Boy, these ads are starting to pop up, aren't they? Free annuity report. As they say, be careful when it's free, right? You got to dig a little further than that. The annuity industry has earned its bad reputation and sales reputation.
I see these free annuity report ads that are popping up everywhere. One in specific I saw said, "Free annuity report. Get our annuity report, where we look at all the companies and show the blah, blah, blah." And it's just this ridiculously cheap stuff, and there's no worth information because annuities are commodity products. You shop all carriers for the highest contractual guarantee for your specific situation.
Every single person that goes to my site and books a call with me, I ask them two questions. What do you want the money to do, and when do you want those contractual guarantees to start? Then after that, I remind them that annuities solve four things, and the acronym I've come up with is PILL. P stands for principal protection. I stand for income for life. L stands for legacy. The other L stands for long-term care and confinement care. If you do not need to solve for one or more of those items in the PILL, you do not need an annuity.
But that's not what these free annuity reports are. They want you to go there and to believe that you can get market upside with no downside or market participation with principal protection. Sounds too good to be true because it is every single time. The product they're pushing 99% of the time is Fixed Index Annuities. We love Fixed Index Annuities. We use them as a delivery system for income rider guarantees for future income benefits. The Fixed Index Annuity accumulation story is a good one. It's a CD, MGYA type return, two to 4% historically. Index annuities were put on the planet in 1995 to compete with CD returns and typical CD rate environments. That's what they are, but they're not market products. They're not securities. They're life insurance products that are issued at the state level, and for an annuity agent to sell them, they have to have a state life insurance license and make a 70 on it on that test. That's the bar.
So I always say you could do a crash course, take an index annuity, or a life insurance exam crash course for your state. You can get a license and then hold a bad chicken dinner seminar a week and sell index annuities to retirees. Tell me, I mean, that's not good. There are bad people in the annuity industry. There are bad people in the car and computer industry. It is what it is, but it makes me mad because you have 10,000 baby boomers retiring every day, looking for guarantees, lifetime income, principal protection, and those things.
This is important, and you can't make a mistake. So these free annuity reports are trying to get you to sign up, which is when the bait and switch happens. Okay? The bait and switch happen, and they take that name and then sell it. They sell it to agents across the country. They sell it to marketing organizations that have agents that work underneath them. And then they distribute those leads, and you're just being, I hate to say this, prostituted a little bit through the industry, and they'll probably sell it three or four times. It's a great business model, but I would never do it.
Here at The Annuity Man we never, ever, ever, ever, ever share your information. Everything's confidential. Everything's encrypted. All of that information that you put in is never going to get sold. It's never going to be shared, period. Not when you get your free annuity report at other places, okay? They're going to sell that lead. They're going to sell your name. They're going to sell your email. They're going to sell your phone number, and guess what? You're in the loop, and it's called submission selling. They're going to pitch you, and they're going to chase you, and they're going to pound you into submission until you buy it or until you just say, "Please don't talk to me anymore," or you have to change your email address.
So when you get ready to click that free annuity report and go, "You know what, Martha? That'd be nice to see a free annuity report of all the information on annuities." Hold that finger from clicking because once you click it, you're in the system, and you're never going to get out because they're going to keep reselling that name, reselling that name, reselling that name. And by the way, the good question you just asked, "Well, how much are they selling it for, Stan The Annuity Man, America's annuity agent licensed in all 50 states?" $150 to $300 is the going rate for your name, email, and phone number to get in the loop of a bunch of index annuity salespeople, which is tragic because index annuities are a good product. Still, they are bastardizing the index annuity world.
Once again, index annuities were developed in 1995 for CD-type returns, and they are an efficient and cost-effective delivery system for income riders. But that doesn't mean everybody needs one. I got a call the other day; the guy got the free annuity report, let the guy come into his house and give him the pitch, and the person showed him one index annuity. I'm not sure the guy needed an index annuity, but that's what he was selling, and that's what he was pitching, and he showed him one. I was like, "Did he not show you other indexed annuities because there's a bunch of them out there?" He goes, "No, he just showed me the one, and he said, 'This is the best one."
If anyone, anyone says to you, "I looked at all of them, and we're only going to focus on this one annuity from this one carrier because this is the best one for you," get up and walk away, end the Zoom call, hang the phone up. Annuities are commodity products. They should be shopped with all carriers for the highest contractual guarantee for your specific situation. So if anyone's just pitched you one, to me, they either are lazy, stupid, or that's the only product they've learned about. And if they sell enough of it, they get to go on a trip with their boyfriend and/or girlfriend to Bora Bora or Italy. The insurance company pays all expenses because that's how the game works. In the securities industry, they stopped all incentive stuff. In the annuity industry, you can go on trips. You can sell it, period. I wish they'd get rid of that, but they haven't. It's an incentive, but that's why many people say, "Just buy this one. Just by this one product." That's nuts.
So free annuity report, do your homework but be careful where you sign up. I give you my vow, as Stan The Annuity Man, owner, and founder of theannuityman.com, that anything that you sign up for at our site, quotes, books, or schedule a call, that information will never be shared, sold, period. It's going to be encrypted. It's never going to go anywhere. I respect your privacy, and you must be careful out there. You don't need to give away your information for some free annuity report. If it sounds too good to be true, it is with annuities every time. And if it sounds too good to be true with a free annuity report, it is every time.
Never forget to live in reality, not the dream, with annuities and contractual guarantees! You can use our calculators, get all six of my books for free, and most importantly book a call with me so we can discuss what works best for your specific situation.