By The Annuity Man
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The podcast currently has 334 episodes available.
In this episode, The Annuity Man discussed:
Why are Indexed Annuities sold in a misleading way?
Indexed Annuities are not growth products
What annuities are for
Key Takeaways:
Because Indexed Annuities are a high-commission product for agents, they are often promoted in a misleading manner, obscuring their true nature and limitations.
Indexed Annuities are not growth products, they are designed for principal protection, CD-type returns, and Income Riders. Indexed Annuities lack dividends, limiting their potential for growth.
When it comes to annuities, remember that you should only base your buying decision on contractual guarantees. Annuities solve for these specific goals: Principal protection, Income for life, Legacy, and Long-term care.
"The upfront bonus is candy for the stupid. Buying an Index Annuity for that upfront bonus is like buying a brand-new car for the stereo system. That should be irrelevant to your decision." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
The Annuity PILL
Choosing an annuity carrier
Putting the client’s best interest first
The future of the annuity industry
Key Takeaways:
The acronym PILL stands for Principal Protection, Income for life, Legacy, and Long-term care. If you don’t need to contractually solve for one or more of those items in the PILL, then you don’t need an annuity of any type. Never buy an annuity for market growth.
Once you’ve determined what you want the money to contractually do and when you want the guarantees to start, we’ll shop all carriers, listing all the top contractual guarantees offered. Annuities are commodity products.
Some carriers should not be recommended even if they offer the highest contractual guarantees. These carriers either do not or do not have the capability to put the client’s best interest first.
There are some processing issues, hiring issues, and workforce issues, but all will be solved. It’s going to be a bumpy ride, but the industry is on the way to fixing problems and improving systems.
"My grandfather always told me, ‘If you tell the truth, you don't have to remember anything.’ That is our business model." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
The Annuity PILL
The best inflation annuity
Annuities are a transfer of risk
Key Takeaways:
Annuities provide lifetime income, principal protection, legacy planning, and long-term care benefits. If you’re not solving for any of those, then you don’t need an annuity.
Social Security is the best inflation annuity and you can use it along with pensions to establish an income floor.
Annuities offer contractually guaranteed solutions by transferring risk to insurance companies.
"Remember that you own an annuity for what it will do, not what it might do." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
The purpose of Fixed Index Annuities
Buying only for contractual guarantees
Why some agents oversell Index Annuities
Understanding contractual guarantees
Key Takeaways:
Fixed Index Annuities are designed for principal protection and lifetime income, not market growth.
Buy annuities only for contractual guarantees not for upfront bonuses or agent projections.
Index Annuities are complex products often oversold by agents for high commissions.
Buyers should thoroughly understand contractual guarantees before purchasing Fixed Index Annuities.
"This is your money. Don't believe the hype, believe the contract and own an annuity for what it will do, not what it might do." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man and Steve Parrish discuss:
What are QLACs?
Transferring longevity risks
Creating a secure income floor in retirement
How annuities are priced
Key Takeaways:
QLACs (Qualified Longevity Annuity Contracts) are a pro-consumer annuity product that allows transferring longevity risk by using IRA assets for lifetime income guarantees via insurance companies.
Longevity risks require pooling mortality credits via longevity annuities from highly-rated carriers to ensure lifelong income.
QLACs provide a secure income floor in "chapter two" (retirement), avoiding RMDs (Required Minimum Distributions) and offering no fees. Annuities are better for longevity risk pooling and income than the flawed 4% withdrawal rule.
Annuities are primarily priced based on life expectancy, interest rates play a secondary role in that computation.
"Older you is not going to be the same as the younger you. Take my word for it. You want to have peace of mind. You're not going to want to have to call your broker every month when the economy is going crazy. You want to play with your grandkids, go golfing, whatever, and to know that you've locked in some income." — Steve Parrish
Connect with Steve Parrish:
Blog posts: https://www.forbes.com/sites/steveparrish/?sh=61590d633079
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
Focusing on contractual guarantees
What annuities solve for
Common annuity pitch traps
Key Takeaways:
Avoid non-guaranteed hypotheticals and focus on contractual guarantees when considering annuities.
Buy annuities for specific needs like principal protection, income, long-term care, or legacy, not for market returns.
Be wary of urgency sales pitches, steak dinner seminars, advisors behaving like friends, backdated performance illustrations, promised market participation with no downside, upfront bonuses, and showing other clients' accounts as proof of returns.
"Do not fall for market upside but no downside. Do not fall for market participation with principal protection. All those yummy sales pitches that look like they should go on a t-shirt. Do not fall for that. Do not fall for the upfront bonus." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
Transferring risk through annuities
The annuity PILL
Annuities are for guarantees and not growth
Key Takeaways:
Fixed Annuities provide lifetime income by transferring longevity risk to insurance companies. They offer over 40 different structures, such as life/joint life with cash/installment refund.
Buy annuities only if your goal is any of these: principal protection, lifetime income, legacy options, and long-term care coverage.
Annuities are contracts. They are bought for contractual guarantees and not hypothetical or theoretical market growth.
"With good information, you can make good decisions." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man and Jack Lenenberg discuss:
Annuities and long-term care
The three primary types of long-term care coverage
Tailored long-term care
Planning for the future
Key Takeaways:
Annuities provide principal protection, lifetime income, legacy planning, and long-term care coverage for uninsurable individuals. Long-term care insurance providers offer cash indemnity benefits without requiring receipts for paid caregivers.
The three primary types of long-term care coverage are traditional standalone long-term care insurance policies, asset-based life insurance policies, and asset-based long-term care annuities.
Asset-based long-term care provides customizable inflation-adjusted lifetime benefits, allowing clients to design plans tailored to their needs and budgets, with the option to recoup unused funds.
People need income, legacy, and long-term care planning regardless of interest rates or politics, and these products help eliminate stress by transferring risk. Therefore, initiation conversations with your family, update your documents, and work with a professional team.
"Regardless of insurance and products, when it comes to long term care planning, the most important thing for our clients is to have conversations with your family, with your loved ones, with your children." — Jack Lenenberg
Connect with Jack Lenenberg:
Website: https://longtermcareinsurancepartner.com/
LinkedIn: https://www.linkedin.com/in/jacklenenberg/
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
Annuity marketing gimmicks
The complexity of Indexed Annuities
What annuities are for
Key Takeaways:
Bonuses for annuities are marketing gimmicks and provide no real value. Contractual guarantees are the most important aspect of annuities.
Indexed annuities are complex products with components like caps, spreads, and participation rates that limit upside gains. These components can change annually, making the product difficult to understand.
Annuities are designed for risk transfer through contractual guarantees, not market growth. Traditional investment vehicles are better options for market growth.
"Annuities, regardless of the type are transfer of risk, contractual, guaranteed products. It's a contract between you and the life insurance company." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
In this episode, The Annuity Man discussed:
How to use Indexed Annuities efficiently
The two sides of an indexed annuity
Focusing on what annuities really do
Key Takeaways:
Indexed Annuities can be used as an efficient delivery system for Income Riders, which provides guaranteed lifetime income.
There are two sides to an Indexed Annuity: the accumulation value (hopes and dreams) and the income rider amount (guaranteed lifetime income).
Focus on contractual guarantees and avoid misleading information. Don’t attend seminars that offer unrealistic returns and instead, focus on what annuities will actually do.
"You should never buy any annuity type for what it might do. You will always own it for what it will do." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
The podcast currently has 334 episodes available.
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