033 Annuities vs. Life Insurance: Which is better & how do they differ?

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welcome to

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fun with annuities with your host me

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stan

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the annuity man america's annuity agent

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can annuities be fun

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can contractual guarantees be fun

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absolutely they can

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find out the brutal facts about

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annuities with no sales pitches or high

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pressure nonsense

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just the brutal and factual annuity

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truth which is all you need to hear

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let's have some fun with annuities and

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let's have that fun

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start right now

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[Music]

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welcome to fun with annuities i am stan

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the annuity man america's annuity

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agent licensed in all 50 states

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including yours and welcome to the

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podcast the number one annuity podcast

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on the planet now for those of you that

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are listening

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1:09
informative videos but if you want to

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watch this

1:12
podcast you certainly can and

1:15
a lot of people like because i get all

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animated and i start you know telling

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crazy stories and

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and they kind of gets the feel of who i

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am uh

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i am the top agent in the country i've

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been doing the financial services

1:26
business for a long long time as with

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all the major firms

1:29
all the names you've ever heard i'm not

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going to give them the promo now but i

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was doing that for a long long time

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and then became stan the annuity man a

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while back been doing this a while

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and in those that time period i've

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written and published seven

1:43
books on annuities of which i will send

1:45
you for free and under no obligation if

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you go to the annuityman.com

1:49
also too at my site you can um you can

1:52
schedule call with me who you want to do

1:53
a one-on-one consultation no charge

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and it's not salesy i mean i'm just

1:57
going to tell the truth

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i mean as my grandfather said if you

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tell the truth you don't have to

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remember anything so you can do that

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call a schedule call with me at this at

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the site if you go to the home page at

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the very top

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right hand corner you'll see us

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scheduled to call a schedule calling

2:13
one of the cool features on the site the

2:15
annuityman.com

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um is also you can run quotes you can

2:20
run

2:20
your own quotes on speas and diaz and

2:22
q-lex and all those types of products by

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the way those are immediate annuities

2:25
deferred income annuities and qualified

2:27
longevity annuity contracts enough about

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all that

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let's talk about today's topics which is

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um are annuities better than life

2:35
insurance is life insurance better

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than annuities and how do they differ

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um and that's very important it gets a

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little confusing and let me kind of

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explain why um annuities are

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issued by life insurance companies

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but life insurance and annuities are

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completely separate animals from the

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standpoint of strategies and contractual

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guarantees and transfer of risk

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you know both life insurance and

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annuities regardless of the type of

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annuity

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are transfer of risk products you're

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transferring the risk

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to the annuity company the life

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insurance company to do something

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specific so let's

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talk about life insurance for a second

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disclaimer i do not

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sell life insurance i'm stand the

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annuity man not stand the life insurance

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man

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so um i but i love life insurance i have

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millions and millions and millions of

3:25
dollars

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on me personally so if i just show up

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like randomly dead

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um then my and my wife shows up to the

3:32
funeral and a lamborghini then you kind

3:34
of can put two and do together or my

3:35
daughter's helicopter in i got 21

3:38
and 23 year old daughters at the time of

3:40
this taping so

3:41
but i love life insurance i always tell

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people life insurance is the best return

3:45
on

3:45
investment that you're never going to

3:47
see because you're dead

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now in the life insurance world

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currently there's a lot of

3:53
nonsense and products being sold that i

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think are very

3:56
convoluted and too complex

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to me stand the annuity man mr

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simplicity making annuities simple let's

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make a life insurance simple right now

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when you buy life insurance you buy the

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most death of

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death benefit that you can for the least

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amount of money

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and in my world that would be term life

4:15
insurance or level term and what level

4:17
term means is

4:18
that let's just say you have a level

4:20
term policy for 30 years

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that means for those 30 years that

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premium amount that you have to pay

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every year for the life insurance

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is never going to change and i like

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that's what i do and i

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and i like that it's the most efficient

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but boy there's a lot of nonsense and

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sales pitches out there

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with with life insurance and we're going

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to get to that in a second

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but um you know life insurance one of

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the things you have to know about that

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it's underwritten meaning that

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well 99 percent of the big policies if

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you really want to take out a big policy

4:48
on yourself

4:48
you got to go through the underwriting

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process meaning

4:51
blood tests and medical tests nurse

4:53
showing up and all that stuff and that's

4:54
fine if you're going to get

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you know big numbers behind there are

