Stan The Annuity Man |
October 3, 2013 |
Annuity Definition, Ask Stan The Annuity Man, Immediate Annuities, Member Posts, SPIA
Question: Why would anyone buy an immediate annuity? What’s the purpose of it? Isn’t it just getting your money back? from Taylor G. in Los Gatos, California Answer: Interesting questions Taylor, but very good ones. An immediate annuity is formally called a Single Premium Immediate Annuity, and also known as an income annuity. It is the original annuity product and was first introduced in Roman times. People buy immediate annuities because they are looking for a pension type income stream. They want to make sure...
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Stan The Annuity Man |
September 26, 2013 |
Annuity Basics, Ask Stan The Annuity Man, Fixed Annuities, Index Annuities, Member Posts, Variable Annuities
Question: Annuities seem to be the hot financial product with all of the advisors I have recently met with. They can’t be good for every single person, so who should not buy an annuity in your opinion? from Walt S. in Lincoln, Nebraska Answer: Great question for the annuity buying public Walt. Much appreciated for the opportunity to provide this much needed answer. First of all, it’s important to know what annuities actually are and what they should solve for within your portfolio. Annuities are...
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Stan The Annuity Man |
September 19, 2013 |
Annuity Basics, Annuity Definition, Ask Stan The Annuity Man, Fixed Annuities, Immediate Annuities, Member Posts, SPIA
Question: I have some serious health issues, and have heard about immediate annuities that have a higher payout if you are sick. I think that they are called “Rated” Single Premium Immediate Annuities. What is that? from Colin in Boise, Idaho Answer: Thanks for the question Colin, and I’m sorry to hear about your health issues. Your question is a good one, and most people in the annuity industry don’t even know this product exists. Some call this product a “Rated Single Premium Immediate Annuity”,...
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Stan The Annuity Man |
September 12, 2013 |
Annuity Taxes, Ask Stan The Annuity Man, Life Insurance, Member Posts, Miscellaneous Annuity Info
Question: Is an annuity considered life insurance? Do they work the same? from Ted in Miami, FL Answer: Most people don’t know this, Ted, but annuities are actually issued from life insurance companies….so in essence they are life insurance products. However, annuities and life insurance are vastly different when it comes to how they are taxed. As a side note, when it comes to anything involving taxes, you should always consult with a qualified CPA or tax lawyer. Annuity agents are not tax advisors, and...
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Stan The Annuity Man |
September 5, 2013 |
Ask Stan The Annuity Man, Member Posts
Question: My parents live in Florida, don’t have much money, and have only bought CDs from an investment standpoint. Now every month, it seems, they are calling me to explain an annuity the bank is trying to sell them. Why is their bank branch now pushing annuities so hard? from Fred in Sarasota, FL Answer: Great question, and this is happening nationwide, not just in Florida. This madness all started a few years ago when it became legal for banks to sell investments to their...
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Stan The Annuity Man |
August 29, 2013 |
Annuity Basics, Ask Stan The Annuity Man, Fixed Annuities, Longevity Annuities, Longevity Annuity, Member Posts
Question: I’ve met with a couple of agents and advisors and keep seeing some of the same companies. Do all advisors have access to every annuity out there? Roy from Charleston, South Carolina Answer: This is an important question Roy, because a lot of annuity salespeople call themselves “independent”….but they might only recommend just a few of their favorite companies. Let’s take a look at the 3 primary types of annuity sales people that you will run across, and each of their annuity inventory limitations....
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Stan The Annuity Man |
August 22, 2013 |
Ask Stan The Annuity Man, Deferred Annuities, Income Riders, Index Annuities, Member Posts, Variable Annuities
Question: Is there a way to buy an income rider without having to buy an annuity? from Steve in Houston, TX Answer: This is one of the most forward thinking and insightful questions I’ve ever received. You Steve, are a visionary my friend. Currently, there are a select few companies working on income riders that are “non-annuity”, with more coming in the near future in my opinion. People want guarantees and benefits that annuities provide, but in many cases, they don’t want to tie their...
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Stan The Annuity Man |
August 15, 2013 |
Ask Stan The Annuity Man, Deferred Annuities, Fixed Annuities, Immediate Annuities, Index Annuities, Member Posts, Variable Annuities
Question: Who regulates and oversee annuities? Is it at the state level or at the federal level? Bart from Santa Barbara, California Answer: Great question Bart, but as usual with annuities, the answer is a little complex. Annuities are regulated at the state level, and each state has a guarantee fund that backs up policies to a certain dollar amount. To find out the specific levels for your state, go to www.nolhga.com. There’s no uniformity in coverage, and every state has different dollar protection limitations. ...
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Stan The Annuity Man |
August 8, 2013 |
Annuity Taxes, Ask Stan The Annuity Man, Deferred Annuities, Immediate Annuities, Member Posts
Question: How are annuities taxed? from Darrell in Phoenix, AZ Answer: That’s a pretty broad question Darrell, but and extremely important one. Let me get right to the point when it comes to annuities and taxes. Always use a CPA or qualified tax professional for any type of tax questions that are related to annuities. Never take an agent’s word for it. I probably know more about annuities and taxes than most (heck, I’m Stan The Annuity Man!), but even I defer all questions to...
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