011: Decoding Annuity Sales Pitches & Misleading Advertising

0:04
welcome to

0:05
fun with annuities with your host me

0:07
stan

0:08
the annuity man america's annuity agent

0:11
can annuities be fun

0:12
can contractual guarantees be fun

0:14
absolutely they can find out the brutal

0:17
facts about annuities

0:19
with no sales pitches or high pressure

0:21
nonsense

0:22
just the brutal and factual annuity

0:25
truth which is all you need to hear

0:27
let's have some fun with annuities and

0:29
let's have that fun start

0:31
right now

0:37
hey this is stan the annuity man and

0:39
welcome to fun

0:40
with annuities today's topic is

0:44
a very important one decoding annuity

0:46
sales pitches and misleading

0:48
advertising and in the world of

0:51
annuities unfortunately there's a lot of

0:53
misleading information out there there's

0:55
a lot of really over hyped

0:57
too good to be true nonsense that's

1:01
that's going on either on on radio or tv

1:04
or the bad chicken dinner seminar

1:05
circuit

1:06
and as i always tell people there's no

1:09
good answers

1:10
to annuities just bad sales pitches

1:12
there's no perfect answers

1:14
just bad sales pitches there's

1:17
limitations and benefits to every single

1:19
type

1:20
of annuity out there so you have to know

1:23
that

1:23
going forward my opinion is you should

1:25
get all my books read them because we

1:27
have written on everything good and bad

1:31
i have owners manuals on most product

1:33
types out there

1:34
so you need to know the information you

1:36
need to know the good and bad do not

1:37
make a decision

1:38
based upon somebody's sales pitch do not

1:40
make a decision

1:42
based upon some agent or advisor

1:45
showing you one company one carrier

1:49
annuities are like commodity products

1:51
buying an annuity regardless of type

1:54
should be like buying a plane ticket you

1:56
punch in the information exactly what

1:58
you want to do

2:00
and then from there you look at all

2:02
carriers

2:03
have your agent advisor hopefully us

2:05
provides you all carriers which we do

2:08
and then base your decision on the

2:09
contractual guarantees in other words

2:11
own an annuity for what it will do not

2:12
what it might do

2:14
an annuity the will do is the

2:16
contractual guarantees and the might do

2:19
are these hypothetical theoretical

2:21
projected pitches out there and that's

2:24
what is proliferating the airwaves

2:27
and most of the especially the indexed

2:31
annuity

2:32
section of the business and which is

2:34
unfortunate because i think

2:36
that product if explained properly and

2:38
you understand it for

2:39
the the true limitations and benefits

2:42
what it was designed

2:43
to do in 1995 and introduced to do in

2:46
1995

2:47
and what it's done since 1995 is to

2:50
compete with cd returns that's exactly

2:52
what that product was

2:53
was designed to do that's exactly what

2:55
that product does

2:57
which is fine but that's not how it's

2:59
sold

3:00
you know it's sold as market upside with

3:03
no downside

3:04
market participation with no downside as

3:07
i always say to people

3:08
if it sounds too good to be true with

3:11
annuities

3:12
without exception it is every single

3:14
time

3:15
so if you and your wife are sitting at a

3:17
bad chicken dinner seminar and the

3:19
person is showing you this

3:21
stair-step ladder of growth that just

3:23
seems phenomenal and there's

3:25
full downside protection i'm hoping

3:28
you're smart enough to know

3:30
that that's too good to be true and what

3:33
they're showing you

3:34
are back tested return numbers which

3:37
is like saying if you did 100 sit-ups

3:40
for the last 10 years you'd have

3:42
six-pack abs

3:43
well great that's that's great perfect

3:45
but it means nothing

3:46
right now in fact i'm trying to

3:50
get i hate le i hate lobbying for

3:53
legislation like this but

3:55
i really believe that there should not

3:58
be any back-tested numbers shown

4:01
period i think it's misleading i think

4:03
people are making decisions based on

4:06
not fraudulent information but

4:08
misleading information

4:10
and they should be basing their

4:11
decisions solely on the contractual

4:12
guarantees

4:14
of a policy so let's kind of go