4:58
some guaranteed issue or some

5:00
simple issue type life insurance policy

5:02
but they're for really really low

5:03
numbers

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so when we're talking about underwriting

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we're talking about if you want a

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hundred thousand two hundred thousand

5:08
million

5:08
two million on you life insurance you

5:11
gotta go through the underwriting

5:12
process

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um and and that can be a pain in and

5:16
that's uh

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a lot of people don't have life

5:18
insurance because they can't qualify you

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know

5:21
i always say annuity companies have the

5:22
big buildings for reasons life insurance

5:24
companies which are annuity companies

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have the big buildings for a reason

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in the life insurance world they want to

5:28
ensure young healthy people right

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so if you're older it's going to cost

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you more if you have some health issues

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it's going to cost you more and you

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might not even

5:36
even qualify but from a legacy

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standpoint

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just pure legacy leaving money to your

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beneficiaries

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there is absolutely nothing that

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compares

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to life insurance because when you die

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that

5:50
that death benefit goes lump sum

5:54
tax free probate free to the list of

5:57
beneficiaries of the policy

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if you ever wondered why you live in a

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neighborhood and some

6:03
complete idiot has this big house and

6:05
driving the car and

6:06
and acts like he's successful it's

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probably because his dad or mom

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had a really good life insurance but i

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digress i'm kidding but there are a lot

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of people out there that are getting

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these lump sum life insurance policies

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which is fantastic my daughters will

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have will be playing that role

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because when my literature hits the

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mountain and no i do not have a leader

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jet

6:24
but that's a saying i use when my lyric

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hits that mountain

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um and i die the life insurance tax free

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launch sum is going to come

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come to my daughters and my wife they'll

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never have to work another day of their

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life i

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i believe in it that much but i do not

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sell it i have to focus and stay in my

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lane

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on on annuities and if you want to buy

6:46
life insurance if you're buying level

6:48
term like the really simplistic pro

6:50
consumer

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stripped out cost i think the best

6:54
policies in my opinion for consumers

6:56
i mean the internet is just full

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of all of it you can find those people

7:02
everywhere

7:03
and it's competitive like annuities life

7:06
insurance is a commodity quote you have

7:08
to shop all carries for the highest

7:09
contractual guarantee

7:10
or in essence the highest death benefit

7:12
for the least amount of money

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so that's really that's life insurance

7:16
in a nutshell

7:17
um now annuities are a whole different

7:20
animal

7:20
now annuities are for for when you're

7:23
living

7:24
these are life benefits um but let's

7:27
just look at it from a legacy standpoint

7:29
even though life insurance companies

7:31
issue annuities and let's just say you

7:33
bought an annuity

7:34
for a death benefit you couldn't qualify

7:36
for the underwriting or life insurance

7:38
and you bought an annuity for the death

7:40
benefit

7:41
that death benefit is taxable to your

7:44
beneficiaries whereas a life insurance

7:45
death benefit

7:46
goes tax-free that is a huge difference

7:50
but when you're buying annuities you

7:53
know it really comes down to two

7:55
questions i'm going to repeat them again

7:56
if you've heard them again and you're

7:57
slapping your head

7:58
i'm sorry but we have to drive the point

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home for the first time listeners by the

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way welcome

8:03
the the two questions are what do you

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want the money to contractually do

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and when do you want those contractual

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guarantees to start

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from those two answers i can determine

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if a you need an annuity and you might

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not

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because if you answered market growth

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you don't need an annuity and then

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you know b if you do if you do say

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qualify for annuity or i think it's

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appropriate and suitable for us to look

8:25
at annuity

8:26
annuities then the answers to those two

8:29
questions will then point me to the

8:30
right

8:30
product type and when people say the

8:32
word annuity it's not all encompassing

8:35
there's many types of annuities that do

8:37
different things so

8:38
if you said for instance answer the

8:40
question stan i don't want to lose any

8:42
money and i want a guaranteed interest

8:43
rate

8:44
well that's a multi-year guarantee

8:45
annuity which is the annuity industry

8:47
version of a cd

8:48
if you said stan i want lifetime income

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and the second part of the question is i

