How Artificial Intelligence Will Affect Annuities

0:00
Hi there, Stan the Annuity Man, America's annuity agent licensed in all 50 states

0:04
and Puerto Rico. Today's topic is a timely one. At the time of this taping,

0:10
I'm the only pioneer taking the arrows to even talk about this because it is, as they say

0:17
uncharted waters— blue water, as Magellan might have said as he's coming across here,

0:24
okay, to find the United States. The topic is how artificial intelligence will affect— not might,

0:32
will affect— annuities, the industry, pretty soon. How's that going to happen,

0:38
and what is going to happen? I'm going to cover that in detail, as only I can, after this.

0:52
So, artificial intelligence— what a controversial topic for a lot of people. There's good,

0:59
there's bad. Who the heck knows what's going to happen down the road? But not being

1:04
political— I'm contractual. I'm only looking at how it's going to affect the contractual

1:09
guarantees of annuities. The rest of it, we'll just see what happens. Am I disturbed that,

1:15
you know, it's taking over Spotify and I don't know if it's a real person singing,

1:19
artificial intelligence has taken over the music industry or books, whatever, okay? That's going to

1:25
sort itself out. But for people like you, they're looking at chapter 2 of their retirement,

1:31
and chapter 2 is all about you. Chapter 2 is about lifestyle. Chapter 2 is primarily

1:35
about principal protection and lifetime income. Artificial intelligence is going to play a major

1:41
role. And this is how artificial intelligence right now is shortening— shortening that time— for

1:48
medical breakthroughs. I read an article the other day about what artificial intelligence

1:53
is doing to lengthen the lives of people that get pancreatic cancer. Now, if you've watched

2:00
recent videos, at the time of this taping, Ben Sasse was a senator from

2:05
Nebraska. He was president of the University of Florida. He has fourth-stage pancreatic cancer.

2:10
When that happens, it's a wrap, as they say in the movie Business. You know, you need to

2:14
hug your loved ones and pack your bags, right, if you think you're going somewhere.

2:19
But what's happened with AI is they're making huge breakthroughs with pancreatic cancer,

2:26
of all things. So, what does that mean? What that means is life expectancies— your life expectancy

2:32
tables— are going to change against you, meaning that artificial intelligence is going to prove

2:38
that you're going to potentially live longer. What does that mean to the life insurance company that

2:43
issues lifetime income products for annuities? And by the way, those lifetime income products

2:48
are income riders attached to index annuities, RILAs, variable annuities. So the income rider

2:53
is the contractual guarantee for lifetime income. Then you have single premium immediate annuities,

2:58
deferred income annuities, and qualified longevity annuity contracts. All of those are transfer of

3:03
risk. Life insurance companies issue those annuities. You transfer the risk to those

3:08
companies to pay for as long as you're breathing and/or on a respirator. So you say, "What if I

3:14
lived 125?" It's going to pay. "What if I lived 150?" It's going to pay. "What if artificial

3:19
intelligence makes us live in perpetuity?" Well, what I'm going to tell you is you better choose

3:24
a good lifetime income company to back up those payments. And my saying is, A+ or better, don't

3:31
need a sweater. So, we're A+ or better— A+, A++ for lifetime income. But that artificial intelligence

3:39
is going to have a big effect on life expectancy tables. And you're starting to see

3:46
articles being trickled out. And my conspiracy theory is by the annuity industry that talks about

3:52
AI making us live longer. Okay? Now, all the annuity companies want is to prove that so that

4:00
they can then offer those life expectancy tables to predict that you're going to live longer, which

4:05
means those payments will be lower. I guess, in a contrarian thought, if you're like an investor,

4:12
do you invest in life insurance companies? I don't do that anymore, but boy, it's a thought, right?

