I looked at the Oceanview product on Blueprint Income, and it made my head hurt too.Out of curiosity, I looked at the FIAs at blueprintincome.com
Are they any better? The Harborview FIA by Oceanview at least guaranteed the crediting and participation rates for the contract. It still made my head hurt a bit, compared to the simplicity of an MYGA.
In general, indexed annuities pay a higher agent commission than MYGAs. There’s a direct link between the agent commission rate and consumer value, because commissions are ultimately paid by the policyholder through application of the credited rate.
I have no information that tells me what commission Oceanview pays to Blueprint. Meanwhile, I know that Oceanview sells through the regular agent channel also.
Presuming that the commission rate that Blueprint earns on an indexed annuity is the same rate that a regular agent earns, I expect that the same “low consumer value” criticisms apply to the indexed annuities sold through Blueprint.
Statistics: Posted by Stinky — Wed Jun 26, 2024 7:17 am — Replies 35 — Views 3155