8:52
want those that income to start

8:53
immediately

8:54
then that's a single premium immediate

8:56
annuity see what i'm doing

8:57
what do you want the money to

8:58
contractually do when do you want those

9:00
contractual guarantees to start

9:02
the other thing that i did that i help

9:04
people determine if they need an

9:06
annuity is the acronym i've come up with

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called pill

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p-i-l-l p stands for principal

9:12
protection

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i stands for income for life l stands

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for legacy

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and the other l stands for long-term

9:18
care confinement carol do it again

9:19
p stands for principal protection i

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stands for income for life l stands for

9:22
legacy the other l stands for long-term

9:24
care confinement care

9:25
now there is an l there for legacy but

9:28
let's let's be very clear once again let

9:30
me clarify

9:31
life insurance is the best legacy

9:32
product on the planet period end of

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story

9:35
nobody can argue because that tax it's a

9:37
tax-free lump sum benefit

9:39
that goes to your list of beneficiaries

9:41
of the policy i mean

9:42
you talk about people loving you after

9:44
you're dead i guess that's when my my

9:46
kids are probably gonna go

9:47
you know what he was he was really not a

9:49
bad

9:50
father yeah as they're swimming in

9:52
millions of my life insurance death

9:54
benefit

9:55
but i think they'll have good intentions

9:57
right maybe

9:58
i don't know they're 21 and 23 i mean do

10:00
they have a is their brain

10:01
formed yet but the point is on on the

10:04
annuity side

10:05
is you know you're trying to solve for

10:07
those four things if you say

10:08
i want market growth you don't need an

10:10
annuity but the reason the l

10:12
is the l for legacy is in that pill

10:14
p-i-l-l for annuities

10:16
is some people cannot qualify for life

10:19
insurance they can't pass the

10:21
underwriting

10:21
they're smoking 12 packs of cigarettes a

10:23
day and drinking a bottle of jack

10:25
daniels and

10:26
you know guzzling cbd oil whatever

10:28
they're doing right

10:29
and they can't qualify and if you can't

10:32
qualify then there are some annuities

10:34
that have attached death benefit riders

10:36
that

10:37
anybody can get guaranteed issue okay

10:41
but it's not as good as life insurance

10:44
let's just be clear about that one of

10:46
the things in the life insurance

10:47
business that's kind of bothering me

10:49
right now is

10:51
there's a lot of agents that are selling

10:53
life insurance

10:55
for other reasons than what it was put

10:57
on the planet for us put on the planet

10:58
for death benefit

11:00
tax free lump sum death benefit but

11:02
you'll hear a lot of agents out there

11:04
pushing

11:05
index growth inside of the policy or

11:08
cash value inside of the policy

11:10
and then they have the audacity the

11:12
complete audacity

11:14
to say you can get tax-free no

11:17
when i say this just calm down because

11:19
it's just i'm gonna explain it's not

11:20
true

11:21
okay they're gonna say you can get

11:22
tax-free income from

11:24
a life insurance policy well first of

11:26
all that's garbage because

11:27
there is no such thing what you're doing

11:29
is you're taking a loan

11:31
from the policy to access that cash

11:33
value but loans aren't tax-free income

11:36
when you go to the bank and you get a

11:37
loan you don't consider that

11:39
tax-free income you consider it a so

11:41
they're playing some semantics some word

11:43
games

11:43
and i'm not saying all those policies

11:45
are horrific there are sometimes those

11:47
policies do work

11:49
when you're solving for specific things

11:51
there are some long-term care type

11:52
policies

11:54
that life insurance policies that might

11:56
be worth looking at

11:57
but you really should buy life insurance

12:01
for the tax-free death benefit i mean

12:03
it's just

12:04
really that simple now there are some

12:07
ways that

12:08
life insurance and annuities can work

12:11
together and i'll give you an example i

12:12
got a call the other day

12:14
and the guy says you know i my wife

12:17
doesn't

12:17
you know care about investments and he's

12:19
this guru he's following the stocks and

12:21
got multiple screens

12:22
and he's like you know what i'm going to

12:24
buy a life insurance policy stand but i

12:26
want to buy an immediate annuity

12:28
that will pay the premium every year

12:31
