How Fast Can You Be Paid After Buying Immediate Annuity?

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So the question is, how fast can your income be paid after buying an immediate annuity?

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Hi there, my name is Stan the Annuity Man, America's annuity agent, licensed in all 50

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states, top independent agent in the country, and the founder of CGO, Contractual Guarantees

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Only approach to buying annuities. Go to my site at theannuityman.com, or you can email me

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direct at the address is [email protected]. We're going to talk about immediate annuities

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and how fast that lifetime income stream can be turned on after this.

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Alright, so, how fast can the income stream start after buying an immediate annuity?

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The rules are, and of course we follow the rules at the Annuity Man, it's 30 days after the policy

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is issued. So then the question is, how long does it take for the policy to be issued? And

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typically, I mean, that can be as soon as a week, as long as three weeks, mid-range two weeks,

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depending on how you're funding it. And you can fund it a myriad of ways. You could write

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a check to the annuity company. We're going to facilitate that. And before we get started on

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that, I have in my Las Vegas office a huge group called the Policy Delivery and Application Team.

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They're licensed in all 50 states. They are not on commission, and they are in place to help our

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clients facilitate these types of transfers and funding to the annuity companies. We do not touch

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the money. We facilitate that transfer or money going to the carrier. Then we make sure everything

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goes smoothly. We keep you up to date via email and calling, if needed, until it's across the

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finish line. And then once the policy is issued, it is sent to us to review for accuracy, and then

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we FedEx it to you. And then it's going to hit the bank account that you give us. All the information

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that you give us during the application process is confidential and destroyed. We do not keep any of

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that. It goes to the annuity company, who have the highest level of security you could ever imagine

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online. You're like, well, someone can hack it— North Korea. North Korea does not care about

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your life expectancy, okay? They really don't. So, you can transfer it from a 401(k), IRA,

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403(b), 457, those deferred plans. And that's a non-taxable event, going from IRA to an IRA

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established at the immediate annuity company, okay? You could do the same thing with a Roth

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IRA. If you've paid off the upfront taxes on a Roth IRA, you have money in a Roth IRA,

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you want tax-free income from that Roth IRA. And I say that, tax-free, because you've already

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paid a ton of taxes. But yeah, the income's coming tax-free. Again, Roth IRA to Roth IRA,

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non-taxable event, okay? If you're just writing a check or wiring money from a non-IRA account,

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what we call non-qualified. Someone said the other day, what's a non-qualified account? That's

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a good point. It's non-IRA is what it is. That's industry speak. Non-qualified is industry speak,

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which I try not to do. But you can either wire the money to the carrier, or you can write a check,

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and then we'll send you a FedEx to send it to the carrier. Once again, it's going

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to the annuity company. It's not coming to us. But here's how the process works. You say, "Okay,

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Stan, let's just start from the beginning. I'm interested in a single premium immediate

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annuity." Great. You can either go to my site, run the quotes yourself, or schedule a call,

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free consultation with my team, or email me, and I'll call you, okay? One of us is going to get to

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you. I still own the company. I take that back— my wife is co-owner, so it's kind of her company.

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But let's just say I'm not going to mention the carriers because we represent every carrier out

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there, alright? But let's just say XYZ carrier had the highest contractual guarantee for lifetime

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income. And on a side note, we're only going to look at A+ or better. We do not do anything less

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than that. A+ or better— you don't need a sweater, okay? A+ or better, you're good. You don't have to

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worry about it. A+ or better, they're not going out of business. A+ or better, do not worry.

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So, we decide on the A+ or A++ or whatever the company is. And you say,

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"That's the one I want." We will lock in that quote, okay? We will lock in that quote,

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the guarantee. So during that time period, whether you're writing a check, wiring the money,

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or transferring the money, okay? We're going to lock in that quote so that guarantee is in place.

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You can also do— let's just say you have an annuity that's kind of a deferred annuity.

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Let's say it's an index, variable, or MYGA. You can transfer that money to the immediate

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annuity company. That's a 1035 transfer if it's a non-IRA account. Once again, all these transfers

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I'm talking about are non-taxable events. It does not trigger any taxes. I go slow there

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because I want you to understand that. You can also take cash value from a life insurance policy

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and transfer that— 1035 transfer, non-taxable event— to the immediate annuity of your choice.

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Now, when I said one week, two weeks, three weeks, a lot of that depends on how we're doing that and

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the carriers that we're working with and the places that we're moving the money from. But my

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team— they're professional squeaky wheels, okay? Daily, daily, daily, they are talking to these

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companies. They're pushing that rope for you so you don't have to get on the phone. We do all of

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that for you. If we have to get you on the phone, it's an anomaly. But we are doing 99% of that work

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and just keeping you updated. It's very turnkey. It's very pro-customer. It's very proactive from a

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communication standpoint. That just comes from me, man. I do not like being in the dark. I want to

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know what's happening, especially with my money. But understand, it's going from you or wherever

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the money is located, whether it's Fidelity, Vanguard, Schwab, Merrill Lynch, whoever, Morgan

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Stanley, going there to the annuity company. It never goes to us. It goes straight,

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okay? And we just facilitate all of that for you. So, in a perfect world that I live in, right?

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In a perfect world that I live in, I would say from start to finish, quickest would be 45 days.

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I mean, I really would. I would just look at that. But if you are rational and understand employees

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at companies sometimes don't have the passion that I do— you know, I'm not talking about my team. They

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better have passion. They ain't going to be at the Annuity Man too much longer. I

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said this might not be the place for you if you're not willing to work hard for my clients, okay? But

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I have a good, good team in place. They've really laid it on the line, and they're all licensed.

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But I would say if you just went from 45 to 60, 45 being panacea,

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that's how quick it's going to start. And then after that, it's like ripping the knob off a

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water faucet. Water's coming. In this case, it's lifetime income. And hopefully we have had the

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discussions with you about structuring, whether it's single life, joint life, installment refund,

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cash refund, life only, period certain— whatever those are. And there's a lot of ways to structure

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single premium immediate annuities for immediate income. We're going to have those conversations.

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We're going to explain it to you. You're going to fully understand it. You're going to be able

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to explain it to not only your spouse but your beneficiaries. Then we'll take it from there.

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We'll take it across the finish line for you. And then you're going to have access online

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to the carrier. Not that you need it for lifetime income. But if you ever wanted to change, what bank

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account the money's hitting at? Call us, let us do that for you. Let us run toward those bullets

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for you and get that done administratively. So, it's pretty turnkey, but we make it simple,

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and we make it pain-free with the team, the Policy Delivery and Application Team I have in place.

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Do me a favor. There's a video that's going to appear above my head after the little spinning

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wheel and the clock counts down on lifetime income, and it really applies to single premium

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immediate annuities. But I talk to you about how it's priced. It's not interest rate-based;

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it's life expectancy-based primarily. But I go into more depth about how it works. I

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encourage you to go to my site, theannuityman.com. I also have written an owner's manual on immediate

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annuities that you can download for free. It's about 60 pages. It explains it from soup to nuts,

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with all kinds of frequently asked questions at the back of the book. That's yours for free.

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And if you want a hat, you can send me an email and convince me why— [email protected].

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See you next time.