In this episode, The Annuity Man discussed:

• How do annuity agents get paid?
• Your two choices for lifetime income
• The downside to deferred income annuities and indexed annuities
• Explaining MYGA 2 SPIA to a nine-year-old

Key Takeaways:

• In every annuity type, commissions are built into the policy, hidden from the client, and paid from the reserves of the annuity company so that you don't see them in your statement.
• If you want lifetime income and want it in however many years, you have two products to choose from—either a deferred annuity or an income rider attached to an indexed annuity.
• The negative to deferred income annuity is that it's an irrevocable choice, and you don't have any trackable interest. Meanwhile, for indexed annuities, the negative is that there is a fee for that income rider that is taken out of the accumulation value for the life of the policy.
• You will first buy a fixed-rate annuity in the MYGA 2 SPIA income strategy. They'll pay you a guaranteed contractual interest rate every single year, which will compound for the duration you choose. After that, shop for the highest contractual guaranteed lifetime income stream at that time.

"Nobody's gonna talk to you about the MYGA to SPIA income strategies because the commissions are so low. Remember this; if the commissions are low, it's pretty good for you. " — Stan The Annuity Man.

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