so i said great that's fantastic that

12:33
works that's

12:34
that's kind of an arbitrage leverage

12:37
situation

12:38
so what i told him to do was find you

12:39
know get the get the term

12:41
level term policy get the quote and then

12:44
get the death benefit that you want and

12:45
then tell me exactly

12:47
to the penny how much of that how much

12:50
annual premium it will take to keep that

12:52
policy up so here's what we did

12:54
so he came up with something it was a

12:56
gargantuan policy his wife's going to

12:58
love him she's going to

12:59
she's going to lure jet into the to the

13:01
funeral and lure jet out and a fur coat

13:03
i mean this

13:03
this was a big policy but it was it was

13:05
big let's just say it was 25 000

13:08
a year it was something in that range to

13:10
fund

13:11
that life insurance policy so what i

13:13
told him is us we're going to do a life

13:14
only policy

13:16
single premium immediate annuity and by

13:18
the way single premium

13:20
immediate annuities were put on the

13:21
planet in the roman times to pay a

13:23
pension

13:24
payment to the dutiful roman soldiers

13:26
and their families that's where

13:27
immediate annuities came from

13:28
and to this day i mean they've been sold

13:30
in this country united states for

13:32
hundreds of years and pretty much the

13:34
same product

13:36
but going back to this example so you

13:38
know we're solving for the 25 000

13:40
a year i said let's do a life only

13:42
policy of course he's like

13:43
you know what what are you talking why

13:45
not why life only because

13:47
you're funding the life insurance policy

13:48
so um

13:50
you know when you die the the immediate

13:53
annuity stops

13:55
and the life insurance policy pays to

13:57
the wife it's a it's the most efficient

14:00
way to do it

14:01
so he came to me and said okay i'll that

14:04
sounds good

14:05
i'll probably he ended up doing that by

14:06
the way but he wanted to know other

14:08
angles and i said okay you could do this

14:10
you could do a joint life policy with

14:13
your wife

14:13
solving for that premium that twenty

14:15
five thousand dollars that that's paying

14:18
um you know the the life insurance

14:20
premium every single year

14:22
but here's the fun part about doing it

14:24
like that if you set up joint life

14:26
like that with your wife so you're

14:28
paying the premium

14:29
to the life insurance policy and when

14:31
you die

14:32
the annuity payments continue because it

14:36
set up joint life with your wife

14:38
it continues for the rest of her life

14:40
and

14:41
she gets the the lump sum death benefit

14:44
from life insurance policy

14:46
hello i have a lot of people doing that

14:48
um

14:49
that are trying to to solve for that

14:51
life insurance

14:52
amount and it's a good way to arbitrage

14:55
the one policy against the other you're

14:56
using the

14:57
the spia policy the immediate annuity

14:59
policy to pay

15:00
the life insurance premium and you can

15:02
again you can set up life only just on

15:04
you or you can set it up joint life only

15:06
on you and the spouse and we can

15:09
bottom line is we can structure it a

15:12
myriad of ways but what i want you to

15:14
primarily come away

15:15
from from this podcast is understanding

15:18
kind of the basic differences

15:20
from life insurance and annuities and

15:22
people say which one's better stan

15:24
the annuity man america's annuity agent

15:27
um

15:28
no good answer just bad sales pitches as

15:30
i always say

15:31
it depends on what you're trying to

15:33
solve for if your

15:35
goal is pure legacy leaving money to the

15:37
beneficiaries

15:38
leaving money to the family leaving

15:40
money to a charity leaving money

15:42
and leaving that legacy then life

15:45
insurance

15:45
if you can qualify medically for if you

15:48
can get underwritten and approved

15:50
and afford the premium life insurance is

15:53
the best way to do it and in my opinion

15:56
it's level term life insurance which

15:57
allows you to buy the most

15:59
death benefit death benefit for the

16:01
least amount of money

16:03
and just like with annuities we try to

16:05
we try to use the least amount of money

16:08
to solve for the contractual goal so

16:10
both of them are similar in that

16:12
standpoint the way that i approach them

16:15
but with annuities

16:16
you know most people are using annuities

16:19
today

16:20
for either two primary things i mean the

16:23
legacy part if they can't

16:25
um you know qualify for law for life

16:28
insurance and then long-term care

16:30
confinement care

16:31
that's a secondary type coverage play it

16:33
same thing goes with with long-term care

16:35
if you can't qualify for traditional

16:37
