October Is CD Replacement Month
Renewal … or replacement?
Thirty-four years ago this month, the U.S. experienced its worst day in Wall Street history: Black Monday. Thirteen years ago this month, the U.S. economy was in the throes of everything from bankruptcies to bailouts during the Great Recession. These and other instances of considerable market volatility result in investors scrambling for safety, which they have traditionally found in the guarantees and FDIC backing of certificates of deposit (CD).
Recently, the pandemic has resulted in similar ongoing uncertainty. However, clients are finding it difficult to swallow record-low interest rates in exchange for safe, stable growth. This makes a good argument in favor of replacement over renewal.
Two Annuity Alternatives
If you have clients renewing long-term CDs out of habit, help them discover more advantaged solutions.
MYGAs
Use our Introduction to MYGAs flier to highlight the differences between CDs and MYGAs, and why MYGAs could provide a more growth-focused approach.
FIAs
Use our Get Off the Sidelines flier to educate clients on the downside of a “wait-and-see” approach to repositioning a portion of their savings in fixed indexed annuities.
In these times of uncertainty, your clients’ assets and retirement savings need as much protection as possible. The top-of-mind awareness created by CD Replacement Month — in combination with these client-friendly, customizable resources — is a great opportunity for you to start the conversation!
FOR AGENT USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC.