Which Annuity Lifetime Income Best Fits Your Life?

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Hi there, Stan the Annuity Man,

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America's annuity agent,

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licensed in all 50 states. Today's topic

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is which annuity lifetime income

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best fits your life. Now, there's

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there's numerous different types of

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annuities that provide lifetime income.

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The four primary ones are single premium

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immediate annuities, deferred income

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annuities, qualified longevity annuity

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contracts and income writers that are

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attached typically typically to either a

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variable or indexed annuity. They ride

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on top of the policy, but the income

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writer is the contractual guarantee.

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Those are the four primary ways to

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create lifetime income. when and and the

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distinction there is for as long as you

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are [gasps]

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[clears throat] breathing

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or for as long as you and your spouse or

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the joint participant is breathing. You

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can set up joint. So how do you find the

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best one? First of all, there is no best

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like product or carrier. The best is for

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your specific situation. So it's

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customized. So let's just go through the

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two questions that we always ask people.

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Um, and that if you set an appointment

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with us to talk to one of my team

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members, you're going to have to answer

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two questions. The first one is, what do

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you want the money to contractually do?

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Okay, what do you want the money to

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contractually do? If you say lifetime

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income, great. Second question, when do

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you want those contractual guarantees to

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start? In essence, when do you want that

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lifetime income to start? That second

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question will determine the type of

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annuity that fits. So, let's go through

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some scenarios. What do you want the

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money to contractually do? Lifetime

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income. When do you want it to start?

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Immediately. That's a single premium

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immediate annuity. No moving parts, no

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annual fees, no market attachments. It's

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a straight transfer risk based on your

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life expectancy or life expecties. And

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just remember this, we can we can

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structure it so that 100% of any unused

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money if you die early goes to your list

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of beneficiaries on the contract, not

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the evil annuity company. A lot of

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people go, "I don't want an annuity cuz

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when I die, money goes poof." Well, you

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can structure it that way if you hate

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your family, and that's okay. Some

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families aren't nice. You can do that,

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but you don't have to do that. What I'm

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saying, you can get the lifetime income

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guarantee and build in a structure, cash

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refund, installment refund, period,

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certain, whatever. So that money money

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is not going to go to the insurance

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company. They're on the hook to pay as

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long as you're breathing. So, let's go

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back to the two questions. What do you

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want the money to contractually do? I

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want income to start in three years. Um,

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you that's the second part of the

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question. Okay, great. Now we're down to

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deferred income annuities. We're talking

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about nonirra money. Def and you can use

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IRA money, too. Deferred income

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annuities and income writers, two

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different products. You can go to our

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site and quote immediate annuities,

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deferred income annuities, QAX, income

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writers. And those are just two

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strategies that both provide lifetime

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income that will both show the exact

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dollar amount starting in that year

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three based on that question. Okay. um

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and and you'll then our team can explain

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to you the difference between the two or

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you can go to my site and download the

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owner's manuals that I've written on

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those two strategies. Let's go back to

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the questions. What do you want the

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money to contractual do? Lifetime

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income, when you want it to start, um

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seven years. Okay, once again, we're

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down to two two products, deferred

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income annuities and lifetime income

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writers. And again, we'll quote all of

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those for you. But what if you say,

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"Stan, I want I want um to use IRA money

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deferring long-term u deferring income."

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Well, there's there's something called a

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qualified longevity annuity contract

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that you can use IRA funds. Rules change

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a lot. You can go to my site and look at

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the current rules that are in place. But

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the amount of money that you use with a

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qualified longevity annuity contract is

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not part of your RMD calculations.

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That's not why you should buy it. You

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should be buying it for lifetime income.

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and you can attach your spouse as a

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joint lifetime income participant for

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that income later. So, let's, you know,

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don't be a tater. It's all about income

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later. Um, uh, you know, I talked about

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that in a previous in a in a in a

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previous video. This is which which one

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of those income later solutions, which

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one of those lifetime income solutions

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best for you? Okay, I have all these

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sayings that I always come up with. It's

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cuz I'm having fun with this. What I

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want you to walk away with, there's not

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a best one or a best carrier or a best

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strategy or a best specific product

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type. The best is based upon how you

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want to structure it, based upon when

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you want the lifetime income to start.

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We can then quote that specific product

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that fits your goal and then look at the

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best contractual guarantees for your

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specific situation. And just understand

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with immediate annuities and deferred

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income annuities, qualified longevity

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annuity contracts, there's different

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ways that you can structure it. Life

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only, life with period certain, life

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with cash refund, life with installment

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refund, joint life with all of those.

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Okay, you can do that. Income writers

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are pretty

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not one sizefits-all, but they there's

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not there's not the period certain and

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all that. They all have a return of

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premium of the money that you don't use.

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So, you know, I always tell people don't

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don't be a tater. it's about income

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later, you know, forget about the Dow,

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it's about income now. And then this

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topic, which is which which lifetime

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income product or which which lifetime

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income strategy is best for your

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situation? It really comes down to those

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two questions. Remember, what do you

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want the money to contractually do? In

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this case, it's income. When do you want

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those contractual guarantees to start?

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That answer to the second question will

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lead us to where we need to go quote.

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And then you'll schedule a call with my

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team at the annuity man. will explain

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those quotes and then leave you alone to

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make your decision on your terms and on

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your time frame. My name is Stan the

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Annuity Man. See you next time.