long-term care which is the best

16:38
coverage

16:39
then annuities can provide a guaranteed

16:42
issue

16:43
or simplified issue coverage for

16:45
long-term care but the primary two

16:47
things of that pill the p and the i it's

16:49
the p and the i o

16:51
of the pill not the l and the l the

16:53
legacy and the long term care are

16:54
secondary

16:56
strategies if you can't qualify for

16:57
traditional life insurance or

16:59
traditional long-term care

17:00
but the primary reasons people use

17:02
annuities for principal protection

17:05
okay let's cover those those products

17:08
primarily

17:09
multi-year guarantee annuities which is

17:11
the annuity industries version of a cd

17:14
okay and fixed index annuities which by

17:16
the way are not market growth products

17:19
even though they're sold like that these

17:21
are cd products regulated at the state

17:23
level they're not securities they're

17:24
life insurance products

17:26
so if you want to protect the principal

17:27
you can and you can get an interest rate

17:30
attached to it

17:31
which is great and indexed and news

17:33
allows you to do some other things like

17:34
attach income riders for future income

17:37
things like that attach writers for

17:39
specific benefits

17:41
but the primary reason people use

17:43
annuities and the primary reason they're

17:44
put on the planet like i said about

17:46
the roman times is for lifetime income

17:49
the word annuity comes from the latin

17:52
word annua a

17:53
nua and no i didn't go to take latin in

17:56
college as you can tell

17:57
or high school but that means payment or

18:00
annual payment

18:02
and so that is the root word for annuity

18:05
and annuities are the only product on

18:08
the planet

18:10
that can provide a lifetime income

18:11
stream and pay regardless of how long

18:13
you live

18:14
life insurance also has a very unique

18:16
monopoly and what is that again

18:19
a tax-free lump sum death pen benefit

18:21
that passes

18:22
outside of probate no other product does

18:25
that

18:26
period end of story and no other product

18:29
pays a lifetime

18:30
income guarantee like annuities so right

18:33
now

18:34
in the at the time of this taping um

18:37
there are over 10

18:38
000 people every single day that turns

18:42
65 years old you say wait a minute stan

18:45
what does that have to do with anything

18:46
what does that do with what we're

18:47
talking about today

18:48
well what it has to do with this people

18:50
that turn 65 are kind of going into

18:52
chapter two of their lives

18:54
and they want more guarantees they want

18:56
more lifetime income they want more

18:58
principal protection

18:59
they don't want as much of the stock

19:01
market volatility

19:03
as they want this as they once desired i

19:06
mean that's just the bottom line

19:08
understand though with with um annuities

19:11
and lifetime income payments

19:12
the primary pricing mechanism is life

19:15
expectancy

19:16
or life expectancies at the time you

19:18
take the payments

19:20
interest rates play a secondary role now

19:22
if we had jimmy carter interest rates

19:24
would the payments be higher yes but

19:26
there's an argument right now

19:27
at the time of this taping that interest

19:29
rates might go lower

19:31
i mean when the when the government's

19:32
printing money like they're printing

19:34
money

19:35
um i don't expect them to raise interest

19:38
rates on themselves it'd be like me and

19:40
you

19:40
having a mortgage and going you know

19:42
what let's raise the mortgage rate just

19:44
to be fair

19:44
no they're not they're probably not

19:46
going to do that so i always tell people

19:48
you can't time rates

19:49
at all now um with life insurance

19:53
the underwriting can be depending on the

19:56
the carrier

19:57
some carriers will underwrite people

19:59
that smoke or there's

20:01
if you want life insurance and you're

20:03
willing to pay the premium to get that

20:05
death benefit

20:07
there are there are carriers out there

20:08
they can probably underwrite

20:10
your your policy you might not be

20:12
thrilled with the payment

20:14
but you have to look at it a little

20:17
differently

20:18
i don't really look at um either either

20:21
life insurance

20:22
or uh or annuities as investments i look

20:25
at as contracts are you happy with the

20:27
contractual guarantee of the policy

20:29
and the transfer of risk yes early in

20:31
the in the podcast i said that

20:33
you know life insurance is the best

20:34
return on investment you'll ever see

20:36
that is true you know when you run the

20:38
number i always tell people you know

20:39
have someone stand up at the funeral

20:41
right in front of your casket and go

20:42
