Annuity Companies Want Your MYGA to Auto-Renew: Shootin’ It Straight With Stan

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Welcome to Shooting Straight with Stan.

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I'm your host, Stan the Annuity Man,

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America's annuity agent, licensed in all

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50 states in Puerto Rico. Today's topic

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is an interesting one, but one that you

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need to be aware of. And the title is

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annuity companies want your MIGA to

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renew. They want it to autorenew. That's

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part of the strategy. Doesn't make them

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bad people. They're business people. I

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mean, they're they're capitalist. But

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let's talk about MAS for a second. MAS

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multi-year guarantee annuities are the

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annuity industry version of a CD. You

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get a guaranteed interest rate for a

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specific period of time. If you're using

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non-qualified checking account type

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money, the interest grows and compounds

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tax deferred. If you said, "Stan, I'm

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holding a gun to your head. What do you

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own?" Uh, primarily in the annuity

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world, um, me and the queen Christine

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owns because the annuity man as a

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company is the best growth stock you

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can't buy. makes Nvidia look like a per

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um but so we take the rest of our money

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and we buy Migos so that we don't have

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to pay taxes on the interest it compound

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compounds and grows etc. Now with MAS,

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you have a specific time period that you

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choose. Let's say you choose a

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three-year or a 5y year or sevenyear, 10

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year, but let's choose fiveyear as an

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example. So you buy a five buy a 5-year

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mic. What's that mean? Stan the annuity

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man. That means that you're locking in

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that guaranteed interest rate that's

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going to compound annually um for those

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five years. At the end of the five

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years, now my team, we sell more mics

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than anybody on the planet. um go to our

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site theanuityman.com see live mega feed

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and I list all carriers that doesn't

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mean we recommend them but it does mean

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that I'm going to list them all and then

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you're going to get on the phone with me

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and I'm going to explain which ones I

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recommend but at the end of the term my

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team is going to call you 60 days prior

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to it maturing and make sure that it

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doesn't autorenew

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the best at it I I've got the biggest

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staff in the annuity business we do not

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ever let anything auto renew. You say,

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"But Stan, why are you so

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adamant about the autorenewal? What's so

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wrong with that?" Well, historically,

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the autorenewal rates are horrible.

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So, for instance, let's just say you

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have the five-year, it's starting

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mature, and you want to go into another

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five-year, but you like the carrier that

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you're at. They're going to send you a

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piece of paper, email, whatever, and

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say, "We will autorenew your policy at X

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X percentage. It's never competitive. We

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just have never ever seen it

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competitive." And you go, "Wait a

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minute. That doesn't make any sense. Why

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wouldn't the MA carrier that I'm with

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want to keep my money and and have a

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very robust interest rate that's

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competitive with if I shopped all other

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five-year rates at the time it matures?"

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Stan the Annuity Man, America's annuity

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agent. Why wouldn't they do that? That

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doesn't make sense.

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What they figured out is this.

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The average lifespan of an annuity agent

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in this country is a little bit less

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than five years. So, you know, Johnny

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Apple Seed agent starts, I'm going to

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compete with the annuity man. I'm going

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to kick his rear end. Okay, great. Uh,

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I've been doing this for decades. And

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they don't make it. You know, they just

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don't make it. Well, they sell things

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along the way. And then when they don't

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make it, they go do what they do. you go

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drive a truck or manage a BIES, whatever

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they're doing, but the people that they

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sold it to, there's no servicing of that

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account. So, people forget about it and

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things auto renew at a low rate, which

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is good for the annuity company. That

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does not make the annuity company bad,

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but it is part of the business model.

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Now,

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I don't think that annuity companies

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would admit to that, like go on a a

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podcast on on the My Fund with Annuities

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podcast and say, "Yes, Stan, that is

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actively part of our business model." So

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that people don't renew, you know, they

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don't they don't transfer it or blah

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blah blah, and we want them to auto

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renew at a lower rate. They're not going

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to say that. But if it happens, it

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happens and it's good for the annuity

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company.