4:19
Now, the other thing in combination with artificial intelligence— and I'm just talking

4:23
about the medical breakthroughs— I think there's going to be a lot more to that, but these GLP-1s,

4:30
which are the stab-yourself drugs, okay? This is a great stat. Just hang in there with

4:39
me, I know what I'm doing here, I'm going to bring it all back. When iPhones were first introduced,

4:45
you know, you think back to that and go, man, people just gravitated toward that. I mean,

4:50
everyone bought an iPhone or all that stuff. The example is crazy. GLP-1s, when they were

4:56
first introduced— and we're not talking about scroll, we're talking about stab-yourself,

5:01
okay? More people adopted GLP-1s in the time frame that was looked at as opposed to iPhones.

5:10
And now GLP-1s are in pill form. So, as they say again in the movie Business, that's a wrap. Over

5:17
20% of people— households in this country at the time of this taping— are on some form of GLP-1s,

5:24
micro-dose pills, whatever. Why are you talking about that, Stan? I thought you were talking about

5:28
artificial intelligence. Because this is all part of it, okay? GLP-1s are going to make

5:35
people skinnier, which I guess is going to make them live longer. I mean, there's all kinds of

5:40
issues with GLP-1s. The crazy part about them being adopted so quickly— there weren't many

5:47
studies on that that I can find. But people— hey, people that are morbidly obese or overweight— and

5:54
I think 40% of the country, I read the other day, is morbidly obese. I don't know how they judge

5:59
that. I guess that's 40, 50 pounds overweight. That's a lot of people. If you don't believe me,

6:02
get on a plane and sit in first class, of course, 'cause, you know, fly first class,

6:07
your kids will— and then watch the people go into coach like I do. Wow. I'm always thinking,

6:13
how are we going to— how's this plane— how are we going to take off? How's that going to work?

6:19
Because I don't understand that either. On a side note, I saw a study on this as well. Because

6:25
people are losing weight, which means they get on the plane and you go, they're not as fat as

6:28
they used to be. That means the planes are going to use less fuel, which means they're

6:34
going to be more profitable. Now, at the time of this taping, we're in a little bit of conflict

6:38
overseas on some oil stuff, but, you know, that's temporary. And I'm not going to date this video

6:45
because the key point is artificial intelligence. There are some good things. I think artificial

6:52
intelligence for medical breakthroughs is going to be incredible. I read another story the other

6:58
day— I'm obsessed with this, as you can tell— that in five years from the time of this taping, the

7:06
prediction is that the vast majority of surgeries will be done robotically— AI— and not human. And we

7:14
can have our arguments about that, good or bad, but it's happening. It's happening. All

7:22
the life insurance companies care about is— they're for-profit, okay? Number one, they're for-profit,

7:29
and they're all about contractual guarantees. And when it comes to life expectancy, interest

7:33
rates don't drive the train— it's life expectancy. If it's joint life, it's life expectancies. So

7:39
don't go, "Well, I'm waiting on the Fed, and then I'm going to buy that lifetime income annuity."

7:43
That's like going to the car dealership and going, "Show me your best car that has the

7:48
best stereo system." It's that idiotic, okay? So artificial intelligence is going to have a

7:55
major role. Now you're out there saying, "Okay, great, Stan the Annuity Man— when's it going to happen?" If I

8:01
knew that, I wouldn't be on video. I'd be on the Learjet trading futures because I knew that. But

8:07
I do know it's going to happen quicker than I can probably predict. I'm saying two to five years.

8:12
In five years, definitely it's going to happen. But it could happen even sooner than that because

8:19
we're all reading the articles— how fast artificial intelligence is training itself to be better.

8:29
Doesn't matter. You know, at the end of your day, at the end of my day, it's all about living

8:35
for the day. You know, there's three phases of retirement that I always point to: go-go, slow-go,

8:44
and no-go. Go-go is you're feeling pretty good. You know, there's some knee issues that hurt and

8:50
that type of thing, but you can still move around, you're hitting on all cylinders— that's go-go.