well jim put in x amount in the life

20:45
insurance policy and just paid out this

20:46
was

20:47
the roi was this so it's pretty good and

20:49
they always tell people there's no roi

20:51
until you die right

20:52
so but but understand that you're going

20:55
to hear all kinds of

20:57
convoluted complex sales pitches on both

21:01
the annuity side and the life insurance

21:03
side one of the things that i think is

21:06
is the same about life insurance and

21:08
annuities is you should take a

21:09
simplistic approach

21:11
to buying both you should you sh if you

21:13
can't explain it to a

21:15
year old no offense to nine year olds

21:16
you shouldn't buy it it has to be simple

21:19
um and if the if it takes the agent or

21:23
advisor

21:23
you know two or three meetings to try to

21:25
explain the annuity

21:26
or the life insurance policy they're

21:28
trying to sell you it might be a little

21:30
bit too complicated okay or it might

21:31
have to

21:32
too much in fees etc you have to be very

21:35
wary of it

21:36
and for both policies if someone's

21:39
pitching you something

21:41
and it sounds too good to be true

21:43
whether it's life insurance and

21:44
annuities

21:45
it is every single time okay

21:48
it just is these are contracts and you

21:51
buy them for the contractual guarantees

21:53
of the policy

21:54
you know always joke that you know this

21:56
is the annuity fund cam and you're in

21:57
the will do not might do studios

21:59
will do means contractual guarantees

22:01
might do is all that hypothetical

22:03
theoretical projected back tested

22:05
hopeful

22:05
unicorns chasing the butterflies agent

22:08
scenario returns that they show you go

22:10
look if you don't owned it then you'd

22:11
have made this

22:12
yeah great you know if i'd had dieted

22:14
for the last 10 years i wouldn't be fat

22:16
or whatever right if i'd exercise more i

22:18
wouldn't have health issues

22:20
i mean you can't look back at policies

22:23
like that

22:24
and make decisions um and i think if you

22:26
come away with one thing

22:28
about this topic which is you know

22:31
our life is life insurance better

22:33
annuities or nobody's better than life

22:34
insurance how do they differ

22:36
it's just understand this there is no

22:39
best annuity there is no best

22:42
life insurance policy you have to buy

22:45
both

22:46
product types like you buy a plane

22:48
ticket you have to shop all carriers

22:50
you have to put in the exact parameters

22:52
that you want to happen the exact

22:54
contractual

22:55
structure you want to happen you shop

22:56
all carries and you find the best deal

22:58
the best contractual guarantee

23:00
for your specific situation and it's a

23:02
fluid quotation market where

23:05
you know quotes change so you know this

23:07
week or this month there might be a

23:09
guarantee that you like and it might be

23:11
completely different

23:12
the next month you have to understand

23:14
that now i always tell people and i

23:16
laugh all the time about

23:17
you know people say well you always say

23:19
annuity comes to the big buildings for a

23:20
reason

23:21
it really is true and the main reason is

23:24
well there's two main reasons but

23:25
the first reason is they don't give

23:27
anything away okay people that think

23:28
that

23:29
annuity companies give up front bonuses

23:31
or you know they're given they're not

23:32
giving anything away they're pricing it

23:34
in trust me

23:35
there's no philanthropist um at annuity

23:38
companies i mean

23:39
they're it's just it's just not that way

23:41
so

23:42
you have to be real careful about you

23:44
know falling for the sales pitch and

23:46
those type of things so

23:47
um i think that's about it i mean

23:51
uh to me they they work

23:54
well when you fully understand the

23:56
policy oh i know i was gonna tell you

23:58
any time that you want to buy a life

24:00
insurance policy or an annuity policy

24:03
of any type remember when you say the

24:04
word annuity

24:06
there's many types of annuity policies

24:08
um remember there's single premium

24:10
immediate annuities deferred income

24:11
annuities qualified longevity annuity

24:12
contracts index news variable annuities

24:15
multi-year guarantee annuities

24:16
charitable gift annuities blah

24:18
there's many types of annuities same

24:20
thing with

24:21
the life and there's all types of life

24:23
insurance policies even though i think

24:24
you should strip it down

24:26
but the bottom line with all of this buy

24:29
simplicity

24:30
don't buy complexity you know if you

24:32
really can't explain it to your spouse

24:34
or partner or your beneficiaries or your

24:36
kids or your friends

24:37
or even back to the agent don't go on it

