Let's talk about Annuities | Annuities Explained
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- Опубликовано: 13 сен 2024
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Let's finally talk about annuities. On this channel we focus a lot on using life insurance as a tool in your retirement tool kit. We're often asked to explained how annuities can be used too. Let's dive in.
Annuities can be complicated and there are tons of different types, from fixed index annuities to variable annuities. They all serve a different purpose (many are use din retirement planning for safe money alternatives).
This video is about annuity basics and will serve as the basis for an entire annuity review series.
Part 1: • Whole Life vs Indexed ...
Key Points:
Expanding Our Focus: While the channel typically discusses cash value life insurance, today's topic shifts towards annuities due to the current interest rate environment. It's an opportunity to explore other financial products that haven't been much discussed here.
Addressing Annuity Misconceptions: Annuities often receive negative feedback, mainly because of the common belief that they convert a large sum of money into a small, fixed monthly income. This perspective ignores the variety and adaptability of annuity products beyond the immediate, lump-sum exchange model.
Variety in Annuity Products: The discussion highlights that the idea of trading a lump sum for a monthly income (known as an immediate annuity) represents just one option among many in the annuity world. Modern annuities offer more flexibility and options than this traditional view suggests.
Accumulation Annuities Overview: The conversation introduces accumulation annuities, which are designed for asset growth with safety measures against market downturns, rather than generating immediate income. This type of annuity is about growing investments securely, a stark contrast to the immediate annuity model.
Annuity Types and Their Uses: The video plans to delve into the various types of annuities, explaining how they differ from the often misunderstood immediate annuity model. This includes accumulation annuities for safe asset growth and other types designed for generating income streams, highlighting the importance of understanding each to find the best fit for individual financial goals.
This summary aims to clear up common misunderstandings about annuities, showing that they can be a versatile and valuable part of a well-rounded financial plan, not just a simple trade-off of assets for fixed income.
In the economic/rate environment we are currently in, do you believe that annuities will grow drastically in popularity? The rates on some of these fixed annuities are the highest in decades. Would it not be ideal to lock in at least some gains in a portfolio in an annuity?
Absolutely...for many folks!
There are riders where if the annuity does pay out the initial money they return the rest to a beneficiary
Hi! I'm glad to find you, I would like to find you sooner though... I've got a policy which I'm paying monthly with this company: StateTrust Life & Annuities... I was kind of naive at that point, I would like to know what do you think about!. Thank you and keep going on with the channel, people deffinitively need this kind of content.
Regards
Send it in to our team and we will take a look. www.leveragedwm.com/iul-review
Thanks for reaching out! It's great that you're proactive about your financial decisions. you should have some trusted advisor or an insurance broker to take a look at your policy from StateTrust Life & Annuities. Understanding the specifics of your policy will help determine if it aligns with your current financial goals. Feel free to share more details, and then discuss how to optimize your strategy moving forward. Have you noticed any particular concerns or benefits with your current policy?
SPIA for a set term is best visualized as a loan you are funding the insurance or banking entities. (The math is very similar except for amortizations.)
As if the insurance company asked you for a loan to buy a new road sign. You would loan them the money (say $50k) in the same way as if you had taken a $50k car loan from them. (Cash principal and interest flow is just reversed.) The payment and the math are the same for the most part.
Think of a CD (certificate of deposit) where you get the principal back at the end of the term.
In an SPIA annuity, you begin to receive the principal back along with the interest payments. (Like a loan.)
Great analogy! It's always helpful to break down financial concepts into relatable terms. An SPIA can indeed function like a loan in reverse. Out of curiosity, have you found this perspective helps your clients better understand annuities? What other analogies have you found useful in explaining complex financial products?
What you say about New York Life annuities
What's your opinion on Nationwide's New Height Select Annuity series ?
Thanks for the comment - we will add this one to the list and do a review soon!
I need help to enroll in IUL.
reach out to us, we'd love to help! call, email, whatever is easier!
book a meeting: leveragedwm.com/bookmeeting/
I'm so confused 😕
Reach out to us, we'd love to help!
Oh Oh I know I know......3 years ZERO% gain
can you elaborate more, abt that 3 years Zero% gain?
@@StressLessFinancial
Nationwide 12 year contract.
First 3 years 4% and 8% (two contracts) (JP Morgan / Zebra)
Last 3 year ended in June. .05% and ZERO%
To me there is no difference between Vegas and Nationwide. Vegas here are thousands of slot machines. Select which one wins.
Nationwide - Here are 12 Indexed annuities. Give us your lump sum pension and guess which Index will give you a return...
In the annuity world Nationwide is the House. House always wins.