10% Free Withdrawal Annuity Nonsense: Shootin’ It Straight With Stan

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Welcome to Shooting It Straight with

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Stan. I'm your host Stan the Annuity

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Man. America's annuity agent licensed in

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all 50 states. Pioneer of contractual

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guarantees

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only.

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I guess we're also Zeke Zeke's behind

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the camera. We're licensed in Puerto

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Rico. Now, I can say that in a Spanish

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accent because we have a Spanish

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division which I'm very, very proud of.

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Today's topic's an interesting one and

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one that comes up occasionally when the

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bad chicken dinner seminar annuity agent

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expensive steak dinner seminar. I always

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say, get the flet mn, get it medium

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rare. You know, swallow the food, not

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the pitch. This typically happens when

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an index annuity gunslinger out there

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that only sells index annuity, one

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sizefits-all product. We have nothing

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against index annuities, but it's not a

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one-sizefits-all product. Um, that we're

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talking about today that the 10%

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um free withdrawal nonsense that's being

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pitched out there. You know, we'll get I

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got a call. The reason I'm doing this

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video is people call me and I listen.

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And the guy said, 'Well, you know, the

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guy said, "Yeah, there's a 10% free

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withdrawal on this one, too." Hey,

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player. Okay, in the index annuity

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world, pretty much every single one

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either has a 7% or 10% free withdrawal.

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Most have 10% free withdrawal, meaning

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that you have access to your own money,

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meaning that if you took that free

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withdrawal, it's going to upset and

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change the contractual guarantees of the

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policy. Hello. But for some reason,

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Johnny Apples Seed agent is like, "Yeah,

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and you get a 10% free withdrawal."

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Instead of saying the right thing, which

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is there are liquidity provisions with

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this index annuity. You can take out 10%

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if you need to. I'd advise you not to

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because it upsets the contractual

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guarantee, but that's a liquidity

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provision. But no, they sell it like

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it's a like it's a benefit. They promote

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it like it's a benefit. And so I'm, you

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know, I'm talking to this guy and I'm

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like, "Hey man, um, you did you get an

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income writer on that?" Yay. Sold me on

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them income writers, too. And got an

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upfront bonus. By the way, upfront bonus

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candy for the stupid. You know, there's

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nobody giving money away at an annuity

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company. And the bonus is just part of

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the overall contractual guarantees. It

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means nothing. If you think that the

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bonus is free money, it's not free

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money. There's not a philanthropist, an

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annuity company that wakes up in the

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morning going, I'm gonna give free I'm

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gonna give money away. No, no, no. It's

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a teaser to get you involved going. They

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want you to be at the at the seminar.

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Go, you know what, Martha? Shoot. That's

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20% 25% bonus. That's well that's a good

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deal. M not all the time. It can be. I

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mean we quote all carriers for

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contractual guarantees and typically

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it's attached to income writers attached

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to index annuities. But in this case the

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guy's like yeah so many income right?

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I'm like yeah and I got this 10% annual

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you free withdrawal too. I said, 'D did

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he tell you that if you took the 10%

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free withdrawal out that it's going to

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affect the lifetime income stream? Well,

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no. Doesn't it just come out of the the

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the the index side and not the income

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writer side? Uh, no. Player, let me let

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me give you a visual. Okay, draw a line

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down a blank sheet of paper. Okay, this

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side's the index annuity side. This

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side's the income writer side. this side

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you can't cash in, transfer or peel off

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that yummy growth that they tell you

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you're getting 8% on grow. That's not

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yield player. That's that's it growing

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by that amount. Okay, for lifetime

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income and 8% don't mean anything. It's

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all about the the bottom number. But

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going back to income writer accumulation

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value, the 10% is taken from both sides.

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So if you say, I want that 10% free

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withdrawal that Johnny Apples Seed agent

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told me about because that's a good

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deal. Well, you've lessened this amount,

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which is your death benefit walkway

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amount, but you've also lessened your

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lifetime income amount because 10% comes

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out of that account as well. Hello.

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Weren't told that, were you? Wow, that's

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interesting.

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10% free withdrawal means you have

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access to your own money. Okay, great.

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Super. They put Thank you. Thank you,

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annuity company, for putting in that

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that liquidity provision. is nothing

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more than a liquidity provision.

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That's it.