24:40
don't buy it

24:42
and i know that flies in the face of a

24:44
lot of the stuff you hear

24:46
and don't accept that 30 000 foot sales

24:48
pitch that just sounds really good and

24:50
neat and

24:51
and tied up in a little bow no

24:54
don't don't do that so let's kind of

24:57
let's let's um

24:58
conclude by going over the kind of the

25:00
differences

25:01
and the and the positives about life

25:03
insurance life insurance

25:04
um annuities are issued by life

25:06
insurance companies life insurance death

25:07
benefits are tax-free whereas

25:10
annuity death benefits are taxable um

25:12
life insurance is

25:13
is primarily an underwritten product

25:16
when you get when you're going for the

25:17
large death benefit

25:18
and annuities are guaranteed issue um

25:21
and 99

25:22
of the cases there's a couple of

25:23
annuities that that can be underwritten

25:25
but they're

25:26
tiny tiny a tiny part of the market so

25:28
you know one's guaranteed issue one you

25:30
gotta you've got to go through the

25:31
underwriting process

25:32
doesn't make one better than the other

25:34
you can also use them together like i

25:36
described in

25:36
in the in the story where the gentleman

25:38
purchased the immediate annuity to pay

25:41
the premium for the life insurance

25:42
policy bottom line is

25:45
do you need to transfer risk only you

25:48
can

25:48
can can answer that right i mean do you

25:51
want to transfer risk if you want to

25:52
shoulder the risk and stay in the

25:53
markets

25:54
stay in the markets why wouldn't you do

25:56
that i mean but

25:57
for life insurance you know shop all

25:59
carriers if you want to buy it i just

26:01
type into the google search

26:02
bar level term insurance quotes bing

26:06
and then it'll it'll light up like crazy

26:08
and if you want to get quotes

26:10
um from all product types from me you

26:12
can go to the annuityman.com

26:14
and run quotes yourself you can go we

26:16
have an immediate annuity calculator

26:18
qualified longevity annuity calculator

26:20
deferred income and annuity calculator

26:22
you can you can request indexed annuity

26:25
and income writer quotes which we run

26:26
and turn in in less than 24 hours we'll

26:28
get it to you

26:29
and then there's a live feed of the best

26:31
mica fix rates multi-year guarantee

26:32
annuity fixed rates

26:34
on the planet so also remember that in

26:37
addition to this fun with annuities

26:38
youtube channel i do have a youtube

26:40
channel called stan the annuity man

26:42
and there are hun i think there's over

26:44
three at the time of this taping i think

26:45
there's over 300

26:47
educational videos typically 5 to 10

26:49
minutes long that i tell the brutal

26:51
truth

26:52
and brutal facts about annuities i mean

26:53
people kid me all the time because i

26:55
call myself

26:56
the walking middle finger of annuity

26:58
truth and and i don't mean that in a

27:00
in a negative way i mean that in i'm

27:02
going to be brutal and if you deal with

27:03
me if you choose it

27:05
to become a client of ours i'm going to

27:06
be brutally honest with you and brutally

27:08
truthful

27:08
i'm going to tell you if you don't need

27:09
an annuity i'm going to tell you if

27:10
you're putting too much money in an

27:11
annuity i'm going to tell you if you're

27:13
doing the wrong thing

27:14
i'm going to tell you if you're falling

27:14
for someone's sales pitch but you know

27:16
what that's what you need i'm not going

27:18
to be your friend

27:18
be the best darn advisor you've ever had

27:20
in your life period

27:22
so with that let's close it up my name

27:25
is stan the annuity man

27:27
you have been listening to the number

27:28
one annuity podcast on the planet

27:31
and it just happens to be called fun

27:35
with annuities

27:41
thanks for listening to fun with

27:43
annuities please hit the subscribe

27:44
button and make sure to go to my site

27:47
at the annuityman.com where you can run

27:50
your own spea dia

27:51
and q lat quotes and see a live feed of

27:54
the best mica fix rates

27:55
in the country and even get indexed and

27:58
income writer quotes as well

28:00
you can also sign up for my six annuity

28:02
owner's manual books and i'll ship them

28:04
for free

28:05
and under no obligation i also encourage

28:08
you to schedule a one-on-one call with

28:10
me

28:11
stan the annuity man so we can have a

28:13
full discussion

28:14
of your specific situation it will be

28:17
the best

28:17
brutally factual and truthful advice you

28:21
will ever get and that's one guarantee

28:23
you should definitely take advantage of

28:25
so join me next time for the number one

28:27
annuity podcast

28:28
on the planet fun with annuities