4:17
over a couple of points i've jotted some

4:20
things down that i think is very

4:21
important

4:22
number one most annuity types

4:25
don't have any wiggle room of potential

4:27
or hypothetical or theoretical or

4:29
back-tested guarantee

4:30
scenarios you're talking about

4:32
multi-year guarantee annuities migas

4:34
which are fixed rate annuities

4:36
or single premium immediate annuities

4:38
which are speas

4:40
deferred income annuities dias which are

4:43
like immediate annuities but you can

4:45
defer them longer and then there's culax

4:46
qualified longevity annuity contracts

4:49
that are you know deferred income

4:52
annuities but used in your ira

4:53
and we've gone over all of those go back

4:55
and listen to the podcast that

4:56
on the specific product types for the

4:58
details

5:00
but with those those really can't be

5:02
overhyped

5:04
i mean they're they're contractual

5:06
there's no there's no market attachments

5:09
there's no hypothetical theoreticals

5:12
there's nothing

5:13
it is what it is and when you quote them

5:15
you quote all carriers

5:16
and you look for the highest contractual

5:18
guarantees and then choose

5:20
the carrier that you feel most

5:21
comfortable with from a claim spain

5:22
ability standpoint but

5:24
the only one that i would say might be

5:27
pushed a little differently is there's

5:29
there's one carrier that or a couple

5:31
carriers that have

5:31
deferred income annuities that have a

5:34
dividend

5:35
inside of them that could possibly

5:38
increase the income

5:39
understand that any time an annuity

5:42
company

5:42
is giving a benefit to you or providing

5:46
an extra benefit to you whether that's

5:48
increasing income or

5:50
whatever it is they're not giving that

5:52
away

5:53
there's no philanthropist at annuity

5:54
companies there's not anyone waking up

5:56
in the morning saying you know what i

5:57
want to give things away to the public

5:59
no

6:00
they're going to provide it as part of

6:01
the overall contractual guarantee

6:03
but there's only 100 pennies in the

6:05
dollar and they're going to price it in

6:07
so you know even with any type of

6:09
increases to it you know

6:11
to the income stream all the annuity

6:13
companies are going to do is

6:14
lower the initial payment to make up for

6:16
that so if you

6:18
if you want those type of increases

6:19
obviously you need to quote

6:21
both you know with an increase and

6:24
without an increase

6:25
same quote just to see how the annuity

6:28
companies price it and you'll see that

6:29
they do not give that away

6:31
so there's not a lot of misleading

6:34
advertising and bad sales pitches on

6:36
on mygas and spias and diaz and q lakhs

6:39
multi-year guarantee annuities single

6:40
premium immediate annuities deferred

6:42
income annuities and culax why

6:44
because they're very simplistic very

6:46
easy to understand very pro-customer

6:49
straightforward contractually guaranteed

6:51
products period

6:52
so there's there's just no way to over

6:55
hype that and that's a good thing that's

6:57
one of the reasons i really like those

6:59
products

7:00
it is what it is you're getting what

7:02
you're getting that the number is what

7:04
it is

7:05
it's the ultimate will do which is

7:07
contractual guarantees

7:09
most of the the sales pitches and the

7:12
misleading

7:14
sales pitches and advertising on radio

7:16
and tv

7:17
revolve around unfortunately indexed

7:20
annuities

7:20
their fixed index annuities back in the

7:23
day

7:23
they were originally called equity

7:25
indexed annuities and the reason that

7:26
name changes they are not a security a

7:30
fixed

7:30
index indexed but index annuity

7:34
is a life insurance product you need a

7:36
life insurance license to sell them you

7:38
don't need a

7:39
securities license you need to pass a

7:40
life insurance lice test and

7:42
i think score 70 or whatever low mount

7:44
low bar to get it

7:46
i'm not sure i agree with that either

7:48
but that's the current environment that

7:49
we're in

7:50
but most of the misleading stuff the bad

7:53
stuff the one size fits all

7:55
stuff the square peg fitting into the

7:57
round hole stuff

7:59
and recommendations revolve around index

