Annuity Processing: Not Just Paper Pushing
by Deanna Martin, Claims Analyst
Posted on 02-28-2013
I began my career at Sentinel in 2011; a month after the Personal Choice Annuity was launched. Annuity New Business is a tight-knit and dedicated team who eats, sleeps, and breathes our fixed rate annuity. Therefore, when I tell someone what I do for a living with great passion and excitement, and their eyes glaze over in preparation for boredom, I don’t understand. And when I tell our team about it they react as if the person said we had an ugly baby. There is nothing boring about financial planning and security. There is nothing dull about growing your savings tax-deferred or rolling funds over from an investment that no longer serves your needs into one that can. Well…Unless you find achieving your financial goals boring. I guess that would depend on how much you enjoy playing golf. See? Annuities aren’t boring at all.
The Personal Choice annuity is best for individuals who have funds that aren’t currently needed for living expenses, that they would like to invest tax-deferred for a guarantee period of 5, 7, or 10 years. It’s called a “guarantee period” for a reason, your principal is safe and the interest rate is guaranteed during that period.
In my role as a new business processor I spend much of my day reviewing applications and most of them say the client’s reason for purchasing the annuity is safety and the opportunity to grow their wealth tax-deferred. We all have to pay the taxman. But our clients enjoy putting it off for several years while they accumulate interest.
Annuities are purchased by many different people for many different reasons. Some of our clients are young and still in the meat of their working years and are interested in moving an IRA or 401k for a better interest rate. But on the other hand applications cross my desk daily completed by seniors whose agents have advised them to invest in a fixed annuity instead of variable accounts, providing them the opportunity to grow their savings whether their goal is a long and secure retirement or the inheritance of their loved ones.
I hope you can see why the Annuity New Business team is so excited about what we do. We don’t just push paper and enter numbers into computers. We get to do our small part to help people we’ll never meet achieve their financial goals.
For additional information on the Personal Choice Annuity, please visit us at www.sslco.com or call 800.247.1423.