Earning compensation is an important part of selling annuities, it is how we pay our bills and continue on with our journey.

Have you ever written a new annuity only to have it held up for 60-90 days and have to collect signatures, fight with conservation and wear yourself out? Just when you think it is ready to transfer, always something new comes up. Conservation by the broker or another agent gets old fast plus constantly calling the prospect always weakens the sale.

I can get paid in 7 days....Guaranteed. Want to learn how? A small technicality, this only works for IRAs, 401 (k), 403 (b) (tax sheltered annuities) and other qualified funds.

Since an annuity is a long term hold it would stand to reason that an IRA would be the logical place for an annuity so given that concept here it is...

Scenario:

Your client has funds in an IRA, doesn't make any difference where it is, bank, brokerage account, another annuity company.

· Open an IRA account with your annuity company under the name of the prospect and have a policy number issued (they will all do it). This is important later.

· Have your prospect surrender the IRA directly to them. The funds in an IRA can be in their possession for 60 days without any tax issues.

· Wherever you are surrendering the IRA from make sure to get the transfer forms from the custodian and have them prepared for your prospect. Easy to find on the internet or simply call the custodial and have them faxed or emailed to you.

· On the surrender forms mark it as an IRA rollover, no taxes will be withheld.

· Write a letter under your prospects name to the original custodial re-stating this is an IRA rollover and do not with hold taxes. Staple this to the surrender form and make copies.

· Tell your prospect to call immediately when the check arrives so that not a moment's interest will be lost. (they will call instantly)

· Have them deposit the IRA check into their account and write a new check to themselves in care of the new custodial (annuity company). Explain that it is important to create a paper trail for their IRA funds.

· Complete all the paperwork for the new policy and if the funds came from another insurance company, make certain you prepare the replacement form as required by your state department of insurance.

· Tell the client that you will write their new policy number on the check when you get to the office. (you had it issued by your company) On the back of the check have your clients write in the endorsement part, "For deposit only to the benefit of (insert their name), IRA". Write the policy number here also.

· Tell your prospect that you will mail them a copy of their check as soon as you get back to the office (with the numbers on both places). It's very important that you do this.

· You need to keep full copies and your client should also. Make a file for them and deliver it when you deliver the policy.

· You can surrender an existing IRA and reposition your prospect's funds into a new contract using this method in 7 to 9 business days.