8:55
Slow-go is you actually yourself are realizing you're not hitting on all cylinders, and you're

9:02
not as mobile as you used to be. And then no-go is the full-circle moment. As I've always said,

9:08
we start life drooling on ourselves and crapping on ourselves. No-go is you're drooling on yourself

9:17
and crapping on yourself, okay? If you live that long. So those are the phases of retirement.

9:25
Can you time, you know, when you should buy lifetime income to combat

9:31
the eventuality of artificial intelligence lengthening out your life expectancies,

9:36
which then will lower the payments? No. But I will tell you right now— and this is not a sales pitch,

9:42
player, this is reality— lifetime income guarantees right now, if you lock them in today's life

9:49
expectancy tables, are a bargain. Ten years from now, five years from now, seven years from now,

9:57
the thank-you cards are going to flow in to me, thanking me for telling you that, because the

10:05
guarantees will be completely different. I can't wait for those emails and calls going, "Well,

10:10
you know, I was going to buy an immediate annuity about five, six years ago. I kept that quote from

10:14
your site, Stan, and I want to go ahead with that one." Doesn't work like that, player. Quotes are

10:19
like a gallon of milk. They change every seven to ten days. We can lock them in for you. My

10:24
team will take it across the finish line. Lifetime income can be used in Roth IRAs, traditional IRAs,

10:32
non-IRA. The guarantees are the same— just the taxation coming out of it. I encourage you to

10:37
go to my site at theannuityman.com, and you can run quotes on all four of those lifetime income

10:45
guaranteed products— Income Riders, QLACs, SPIAs, and DIAs. And they're customized. You can print

10:50
them off. We're going to send you an email with all of the quotes. We're quoting all carriers

10:55
for the highest contractual guarantee. Only one rule for lifetime income— because we're going to

10:59
marry that company for life— it's got to be A+ or better. So A+ or better for lifetime income.

11:05
But artificial intelligence is going to change the game pretty much with all industries. We're

11:13
seeing it right now with middle management just being wiped clean. And I know the

11:18
workers that use their hands out there— your jobs are pretty safe, you know? If someone said,

11:25
"What do you think kids should do?" Well, electrical, plumbing, construction, you know,

11:29
anything you're using your hands for, you're going to be a really high-paid

11:34
commodity, coming forward. It's that middle management you see every day that, you know,

11:41
Amazon's laying somebody off or Google's laying somebody off. Nothing slight against them. But

11:46
they figured out that artificial intelligence can make them more money because they don't

11:50
need as many people. The life insurance company, I'm assuming, is going to try to do that as well

11:56
with staff. I hope not, because it's still— in the annuity industry and in our office— AI

12:01
means actual individuals because we need to be talking to you to get the paperwork across the

12:06
finish line. My home office in Las Vegas, where everyone there is licensed— but they're not on

12:10
commission— that's what we do every single day. But artificial intelligence is going to change

12:15
the life expectancy tables, and it's going to change them against you to predict that

12:20
you're going to live longer, which means the payments will be projected to be more,

12:24
which means the payments will be lower. That's a fact. I'm the only one out here talking about it

12:32
because pioneers take all the arrows, as they say. But I see it— it's in front of us. I can't believe

12:38
I'm the only one out here talking about it, but it's something to put in the back of your head.

12:43
If you want to speak with me personally, one-on-one, you can do that, schedule permitting,

12:48
you can email me, [email protected]. [email protected], I will reply to you

12:55
and then send you my schedule link so we can speak about this one-on-one. But I am accessible,

13:02
even though we have a quadrillion clients and the gorilla in the room. My wife and I still

13:07
own the company at the time of this taping. We're very proud of that. It's grown to this

13:10
big behemoth— gorilla in the room. Yes, we are the annuity gorilla in the room, but we're proud of

13:16
that because we only look at the contractual guarantees of the policy, owner policy—

13:20
what it will do, not what it might do. So, artificial intelligence— it's coming,

13:26
and it's coming for the annuity industry. It can be good news for you if you want to

13:30
lock those guarantees in right now. My name is Stan the Annuity Man. See you next time.