8:02
annuities and i really wish the industry

8:03
could clean that up it's tough though

8:06
i don't blame the carriers because

8:09
fixed index annuities are regulated at

8:11
the state level then each state

8:13
regulates the advertising

8:15
so what do some of the people that

8:19
really overhype and missily do they run

8:20
national ads and so what are you going

8:22
to do with the internet what are you

8:24
going to do with the national tv ad or

8:25
national radio ad who oversees that

8:28
it's really hard i'm not saying that's

8:30
the strategy those people are using

8:32
i'm sure they're nice people and their

8:34
wife makes a really nice apple pie

8:36
but i do not like how they're pitching

8:40
indexed annuities because you know

8:43
they're doing it either on the tv ads

8:45
that

8:45
somehow never even mention the word

8:48
annuity they just talk about

8:49
you've worked hard for your money and

8:51
you still need market growth but you

8:52
want to protect your principal and all

8:54
those

8:54
bell rings yeah yeah that sounds great

8:57
and then they'll throw in things like an

8:58
upfront bonus free money

9:00
understand once again there's no

9:02
philanthropist at annuity companies so

9:04
no one's waking up in the morning and

9:05
saying

9:05
you know what i want to give away free

9:07
money upfront bonuses

9:09
monopoly money that is applied to your

9:11
account typically on the income benefit

9:13
side

9:14
i mean it's just part of the overall

9:15
contractual guarantee so if you said

9:17
hey stan i'd love for you to quote

9:20
indexed annuities or indexed annuities

9:22
with attached income riders

9:24
we're going to quote every single one of

9:26
them out there with and without the

9:27
bonus

9:28
you know if they provide a bonus great

9:29
if they don't that's fine but it's part

9:31
of the overall contractual guarantee

9:32
and then we're going to show you the

9:33
highest contractual guarantee now

9:36
ironically a lot of the times the

9:39
offerings with the upfront bonuses do

9:42
not provide the highest contractual

9:43
guarantee

9:44
it's kind of funny you know it's it's

9:46
it's what i call a shiny thing

9:48
it's it's carriers and agents showing

9:50
shiny things to people

9:52
and people love shiny things people love

9:54
things that

9:55
sound too good to be true everyone's

9:57
looking for that perfect product

9:59
and unfortunately in the index annuity

10:01
world they're pitching it as such it can

10:03
do everything

10:04
it can it can be used for long-term care

10:07
that's not right

10:08
okay it can be used for immediate income

10:11
that in my opinion is not right because

10:13
i do not think it's competitive

10:15
with a single premium immediate annuity

10:17
and i've had that argument with the

10:18
industry i just do not agree with that

10:21
so whatever you know i always tell

10:23
people there's only two questions

10:25
to ask when buying an annuity to find

10:27
out what type of annuity you need

10:29
number one what do you want the money to

10:30
contractually do number two

10:32
when do you want those contractual

10:34
guarantees to start from those two

10:36
answers i can tell you what type of

10:38
annuity fits again number one what do

10:40
you want the money to contractually

10:42
underline that word do and number two

10:44
when do you want those contractual

10:46
underlying contractual guarantees to

10:48
start

10:50
and really in my world and i think the

10:52
industry's world should be

10:53
what do annuity solve for and the

10:55
acronym is pill

10:57
p stands for principal protection i

10:59
stands for income for life

11:01
l stands for legacy and the other l

11:02
stands for long-term care so principal

11:04
protection income for life legacy and

11:06
long-term care

11:07
if you really don't need to solve for

11:09
one or more of those

11:11
items in the pill then you really don't

11:14
need

11:15
an annuity ironically and i think this

11:18
is part of the industry's problem as a

11:19
whole

11:20
annuities were put on the planet back in

11:22
the roman times to provide lifetime

11:23
income and most of the solutions that

11:25
are out there

11:26
are for lifetime income meaning i don't

11:29
