Why are income riders paying more than Deferred Income Annuities?
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- Опубликовано: 27 авг 2024
- Interesting topic today and this comes directly from my interactions with people on the phone.
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Key Moments in this Episode
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1:45 Two Types of Annuity Strategies to Quote
3:45 Income Riders Right Now
4:39 Income Riders vs. Deferred Income Annuities
6:18 Two Separate Calculations
8:28 Run your own quotes!
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You said "contractual guarantee" 26 times! Good job, Stan! I'm always a fan!
You must now wear the contractual swag, lol
I'm not planning on buying into an annuity product for at least another 5 years, but watching these videos *really* helps me understand what the different products are and how they work. Even though retirement is still a few years out, this is still a good time to get familiar with many (if not all) of the products and how they work. If I were closer to retirement, and looking at this stuff with little time to spare, my brain would be swirling so bad right now.
Stan, you have the best information in your videos!
Thank you!
Thanks for the information. This is what I needed to understand.
Glad it was helpful!
Perhaps I missed something. From what I recall learning about (from your videos and books), Fixed-Index Annuities - which is the only type that I recall as having income riders, always sounded great EXCEPT the point that they can, at will, typically reviewable by the issuing company, change their parameters as to how they calculate, i.e, spreads, caps, etc. even though from the end user's side, they have no recourse. So, when you say "contractual guarantee' as far as income riders, how is it guaranteed with that in mind? Or is it a different annuity type?
The income rider value is a separate calculation and is guaranteed at issue. The accumulation/account value of a Fixed Indexed Annuity gets its interest credits from the indexes and those parameters can change. I hope this helps.
Pete, I struggled with that as well and here's my take on it. The FIA with Income Rider (GLWB) has two sides to it. There's the account value side and the benefit base side. The account value is the part that gets credited interest that is subject to change by the insurance company. That value is what is used for death benefit, exchanges, etc. but IS NOT used for calculating the Income Rider payments. The benefit base is what is used to calculate the guaranteed Income Rider payment when you activate the rider. So, in effect, the FIA with Income Rider acts like two things - a guaranteed payment part that (when you activate the Income Rider) acts like a DIA/SPIA, and the indexed annuity part that gets the interest credits. Since Stan works in the "contractually guaranteed" world, the Income Rider part gets the focus (as it should, IMO). As I see it, the advantage of the Income Rider has over a DIA/SPIA is that you don't have to specify the income start date when you buy it. They will show you the income payments for each starting age and you can decide later.
@@garya2223 Oh, that's interesting information, thanks, Gary! I suppose I never really understood how the account side and benefit side worked. I always thought the FIA sounded pretty great - except for the part about that the company can change the variables any time after the initial period. I also haven't reached the point where I'm good with, once you turn on the IR, you can't stop/pause it (same with SPIA/DIA). In my Lil noggin, I still think I like options/control more right now,
I just bought a deferred index annuity.. I like the idea of fixed index annuities. I have another one that is set up on 5 years too!
Stan The Annuity Man, Thank You for all the RUclips Videos..I counted 5 Just the word Contractual & 28 Contractual Guarantee for a total of 32. thank you for the books I have enjoy the read..
Thanks for all the info on RUclips and in the booklets you sent me.
Your ….can you miss the next big thing video describes me perfectly.
I’m ready to schedule a call to you.
I look forward to talking to you.
26 = "contractual guarantee'
why aren't income riders available on Def Inc Ann... only Fixed Index ?
Deferred Income Annuities are designed to guarantee future income. Are you asking why income riders are only on Fixed Indexed Annuities?
If you do a deferred annuity, do you lock in the rate now or when the actual payments start?
Right then and there.
If you are talking about a Deferred Income Annuity, the income is locked at issue of the policy.
Contractual guarantees 22 times
Hey Stan...for some reason the volume is really low on this video...
I'm sorry you were having issues. I just tested it and I'm not seeing a difference between this one and other videos.
@@StanTheAnnuityMan It is probably my hearing getting worse...thanks Stan!!
I counted 24 times that you literally said "Contractual Guarantee".