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You know, so in the in the sales pitch

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you're hearing out there at the by the

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by your advisors and people's pitching

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index annuities. And by the way, we sell

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more index annuities than anyone, but

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the way that we feel that they should be

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sold at the time of this taping is when

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you attach an income writer for lifetime

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income. You don't have to, but if you

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answer the question, two questions we

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always ask. What do you want the money

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to contractually do? If you said that

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income was the answer. And then the

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second question, when do you want those

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contractual guarantees to start? And you

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said probably seven years from now, 5

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years from now, nine years from now,

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whatever, three years from now. Then we

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attach an income writer for that

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contractual guarantee. The contractual

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guaranteed side is the income writer

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side. Okay? So, if you're going into the

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income writer side, that's your

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contractual guarantee. That's the amount

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of money you know to the penny what it's

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going to be 7 years from now. Then you

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got to understand that 10% free

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withdrawal that Johnny Apples Seed agent

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told you about. It's going to affect

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that if you start taking it out. Now I

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understand things happen. There's

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events, there's emergencies, there's all

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all kinds of stuff like that. It's

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available to you and that's a good

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thing. But what I don't want you to do

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is think that's a that's a big deal. I

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also don't want you to think that when

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they say you get an upfront bonus,

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that's not a big deal either. Who cares?

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If if it affects in a positive way after

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us quoting all carriers for lifetime

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income that income writer side, great.

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Then we'll choose it. Who cares? I don't

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care. It's part of there's a 100 pennies

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in the dollar. Okay. But don't say,

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"Well, I'm getting a I'm getting This is

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what the guy told me. I'm getting a 25%

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upfront bonus and I got 10% free

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withdrawal and and I'm getting long-term

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care." No, you're not getting long-term

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care because long-term care is a health

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product. It's not a life insurance

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product. Everything is wrong about that

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pitch. And also, part of the pitch was,

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"And I'm going to get market upside with

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no downside." Wow. Holy mackerel. I

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mean, you're talking about checking your

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morals at the door as an agent with that

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sales pitch. Ridiculous. And if you own

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an an index annuity and were so already

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and you were sold on the growth side,

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market upside with no downside, market

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participation, principal protection, you

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know that's not true. Now, after two

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years, you know it. And I'm going to

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tell you right now, I've never and I I

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the challenge is out there and it's big

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money behind it. If you can show me

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a hypothetical, theoretical back tested

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proposal that you signed off on that you

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bought and it came true or better. I've

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been I've been putting that challenge

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out there for 25 years. Nobody's taking

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me up on it. Why? Because it never comes

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true. Okay? And it will never come true

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if you're taking 10% out. Well, I'm I

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can take 10% out. It affects the whole

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policy if you do that, Chester.

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Okay. So, don't if it sounds too good to

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be true is every single time without

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exception with annuities without

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exception. If you're interested in in an

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income writer or index annuity with an

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income writer, go to my site at

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theanuityman.com

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and run run quotes to your heart's

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content. By the way, lifetime income, A+

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or better. You don't need a sweater,

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Zeke. It rhymes. A+ or better. You don't

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need a sweater for lifetime income. You

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got to make sure that company is solid

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and going to be here. All right. Now,

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everything that we recommend, I

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personally sign off on. Everybody in my

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Las Vegas office is licensed in all 50

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states, but they are not on commission.

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They follow my recommendations. I look

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at every single case. All right. I do

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that. You say, "Well, how's that?

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Thousands of cases a week." Yeah,

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absolutely. But I can look at them,

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glance at them, know what they're going

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to do, direct my team to do the right

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thing, do exactly what I would do. And

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if you want to get me on the phone, you

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can do that. I'm not afraid of you,

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player. Email me stantheanuityman.com.

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stantheanuityman.com.

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I'll I'll respond and we'll get

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involved. I'll get involved personally.

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One last thing, this yummy hat. You're

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saying, Stan, you're so attractive in

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those hats. Boy, I'd really like to get

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a hat and see if I could pull that off,

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too. You can. If you're a client

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watching this and you don't have one,

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sorry. Uh, we'll send you one. Just

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shoot me an email. Again,

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stantheanuitymen.com. If you're not a

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client, but you're considering, no

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obligation. will send you one as well.

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You just got to give me a good reason

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why. Again, stantheanuityman.com.

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But I guess in closing about this 10%

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free withdrawal, you know, and the

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upfront bonuses, all that sound, if it

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sounds too good to be true, it is every

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single time. And when you take money out

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of a policy, it affects the contractual

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guarantees across the board.

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Period. And if you haven't been told

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that, shame on the agent for not telling

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you that. You know, as my grandfather

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always said, Zeke, if you tell the

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truth, you don't have to remember

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anything. And that's what we do here at

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the Annuity Man. Are we not perfect? No,

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we're not perfect, but we run toward the

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bullets and we make sure that we solve

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any type of problems or issues that you

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may have. And we'll take you from start

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to finish and across the finish line. If

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you decide to work with us, we represent

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all carriers and can pro provide the

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highest contractual guarantees out

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there. So, with that being said, my name

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is Stan the Annuity Man, and that is

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shooting it straight with Stan.