loader from loading.io

025: How To Shop For An Annuity To Get The Best Deal

“Fun with Annuities” The Annuity Man Podcast

Release Date: 01/31/2020

027: Social Security Annuity: Why Every US Citizen Already Owns an Annuity show art 027: Social Security Annuity: Why Every US Citizen Already Owns an Annuity

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Congratulations! You already own the best inflation annuity on the planet - Social Security! Shouldering or transferring your risk. One of the biggest mistakes that people make with annuities.  Buying annuities for what they will do, not what they might do.  Understanding what you are buying before you buy regardless of what your annuity agent says.      Key Takeaways:  Social Security is political dynamite that no party wants to touch - it’s going to be there and you’re transferring the risk to the government...

info_outline
026: What To Look Out For With Over-hyped Annuity Sales Pitches show art 026: What To Look Out For With Over-hyped Annuity Sales Pitches

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  The importance of contractual guarantees driving your buying decision Why you should never buy annuities for potential market type growth What to be aware of at the “bad chicken dinner annuity seminars” How to protect yourself by creating your own “statement of understanding”      Key Takeaways:  Indexed annuities were designed in 1995 to compete with CDs returns Upfront bonus offers are part of the overall contractual guarantee of the policy A high percentage income rider is not real yield There's no urgency to buy...

info_outline
025: How To Shop For An Annuity To Get The Best Deal show art 025: How To Shop For An Annuity To Get The Best Deal

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why he offers both personal service and do-it-yourself choices How all annuity types are commodities Why you should make your decision solely on the contractual guarantees Why he believes annuities should be bought, not sold      Key Takeaways:  Take your time and make the decision on your terms and your timeframe By law, you have to speak with a licensed agent at the end of the process to make sure that the recommendation is suitable and appropriate for your specific situation You should quote all carriers to find the...

info_outline
024: How Annuity Companies Make Money On Your Annuity show art 024: How Annuity Companies Make Money On Your Annuity

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  How annuity companies are more regulated than banks Where annuity companies are required to put your money The US 10 Year Treasury Note and the role is plays with annuities  The reason for surrender charges on deferred annuities    Key Takeaways:  Fixed annuity companies have 100% of your money available day one Life expectancy drives the pricing train with lifetime income guarantees All lifetime income payments are a combination of return of principal plus interest  Annuity companies are shouldering the risk you are...

info_outline
023: How The Secure Retirement Act & DC Affects Annuities show art 023: How The Secure Retirement Act & DC Affects Annuities

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why DC wants people to start planning for their retirement income How Qualified Longevity Annuity Contracts (QLACs) were the original idea The new “fiduciary safe harbor” provision, and what it means to you The original intent of Social Security payments in retirement   Key Takeaways:  If you have a Traditional IRA, you should consider a QLAC Company retirement plans will now start offering annuity income products The RMD (Required Minimum Distribution) age rose from 70 ½ to 72 The stretch IRA strategy is now only applicable...

info_outline
022: How Annuity Confinement Care Riders & Enhanced Benefit Payouts Work show art 022: How Annuity Confinement Care Riders & Enhanced Benefit Payouts Work

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why Long Term Care coverage is a concern for many people The two different types of enhanced benefit type coverage How each of these annuity strategies work The limitation and benefits of both     Key Takeaways:  The best coverage for Long Term Care is still traditional LTC  “When you get sicker you get your money back quicker” with annuity coverage When you qualify for coverage, you typically live an average of 3 years and a maximum of 7 years Fewer than 20 carriers currently offer these transfer of risk strategy...

info_outline
021: Potential vs. Contractual Annuity Returns show art 021: Potential vs. Contractual Annuity Returns

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why annuities should be purchased for their contractual guarantees Why annuities should never be purchased for market type growth How different annuity types are priced The different types of annuities, and what they contractually solve for   Key Takeaways:  There are no “one size fits all” annuity types If it sounds too good to be true, it is with annuities every single time   Most annuity types are purely contractual, with no potential in the contract Don’t buy the sales pitch dream, because you are going to own...

info_outline
020: What Do Annuities Contractually Solve For? show art 020: What Do Annuities Contractually Solve For?

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why the buying decision should be based solely on contractual guarantees Always take the P.I.L.L. to determine if you need an annuity How you only need to answer 2 questions to find the right annuity type What “Will Do. Not might do.” means when considering annuities   Key Takeaways:  Annuities are transfer of risk contracts...not investments Annuities should never be purchased for market type growth Annuity quotes are like a gallon of milk because they expire every 7 to 10 days Annuities (regardless of type) are commodity...

info_outline
019: The Safety & Suitability of Annuities show art 019: The Safety & Suitability of Annuities

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  The five safest places to put your money How fixed annuity types are safe transfer of risk strategies How to determine if a carrier is safe Ways in which the annuity industry protects the consumer    Key Takeaways:  Always solve for the desired contractual guarantee Look at the carrier’s ratings, COMDEX score, and financials Use the site to verify your state’s guarantee coverage limits Take advantage of the annuity “free look” provision if needed   "Annuity companies aren’t smarter than banks, they are just...

info_outline
018: How To Build Your Guaranteed Income Floor show art 018: How To Build Your Guaranteed Income Floor

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  How to build your Guaranteed Income Floor How annuities should be a part of your “income flooring” plan The various types of annuities to use with guaranteed income flooring How Social Security & Pensions payments are annuity structures   Key Takeaways:  Annuities are the only product that can provide a lifetime income stream  Use annuities to contractually solve for the income gap needed Annuity quotes are commodities, and expire every 7 to 10 days Always shop all carriers for the highest contractual guarantee...

info_outline
 
More Episodes

In this episode, The Annuity Man discusses: 

  • Why he offers both personal service and do-it-yourself choices
  • How all annuity types are commodities
  • Why you should make your decision solely on the contractual guarantees
  • Why he believes annuities should be bought, not sold   

 

Key Takeaways: 

  • Take your time and make the decision on your terms and your timeframe
  • By law, you have to speak with a licensed agent at the end of the process to make sure that the recommendation is suitable and appropriate for your specific situation
  • You should quote all carriers to find the highest contractual guarantee
  • Create your own “statement of understanding” for the agent to sign

 

 

"Buying annuities is like buying a plane ticket. You punch in your specific numbers in order to find the best price." —  The Annuity Man 

  

Connect with The Annuity Man: 

Website: TheAnnuityMan.com 

Email: Stan@TheAnnuityMan.com 

YouTube: Stan The Annuity Man