How do carriers count liquid assets?

A home is ordinarily not liquid. Carriers vary on primary-residence net worth and liquid-net-worth definitions. Check each current form and rule.

1. 1.

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   Using Annuities Genius: how do American Equity and F&G define liquid assets and net worth for suitability? My client is 78. She owns her home, has $150,000 in CDs and $300,000 in an IRA. Tell me which of her assets count as liquid for each carrier. List each carrier's documents with their links, and say which have no link. Don't guess which document a definition comes from.

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2. 2.

   See how each carrier treats the home, CDs (bank deposits) and the IRA (retirement account).

   A carrier's rules may say nothing about an IRA (retirement account). If a rule is silent, ask the carrier.

3. 3.

   Ask for two sentences for your file. Fill in each [bracket] where a fact is missing. Then put them in your own words.

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   Draft a short file note from the facts I provide. Include age, income, spending, liquid assets, goal and intended use. Include time horizon, funding source and options compared. State my chosen option, why it fits and the carrier rules checked. Put [brackets] where a fact or reason is missing. Do not invent reasons. Leave out her name.

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   Before recommendation or sale, give the required producer disclosure form and follow the sale state's care and disclosure duties. Manage conflicts and document the recommendation and basis. Put the client's interest first and use every required form.