Stan The Annuity Man |
July 25, 2013 |
Ask Stan The Annuity Man, Fixed Annuities, Index Annuities, Member Posts, Variable Annuities
Question: Should I consider an annuity for pure market growth? Can I get all of the upside with no downside like I hear on local radio ads? Mary from San Diego, CA. Answer: Mary, this is a home run when it comes to questions! A common myth that is promoted by too many annuity agents is that annuities are growth products. Let me say, unequivocally, that they are not! Annuities should never be considered for pure market growth. By the way, most agents will violently...
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Stan The Annuity Man |
July 18, 2013 |
Annuity Fees, Ask Stan The Annuity Man, Deferred Annuities, Fixed Annuities, Immediate Annuities, Index Annuities, Longevity Annuities, Member Posts, SPIA, Surrender Charges, Variable Annuities
Question: Can I buy annuities with no fees or surrender charges? Are there no load annuities like no load mutual funds? Ron in Roanoke, Virginia. Answer: Phenomenal question Ron! The annuity industry is very late to the party when it comes to “no load” type offerings that are common in the mutual fund industry. No load can mean a few things. It can refer to no fees for buying a strategy, no fees to keep the strategy, and no fees to sell the strategy. Let’s...
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Stan The Annuity Man |
July 11, 2013 |
Annuity Definition, Ask Stan The Annuity Man, Longevity Annuities, Member Posts
Question: What is a longevity annuity? Is this something new? – Ben from Dallas, Texas Answer: Thanks for the question Ben, and this is a product that I recommend a lot to my clients. The longevity annuity was actually introduced to the market about 7 years ago. It has also been called a “Deferred Income Annuity” and also a “Deferred Immediate Annuity.” Confused?….don’t be because its strategy is easy to understand, which is a primary reason for its growing popularity with consumers. First of all,...
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Stan The Annuity Man |
June 27, 2013 |
Ask Stan The Annuity Man, Member Posts, Miscellaneous Annuity Info
Question: I am seriously considering adding an annuity to my portfolio, but after a few lackluster meetings with local agents, is there a way for me to purchase annuities direct from the annuity company? I would like to own an annuity, but not use an agent if possible. Dwayne from Richmond, Virginia. Answer: I am one of those “dreaded” annuity agents, but I fully understand your question and am getting versions of this request on a weekly basis. I think people like you are getting...
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Stan The Annuity Man |
June 20, 2013 |
Annuity Basics, Ask Stan The Annuity Man, Member Posts
Question: I am considering investing some of my portfolio in an annuity. What is the #1 question that I need to ask myself, and answer, before purchasing? Charles G. from New York Answer: Your question is the “holy grail” of how to solve the annuity puzzle. Too many times people will call me about annuities and start telling me about an annuity they have been pitched by an agent. The few bullet points from the sales process that they hang on to is comical and...
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Stan The Annuity Man |
June 13, 2013 |
Annuity Basics, Ask Stan The Annuity Man, Member Posts
Question: I’m thinking about buying an annuity and want to know if I should base my decision on the potential market growth or the contractual guarantees? Don from Iowa. Answer: Fantastic question, and this is where I differentiate myself from most agents and advisors that recommend annuity solutions. Most sales pitches you are going to hear involve variable annuities or fixed index annuities, with the agent pushing the dream of phenomenal hypothetical or projected market returns. With variable annuities, the market growth dream is pitched...
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Stan The Annuity Man |
June 6, 2013 |
Ask Stan The Annuity Man, Member Posts, Miscellaneous Annuity Info
Question: It seems like annuities are all the rage. How long have annuities been around? Jimmy from Florida Answer: That is a good question with a very interesting answer Jimmy. Ironically, my weekly annuity column on WSJ/MarketWatch kind of addresses this issue. I encourage you to take a look. Most historians give the credit (or blame) to the Romans for introducing the world to annuities. Below are some key historical dates that you might find interesting, with the full chronological list shown in this week’s...
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Stan The Annuity Man |
May 30, 2013 |
Ask Stan The Annuity Man, Member Posts
Question: I own a variable annuity and recently received a letter from the insurance company offering me cash to buy back my contractual benefits. Why are they doing that? – Phil from Indiana. Answer: I bet you weren’t expecting that letter, huh Phil? This current “buy back bonanza” is primarily happening with variable annuity carriers, but don’t be surprised if fixed indexed annuity carriers start doing the same thing in the near future. Here’s the scary part, the reason that these insurance companies are trying...
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Stan The Annuity Man |
May 23, 2013 |
Ask Stan The Annuity Man, Member Posts
Question: I’ve been shopping for annuities online, and it seems that most sites are using worn out “bait and switch” type sales tactics. It’s very frustrating, and I’m wondering why is this allowed by the regulators? Tim from Colorado. Answer: Tim, I’m as frustrated as you with these sites and ads. These types of marketing and sales practices continue to feed into the negative stigma that the annuity industry has unfortunately earned. I’m sure from the public’s view it looks like a free for all...
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Stan The Annuity Man |
May 16, 2013 |
Annuity Commissions, Ask Stan The Annuity Man, Member Posts, Miscellaneous Annuity Info
The “Ask Stan The Annuity Man” educational series is provided by a nationally recognized annuity critic and annuity consumer advocate. Stan The Annuity Man has over 25 years of experience in the financial services industry, and is the author of the highly acclaimed book, The Annuity Stanifesto. Question: I’m talking to a lot of annuity agents, and can’t get a consistent answer on how they get paid. I know that they do, so how do annuity commissions work? Joe from Texas Answer: Good job for...
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