know the roi until you die up until then

11:31
it's a transfer risk it's the only

11:33
product category that provides lifetime

11:34
income

11:36
now that's a unique benefit proposition

11:38
that only annuities

11:40
can say that they have because it's

11:42
contractual

11:43
for some unknown reason the industry

11:45
never ever promotes that

11:47
they're always pushing market type

11:50
return or potential upside returns with

11:53
either

11:54
you know a variable annuity or a fixed

11:56
indexed annuity

11:57
and maybe it's because those those

11:59
products do provide

12:00
they are the most profitable for the

12:03
carriers and they

12:04
do provide the highest commission for

12:06
the agents and i'm not saying that's the

12:08
reason

12:08
you know that they're pitched it might

12:10
be but

12:12
people do buy things based upon fear and

12:14
greed

12:15
right you know fear losing money in the

12:17
greed of of making a good return so fear

12:19
and greed

12:21
kind of fits in the wheelhouse of

12:24
variable and index annuities because you

12:27
can have

12:28
potential upside maybe you know we'll

12:30
talk about that

12:32
with an attached guarantee say an income

12:34
rider

12:35
and it really sounds too good to be true

12:37
because it is

12:38
in my opinion if you want true market

12:41
growth if you really want to get

12:43
real market returns then my opinion

12:46
stand annuity man number one agent out

12:48
here licensed in all 50 states

12:50
my opinion is you should never buy an

12:52
annuity for that because

12:54
regardless of the variable annuity or

12:56
the index annuity fixed index annuity

12:59
you are

12:59
limited with either your choices

13:02
or the upside so

13:06
in my opinion if you're going to do

13:07
market type returns you should not be

13:09
limited

13:10
with the upside it should be hey if you

13:12
make the right choices on the stock or

13:14
you make the right choices on a mutual

13:15
fund

13:16
you shouldn't be limited or you should

13:19
like in a variable annuity standpoint

13:21
whether it's a no load or a loaded

13:23
loaded fee type

13:24
variable annuity typically there's

13:26
mutual funds inside which they call

13:28
separate accounts but they're they're

13:29
mutual funds

13:31
you're limited on the choices that you

13:33
have

13:34
within that specific variable annuity

13:37
structure

13:38
and so once again you're limited on the

13:39
upside now

13:41
are there some no load variable

13:42
annuities that offer a lot of choices

13:45
yeah there are but still you're limited

13:47
there there is a number that you're

13:48
limited to once again going back to my

13:50
premise

13:52
and i guess my background working for

13:54
dean wetter morgan stanley payne webber

13:56
ubs where i

13:57
really understand markets and i've seen

13:59
real growth

14:01
that's the reason that i just i just you

14:04
know

14:04
people shouldn't be buying annuities for

14:07
market growth even though that's kind of

14:09
where they're

14:10
where they're pushed so we've talked

14:11
about upfront bonuses that's monopoly

14:13
money

14:14
it's part of the overall contractual

14:15
guarantees of the policy

14:17
you shouldn't place any type of weight

14:19
on it it's not free money

14:20
and if you don't believe it and you own

14:22
one with a bonus call the carrier up and

14:24
try to get that bonus back lump sum good

14:26
luck to you it's not going to happen

14:28
so that doesn't mean they're bad it just

14:30
means they're part of the contractual

14:32
guarantee

14:33
the other kind of thing that's being

14:34
pitched out there especially on the

14:35
indexed

14:36
annuity fixed index annuity side is you

14:38
can get this rider and you can get free

14:40
long-term care

14:42
without any type of test or medical test

14:45
and boy that sounds great on the surface

14:46
but if it sounds too good to be true it

14:48
is

14:49
it's not long-term care long-term care

14:50
is a health insurance product

14:52
and traditional long-term care is still

14:54
the best product out there and there are

14:56
some health

14:57
products out there that are called

14:58
long-term care annuities but they

15:00
specifically solve for

15:01
long-term care what you're hearing on

