Agents and reps, young or old, newbie or veteran all get it, eventually. But you need to get over it. What is it? Broker block. It's the condition where you decide (in your own mind) that current product offerings come with cap rates or participation rates ridiculously too low for you to ever recommend to your clients, prospects and suspects.
Get over it already; you may be missing the bigger picture here. A recent client survey by Wells Fargo clearly indicated that the populace we serve does not care as much about rates and caps as we may think. In fact, turns out they care very little; their largest concern is still safety and predictability. When asked where they would invest a free gift of $5,000, almost seven out of 10 would not consider the stock market as a secure place for their newfound money.
Further, almost half of them said they would still buy a CD (certificate of deposit) even though most one-year CDs pay less than 0.5 percent. Ergo, it's not yield that attracts your clients away from the product(s) you offer. Most point-to-point cap rates on equity index annuities will still be nearer 2 percent (or better) and as of September 1st, offer State Guaranty Fund backing of up to $250,000 (increased from the previous level of just $100,000). And it gets even better than that.