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So, just remember, you know, here's the

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thing I would tell you. If [snorts] you

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had purchased MAS or any annuities for

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that matter, but MAS because we're

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talking about that from someone else,

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we'll become the agent of record on

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that. You know, you can just change the

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edge your record to us so so that it

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will never fall through the cracks. So

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it will never autorenew so that you

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don't have to keep up with it. That's

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important. I mean, do you really want to

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keep up with it? Do you want really want

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to track the dates? Why wouldn't you let

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us track the dates? Why wouldn't you let

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let the best staff, the biggest staff on

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the planet track it for you and be in

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touch 60 days prior trip maturing to ask

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you to say, "Hey, what do you want to

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do?"

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I think this is a big deal.

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I mean, this is the other I did one

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recently, a a video called never never

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annuititize your MA. Never turn it into

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a SPIA. Just shop for the best SPIA and

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then transfer your MIGA to the SPIA to

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get the highest contractual guarantees.

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Remember my mantra and what I do and

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what I live by is you own a new annuity

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for what it will do, not what it might

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do. And we're always looking for the

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highest contractual guarantees. No

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exceptions.

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So when your when your MA renews, if if

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the offer, which is going to happen, is

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going not going to be as high, don't let

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it autorenew into that.

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Work with us to transfer it. non-t

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taxable event doesn't trigger any taxes

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to a the highest paying MA for the

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duration that you want.

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Now, all MIGA companies are different.

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Some the auto renewal is just yeartoear

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or they keep it liquid at a low low

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interest rate. Some auto renew it for a

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period of time

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without I mean without you signing

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anything.

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That's why it's important that the agent

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of record, which should be us, on your

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MGA, which should be us,

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understands the game, understands the

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renewal rates, understand that they want

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it to autorenew at a lower rate, but

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they also understand that people like

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me, my staff is never going to let that

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happen. And my companies are okay with

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that. It's not like they're mad at me

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for that. If you play by the rules, you

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win.

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But the the rules also are if you don't

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contact us and I'm if I'm the annuity

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company, if you don't contact us, the

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annuity company, we're just going to

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auto renew it at the rate that we

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choose.

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Wow. How about that? I mean, these are

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some things that you need to know that

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most agent advisors don't know because

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they don't live and breathe annuities

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like I do. I mean, consider having us be

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the agent of record.

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We're the monster out here. We're the

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big ones out here. I'm the I'm the

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America's agent. I've been doing it for

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a long long time. And I do these videos

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as a consumer alert so that you do not

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get caught

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with it auto renew. And I had a the

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reason for this video is I had a person

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call me the other day. They had not

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purchased the the MIGA from me and they

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said, "Hey Stan, you know this this

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autorenewed at 2%.

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How is that possible when on your site I

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can get almost three times that amount?

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How's that even possible?" And I told

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him because it's ought to renewed and

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it's at their discretion on what they

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ought to renew it at.

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And you said, "Well, that's not fair.

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That's not right." Maybe, but it's it's

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it's the game. So, if that's the game,

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let's play the game. If that's the game,

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let's win the game. If that's the game,

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let's not let it autorenew.

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So, multi-year guarantee annuities, love

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them. We sell more than anybody. Go to

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my site theanuityman.com and pull the

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ones that are in your state, the highest

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ones. Give us a call. We'll take you

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across the finish line. If you want to

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own it, IRA, nonirra, Roth IRA, doesn't

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matter. But the true value, because MAS

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are commodity products, the true value

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of owning a MA is obviously the

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guaranteed interest rate, but you got to

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have the right people managing it. You

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got to have the right people overseeing

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it. You got to have the right people

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giving you a call at the time of m that

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matures to make sure it does not

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autorenew.

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Got it. Good. My name is Stan the

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annuity man. That's shooting it straight

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with Stan.

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See you next time.