From 6–8 Weeks to 2–3: How One Carrier Rebuilt Its Annuity Sales Conversation
· FinMason
Tax deferral is one of the most compelling benefits an annuity offers. It's also one of the hardest to show a client in a way that sticks.
A top-10 global insurance and annuity provider, with $1.5 trillion in assets under management, knew this firsthand. Its advisors understood the theory of tax-deferred growth. What they lacked was a way to demonstrate it in a personalized, compelling way while sitting with a prospect.
The problem: illustrations that took hours
Before working with FinMason, each annuity illustration required two to three hours of spreadsheet work and manual calculations. Static illustrations built on general assumptions made explanations difficult, and clients often walked away confused about the actual benefits.
The results showed up in the numbers: low annuity sales, lost market share, poor closing rates, and a cumbersome process that chipped away at client confidence.
The solution: a live, white-labeled calculator
The carrier partnered with FinMason to build a Tax Deferred Calculator designed for real conversations. It delivered:
- Interactive, white-labeled illustrations that show tax-deferral benefits in real time
- Instant personalization based on a client's tax bracket, expected tax situation in retirement, investment amount, and time horizon
- Clear visual storytelling through interactive charts
- Mobile access on phones, tablets, or whatever device the client prefers
- Compliance confidence, with illustrations that include appropriate disclaimers
FinMason delivered the fully customized solution in eight weeks.
The results
- Conversions increased 38%, as clients finally understood the benefits
- The sales cycle dropped from 6–8 weeks to 2–3 weeks
- Time spent on manual calculations disappeared
- The presentation tools became a competitive advantage
The moment it clicked
The carrier's Head of Annuity Distribution shared one example. A young RIA was very skeptical about tax deferral. The team quickly modeled a case for him that showed how useful it could be. He came right around and committed $550,000 across two new contracts, adding roughly $1.1 million in incremental AUM.
That's the difference between telling a client about a benefit and showing it to them.
What other carriers can take from this
Static illustrations ask clients to trust a number. Live illustrations let them see how the number changes with their own inputs. For a product as nuanced as an annuity, that shift turns a long, complicated conversation into a short, confident one.
See it inside your platform
FinMason powers calculators for many top-10 insurance carriers, delivered via API or white-labeled iFrame. If you'd like to see how a tax-deferral calculator would look inside your platform, book a demo. You can also see how we work with annuity and insurance providers.