and fixed annuity market.  Apollo owns Athene Annuities (an up and coming annuity company), recently purchased Presidential Life and now has purchased Aviva USA.  These moves should allow them expand on the limited number of states they currently offer annuity products in.

It looks like Apollo is setting the state to become more aggressive with product offerings and innovative products in the fixed annuity segment.  While the overall annuity market in the US has slowed down over recent quarters, the fixed indexed and fixed markets continue to grow.  A slew of companies have jumped on the band wagon and now offer fixed, indexed or Deferred Income annuities but they have not been able to meet the innovation or guarantees of the Guggenheim companies products.  (Security Benefit and Equitrust products)

Hopefully, Apollo will be introducing new products in order to provide some solid alternative to Security Benefit and Equitrust.   Time will tell.

Security Benefit has had the annuity with the highest income payout for the last two years.  Anyone looking for future income from a deferred annuity would be able to get the highest payout using the SIA product.

One of the drawbacks to this product has been that it is not available some states, Connecticut being one of them. This means that a person living in Connecticut could not have access to the product unless they signed all the documents while in a state that the product was approved in.  Security Benefit has now obtained approval for the SIA to be sold to residents of Connecticut. Read more

Long Term Care Deposit Products vs. Traditional Long Term Care

Traditional LTC

Long Term Care insurance provides needed Protection against the costs of home health care, Skilled Nursing care and institutional care. While there are a number of reasons to purchase a Long Term Care Policy, one of the most important is to protect hard earned assets. If some form of care is needed, the LTC policy will help to cover the additional expense associates with that care and alleviate the need to spend assets in order to cover the cost. Read more

When it comes to generating guaranteed income, Security Benefit has had the highest paying deferred income product on the market for two years with the Secure Income Annuity. The Secure Income annuity has simply provided the highest payout to clients looking for future income.

With the release of their new product called the “Total Value Annuity” they are taking a different approach. While the Secure income annuity provided the highest income payout, it did not offer any additional features that someone may be looking for. So how does the new “Total Value Annuity” stack up with the “Secure Income Annuity”? Here is a review Read more

We work with annuity clients every day and we see the same mistakes made over and over.  Here is a quick list of the more common mistakes made that you should avoid.

Buying an annuity based on the company’s name- This is the biggest mistake I see made the most often.  Buying an annuity simply because you know the company name is a sure fire way to ensure that you are buying a product that is not competitive.  Look at the payouts when buying an annuity instead of just trusting that a big name company is going to be offering you a good deal. Most often,  it is the big name companies that are relying on that big name and are not looking to be best in class. They know they name will bring in customers so there is no need to be making a great offer. Read more

What is the best annuity?  The answer is that there is not a best annuity for every situation.  The trick is to find out the best one for whatever you are trying to accomplish.

Companies compete bitterly with each other in the annuity market.   They are always trying to come up with an annuity product that will be the next big seller.  While they want market share, they are never willing to offer a product that is the best in every category.  Instead, they will pick one area within a product and try to be the best in that space. Read more

Careington offers a Dental and Vision discount program for a $6.95 monthly premium for individuals and $11.95 for couples and $15.95 for families.  There is no benefit limit on the plan and discounts on dental services range from 20% to 50% depending on the service.  The plan uses the Aetna PPO dental network which is one of the better dental networks available.  (To determine if a dentist participates, ask them if the participate in the Aetna PPO dental network)  There is also an online tool to check participation. (Once in- choose your state, and click on the “Learn More” button for the Aetna network plan.  There is a provider search button on the bottom right hand side)

Unlike some discount plans, the Careington plan has no paperwork for the member to submit.  The discount is automatically credited at the time of service. There is also a vision benefit which provides discounts on hardware.  To learn more about the plan, search providers and sign up you can CLICK HERE FOR THE CAREINGTON WEBSITE   **In order to apply for the plan, the site will ask for a broker code- The code is CROWE   (All capital letters)

Crowe & Associates is located at 155 Main Street, Suite 205 in Danbury, CT.  (Please note that our new address will be 304 Federal Road, Suit 107, Brookfield, CT 06804 -as of August 31, 2012)  The agency is filed with the BBB and currently has an A rating.   (All contact information listed below)

The agency is completely independent and as a result, maintains contracts with 100’s of insurance companies to offer the most competitive products at any given time.   We have representatives throughout Connecticut , NY and Mass.  We work with the following insurance programs and work with clients by phone, email, in person at our office or we will even make house calls.

• Medicare Advantage, Supplement and Part D plans– We use all carriers including AARP/United, Empire, Anthem Aetna, Connecticare, Humana and many more.  We help clients determine the best type of plan and company for them.
• Life Insurance- We work with all types of life insurance including term, permanent, Whole life, UL and burial insurance.  We work with all life companies and can guarantee the lowest rate available.  We use a quoting data base which is updated daily to ensure we show the client the lowest cost companies.
• Health insurance-We work with all individual health insurance companies including, Golden rule, Humana, Celtic, Aetna, Anthem, Assurant and Connecticare.
• Group Health Insurance-We work with all group health carriers doing business in CT,MA and NY.  We also have a strategy for small groups which allows us to lower a standard small group rate by up to 25% without reducing benefits.
• Long Term Care- We work with Genworth, TransAmerica, Mutual of Omaha, Med America and most other major carriers.  State partnership programs in NY and CT are very strong and we can explain to clients why it is vital to take advantage of the offer.
• Disability Insurance-We can provide group and individual Disability policies utilizing a number of companies.
• Retirement planning-We specialize in risk free investments and income producing investments which include annuities and CD’s.  Market linked CD’s and Income annuities are of great interest .  We work with clients to find the company that will provide the highest payouts.
• Dental and Vision-We offer individual dental and vision plans from a number of companies.  Our most popular plan is the Careington dental and vision discount plan  which is low cost and uses an Aetna dental network.

Crowe & Associates is located at 155 Main Street, Suite 205 in Danbury, CT.  (Please note that our new address will be 304 Federal Road, Suit 107, Brookfield, CT 06804 -as of August 31, 2012)  The agency is filed with the BBB and currently has an A rating.   (All contact information listed below)

The agency is completely independent and as a result, maintains contracts with 100’s of insurance companies to offer the most competitive products at any given time.   We have representatives throughout Connecticut , NY and Mass.  We work with the following insurance programs and work with clients by phone, email, in person at our office or we will even make house calls.

• Medicare Advantage, Supplement and Part D plans– We use all carriers including AARP/United, Empire, Anthem Aetna, Connecticare, Humana and many more.  We help clients determine the best type of plan and company for them.
• Life Insurance- We work with all types of life insurance including term, permanent, Whole life, UL and burial insurance.  We work with all life companies and can guarantee the lowest rate available.  We use a quoting data base which is updated daily to ensure we show the client the lowest cost companies.
• Health insurance-We work with all individual health insurance companies including, Golden rule, Humana, Celtic, Aetna, Anthem, Assurant and Connecticare.
• Group Health Insurance-We work with all group health carriers doing business in CT,MA and NY.  We also have a strategy for small groups which allows us to lower a standard small group rate by up to 25% without reducing benefits.
• Long Term Care- We work with Genworth, TransAmerica, Mutual of Omaha, Med America and most other major carriers.  State partnership programs in NY and CT are very strong and we can explain to clients why it is vital to take advantage of the offer.
• Disability Insurance-We can provide group and individual Disability policies utilizing a number of companies.
• Retirement planning-We specialize in risk free investments and income producing investments which include annuities and CD’s.  Market linked CD’s and Income annuities are of great interest .  We work with clients to find the company that will provide the highest payouts.
• Dental and Vision-We offer individual dental and vision plans from a number of companies.  Our most popular plan is the Careington dental and vision discount plan  which is low cost and uses an Aetna dental network.

Bank CD rates are averaging 1% to 1.8% on a 5 year fixed basis nationally. Rate offerings have not been this low in many decades. With the current inflation rate nearing 3%, a fixed CD at less than 2% will not even keep pace. Given this dynamic, it makes sense to look for alternatives.

Insurance companies offer interest rates for a fixed period of years similar to CD rates. Like a CD, once the fixed term expires, you are able to either roll over the account to another fixed period or take your money and go elsewhere with it. Historically, insurance companies have offered rates that are competitive with CD rates. Currently they are offering rates that are often 50% higher than the equivalent CD rate.

Insurance company offerings are not FDIC insured by they are backed by the Guarantee Association in each state. The amount covered by the Guarantee Association varies from $200,000 to $500,000 depending on the state the application is signed in. (For example: Connecticut is $500,000)

There are currently 2 insurance companies offering a 5 year fixed rate at 3.6%. Another is offering a rate of 3.15% and they offer it with a 100% return of premium feature that can be used at any time. Given the low nature of the rate environment, a return of premium feature may be useful. Both companies are A rated and owned by larger A rated parent companies.

The insurance company offerings provide a higher return on a fixed basis and should be considered as an alternative to CD’s due to their more competitive yields.