You would have to go through a licensed agent. That is a legal requirement. I'm unsure if they are brokered outside of NWM, or just by NWM staff (employees or contractors). I would be ok working with a licensed insurance agent who was an employee of NWM as long as the quote was competitive. I would not want to work with a financial advisor who wanted to sell a managed portfolio service to me.Is there a way to buy one without going through an insurance agent?
The insurance side of their business is well respected with a high credit rating. I would not hesitate to buy a SPIA from them if I were buying a SPIA, but I would not go through one of their financial advisors to do so.
MetLife and USAA have also sold SPIAs directly. Not sure if they still do. It would require having licensed agents on staff.
There are other good insurers for SPIAs in any case, such as NY Life or Guardian Life.
Statistics: Posted by Northern Flicker — Wed Oct 16, 2024 12:04 am — Replies 68 — Views 5586