15:05
the on the

15:06
sales pitch circuit with fixed index

15:08
annuities for long-term care it's really

15:09
not long-term care at all it's called

15:11
confinement care

15:13
and that's okay in a perfect world these

15:15
types of confinement care coverage

15:17
should be used

15:19
as secondary coverage never to be used

15:21
as primary coverage

15:23
but with that being said if you're

15:24
drinking a bottle of jack daniels a day

15:25
and

15:26
smoking 12 packs of lucky strikes with

15:28
no filter and you can't

15:30
qualify for long-term care then this may

15:32
be your only option but it's nothing

15:34
more than getting your money back

15:36
quicker when you get sicker

15:38
remember that any income coming from any

15:40
type of annuity is a return of principal

15:42
plus interest so with these confinement

15:46
care writers attached to

15:47
income writers and the agent or advisor

15:50
standing up at the bad chicken dinner

15:52
seminar saying

15:53
yeah and if you can't do two the six

15:54
daily functions of life that qualifies

15:56
you for long-term care confinement care

15:58
then you're gonna get double the income

16:01
well that sounds great

16:02
but just put in the back your head when

16:04
i get sicker i get the money back

16:05
quicker when i get sicker i get my money

16:08
back quicker it's your money you're

16:09
getting back quicker

16:11
and typically these confinement care

16:13
doublers or enhancement payouts or

16:15
whatever they want to call them however

16:16
they want to phrase it and package it

16:18
it typically is for a five year time

16:20
period

16:21
and then it goes back to the original

16:23
income amount based on your life

16:25
expectancy why five

16:26
you say mr stan the annuity man it's

16:28
because when you can't do two of the six

16:30
daily functions of life which is

16:32
feed yourself clothe yourself bathe

16:34
yourself whatever first of all life

16:35
stinks

16:36
second of all you're gonna live an

16:37
average of three years and a maximum of

16:39
seven

16:39
depending on what study you look at so

16:42
they're gonna they're gonna ramp up and

16:43
give your money back quicker because

16:45
you're sicker during that five year

16:46
time period which again it's not a bad

16:49
thing should be used to secondary

16:50
coverage but should be fully explained

16:52
and you should never

16:53
ever ever ever cash in your true

16:56
long-term care coverage

16:57
for these types of doublers the other

17:00
thing that's that's pushed out there is

17:02
get a lot of calls hey stan i own an

17:04
eight percent annuity hey stan i own a

17:05
seven percent annuity no you don't

17:07
you own an income rider that is is

17:09
growing by that percentage

17:11
that you can't access you can't peel off

17:13
the interest you can't access lump sum

17:15
and that is only being used to calculate

17:18
your first income payment when you

17:20
decide to turn on the income stream from

17:21
that income rider

17:23
and also that eight percent it's growing

17:25
by is increasing the annual fee that you

17:27
pay for life by eight percent

17:29
as long as you defer so it's not free

17:31
money in a world with a

17:33
low low 10-year treasury note or where

17:35
wherever it is at the time of this

17:37
podcast or when you listen to this

17:39
podcast there's not some actuary at an

17:41
insurance company that's figured out how

17:43
to give you

17:44
six seven eight nine percent or whatever

17:45
the income rider amount is

17:48
when the ten-year treasury is very low

17:49
or rates are low it is nothing more than

17:52
an

17:52
income amount and that's fine if you are

17:55
looking for

17:56
income later if you're trying to solve

17:58
for income

17:59
at a future date that's fine but you

18:02
have to understand

18:03
how these income riders work and it's

18:05
not an eight percent return do not

18:07
believe

18:07
you're getting something that someone

18:10
else is not getting

18:11
or that agent is providing you something

18:13
that that just

18:14
sounds too good to be true he or she is

18:17
providing you

18:18
a percentage that's growing every year

18:20
during the time you're deferring

18:23
while you're waiting to start the income

18:25
