Your first annuity case from application to issue: what the paperwork actually looks like

The sale is the short part. Here's the sequence agents get surprised by.

1. Training and appointment. Carrier product training completed before you solicit, state annuity training where required, and the appointment approved. Check before the appointment, not after.
2. Suitability form. Income, net worth, liquid assets, existing annuities, time horizon, risk tolerance. The carrier reviews it. A case that puts most of a client's liquid money into a long surrender product will be questioned, and should be.
3. Source of funds. Cash, CD maturity, 1035 exchange from another annuity or life policy, or an IRA transfer or rollover. Each has its own forms and its own timing. Transfers can take weeks; tell the client that up front.
4. Replacement forms if any existing contract is being replaced, with state-specific requirements.
5. Rate lock. Many carriers lock the rate for a window after application. Know the window and what happens if the transfer misses it.
6. Delivery and free look. The contract is delivered, the client has a free-look period to cancel, and the commission may not be fully earned until it passes.

What tripped you up on your first one? Reply with the step, not the client.