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Policy Matters

Second Quarter 2021


The #1 reason consumers switch companies is because they feel unappreciated, often a result of poor customer service. And, unfortunately, it happens in our industries too.

One well-known annuity producer announced in 2019 that it would stop offering and servicing annuities to consumers, including clients like yours. By the end of 2020, the company had transferred 100% of its annuity servicing to a different insurance company.

We’ve heard from advisors (who heard from their clients) about the new company’s “service;” and it’s apparently less than satisfactory. Here are two notes we’ve gotten:

  • My clients got their annuity years back. The transition to this new servicer has been “less than stunning when it comes to customer service (understatement).” They are expressing their frustration and are ready to switch providers if there is a comparable or better annuity offering they can exchange to.
  • My client is “hating the customer service with [the new company].” She has an IRA annuity, and we moved it to the original company because she was interested in the death benefit feature. ”What would you have to offer her that has a death benefit? She does not need any guaranteed income or other bells and whistles.”

We’re currently working with the advisors and their clients who have come to us with this concern. We’re helping them to find new annuity solutions that meet their needs with one of the reputable annuity providers we work with. And at LLIS, we take pride in our “no unnecessary bells and whistles” approach since our entire team, like fee-only financial advisors, is salaried. We work just as hard on large policies that have the bells and whistles clients want as we do on simple solutions.

The original company’s annuities were appealing because of their pricing and typically higher payouts. And the solutions were simple (which many think is an oxymoron when it comes to annuities). But there are many annuities out there that are comparable and, in some cases, even better.

If your clients have existing annuities with any company and are dissatisfied with their provider, ask yourself these questions:

  • Did your clients get their annuity with LLIS’s help? We can help.
  • Did your clients get their annuity from another source? We can help.

Our annuity subject matter expert is Jerry Skapyak. He knows the annuity world inside and out and is ready to help your clients – with transparency, objectivity, and the service your clients deserve – find the right annuity with the right company. Click to email him or call him at 877-254-4429.


Term Life Insurance | Low-Load Universal Life (Individual & Survivorship) | No Lapse Guaranteed Univeral Life (Individual & Survivorship) | Long Term Care Insurance | Disability Insurance | Critical Care Insurance | Low-Load Variable Annuity | Immediate and Fixed Annuities | Low-Load Variable Universal Life | Hybrid Life/LTCi | Hybrid Annuity/LTCi

(We recommend low-load permanent life insurance and annuities when possible)

(Not all policy types available in all states)

For a list of current providers, visit the Advisor Tools section of our website and click on "Insurance Companies We Work With".

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