but it's increasing the fees

18:26
by that percentage every year and when

18:28
you when you lock in and take

18:30
the income stream those fees lock in for

18:33
the life of the policy

18:35
taken out of that accumulation value so

18:38
you know once again you know don't buy

18:40
the dream own the contractual reality

18:42
right an annuity for what it will do not

18:44
what it might do so let's talk a little

18:45
bit more about index annuities

18:46
and understand i'm not i'm not down on

18:48
them okay

18:50
i don't hate index annuities i just

18:52
don't like how they're currently being

18:54
sold by

18:55
too many agents not all but too many

18:57
agents

18:58
one of the things i don't like right now

18:59
is that they're creating

19:01
index names and indexes indices out of

19:04
midair based upon algorithms they're

19:06
running

19:06
so in essence the carrier will run

19:09
back-tested scenarios looking for a

19:11
specific return

19:12
over a specific period of time once they

19:14
find that basket

19:16
they'll package it create a name for it

19:18
and then you'll go to a bad chicken

19:19
dinner seminar and the person will say

19:21
if you owned this 10 years ago you would

19:23
have received x amount return

19:25
yeah but it didn't exist until three

19:27
days ago so there's a lot of

19:29
there's a couple states that are

19:30
actually trying to ban this meaning that

19:32
they want

19:33
the index to be in place in in the

19:37
country that you can buy

19:38
for at least 10 years before you can add

19:40
it to an indexed annuity

19:42
as an indicy of choice currently there's

19:45
over 700

19:46
index option choices caps and spreads

19:48
and all that stuff

19:50
700 and there's i think there's over 50

19:52
indices

19:53
out there there's not 50 indices i mean

19:55
typically

19:56
when the industry first started with

19:58
index annuities it was the s p 500 and

20:00
and still a lot of these companies use

20:01
the s p 500

20:03
but it's the s p 500 without dividends

20:05
and dividends represent over 50 percent

20:07
of the return

20:08
so it's the s p 500 without dividends

20:11
and you get to lock in the guarantee or

20:13
that you get to lock in the

20:14
gain if there are any gains on the

20:17
contract anniversary date with most

20:20
indexed annuities there are some that

20:21
are a little bit more funkier out there

20:23
but at the end of the day most of them

20:25
you lock them in on the contract

20:26
anniversary date the other 364 days you

20:28
you can't do a thing and then once the

20:31
the good news is once that

20:33
game supposed gain is locked in is

20:34
locked in permanently

20:36
but it could be zero and a lot of times

20:38
it is zero

20:39
and they do limit the the upside

20:43
they the annuity company a lot of times

20:45
the annuity agents will

20:46
use the word hybrid to say this isn't

20:49
they won't say index new they say hybrid

20:51
annuity

20:52
hybrid's a car hybrid's a plant hybrid's

20:53
a mattress hybrid is not an annuity

20:55
it's a fixed index annuity there's no

20:58
market upside with no downside

21:00
you know if the industry is going to

21:01
allow agents to say that then it needs

21:03
to be

21:03
regulated as a security anytime you say

21:05
the word market stock market whatever

21:08
then you should be licensed to say that

21:11
so you can't in my opinion you shouldn't

21:13
be able to say market returns or

21:15
or share in the market upside or market

21:17
upside with no downside you can't say

21:19
that

21:19
and anytime someone

21:22
is saying that you know the index

21:25
increases will increase the income

21:27
the carriers are lowering the income

21:28
they're lowering that initial income if

21:30
you have that potential increase

21:32
so you know in closing just put on your

21:36
rational hat when you're out there

21:38
there's a lot there's ten thousand baby

21:39
boomers retiring every single day

21:41
there's a lot of people out there that

21:43
are looking for guarantees but there are

21:44
also a lot of people out there

21:46
that are looking for the perfect product

21:48
they still want market returns

21:50
they don't want to lose a penny and the

21:53
fixed index annuity pitch or

21:55
variable annuity pitch kind of sounds

21:57
perfect

21:58
right nothing's perfect you got to

22:01
understand that now

22:02
are there occasional years that an

22:04
indexed annuity or variable annuity has

22:06
really good returns of course

22:08
absolutely but remember what they were

22:10
specifically index annuities were

22:12
designed to do

22:13
which is compete with cd returns that's

22:15
what they were designed

22:17
to do and historically that's what they

22:19
do

22:20
and that's okay if you understand

22:23
that's the design and that's that's the

22:25
realistic return expectations

22:27
but if you're going into an indexed

22:28
annuity purchase under the assumption

22:30
you're going to seven eight nine percent

22:32
every year

22:33
that's just not going to happen you know

22:35
as a good friend of mine who's a leader

22:38
in the industry and the index annuity

22:40
side what she says all the time is she

22:42
says stan

22:42
i've never seen a hypothetical come true

22:46
and she's right because you can juice

22:49
the numbers up as

22:50
as best you can but in closing with the

22:53
index stuff

22:54
on the will do not might do the will do

22:56
an annuity for what it will do not what

22:58
it might do

22:58
if you're going to own an index annuity

23:00
here's what you're owning it for

23:01
you're owning it for the principal

23:03
protection you're owning it knowing that

23:05
it's never going to go down

23:07
you're owning it knowing that if you do

23:09
have gains even though they're limited

23:11
they're going to lock in

23:12
on that contract anniversary date those

23:14
are good things

23:16
those are the will do just put your

23:18
realistic

23:19
expectation hat on tightly

23:23
because what you're going to hear out

23:24
there unfortunately are

23:26
too good to be true and made up words

23:28
like protect you from crashes or

23:31
crash proof or whatever people are

23:33
coming up with no offense to those

23:34
people they're just trying to sell

23:36
i just don't like how they're doing it

23:37
i'd rather them just be honest with

23:39
people

23:40
tell them the good and the bad and and

23:41
what they were designed for so with that

23:43
be careful out there get all of the

23:46
information

23:47
do not let anyone press you into a

23:49
decision there's never an

23:50
urgency to buy an annuity because it's a

23:52
contract

23:53
find out all the information do your

23:55
homework get quotes from every carrier

23:58
you know i've written a book on index

23:59
annuities and income writers so you

24:01
might want to get those and read those

24:02
as well

24:03
but with that stay safe out there and

24:05
the other thing i'll leave you this and

24:07
close in with this

24:09
if you're getting pitched by someone it

24:10
sounds too good to be true write down

24:12
everything that they say word for word

24:15
just the way that you understand it and

24:17
at the bottom of the page sign in data

24:18
and flip that page around and have that

24:20
agent sign and dated

24:22
either they're going to sign in data and

24:24
they own the pitch which is good for you

24:26
or that pin is going to weigh a thousand

24:28
pounds that's truly

24:30
the only protection that you have so

24:32
with that i appreciate

24:34
you listening to fun with annuities see

24:36
you next time

24:38
thanks for listening to fun with

24:40
annuities please hit the subscribe

24:42
button and make sure to go to my site

24:44
at the annuityman.com where you can run

24:47
your own spea dia and culat quotes

24:50
and see a live feed of the best mica fix

24:53
rates

24:53
in the country and even get indexed and

24:56
income writer quotes as well

24:58
you can also sign up for my six annuity

25:00
owner's manual books and i'll ship them

25:02
for free

25:03
and under no obligation i also encourage

25:06
you to schedule a one-on-one call with

25:08
me

25:09
stan the annuity man so we can have a

25:11
full discussion

25:12
of your specific situation it will be

25:15
the best

25:15
brutally factual and truthful advice you

25:18
will ever get and that's one guarantee

25:21
you should definitely take advantage of

25:23
so join me next time for the number one

25:25
annuity podcast on

25:26
the planet fun with annuities