Beware of Elder Annuity Abuse: Shootin' It Straight With Stan

In this episode, The Annuity Man discussed:  The Annuity PILL Upfront bonuses  Keep it short and simple Transferring your annuity to another company   Key Takeaways:  PILL stands for principal protection, income for life, legacy, and long-term care. When buying annuities, you should look for guarantees and not market growth or potential. Don't let anybody sell you an annuity for market growth.  Upfront bonuses are typically attached to index annuities, and it's being pitched to unsuspecting people as the annuity company giving them free money. There's no such thing; upfront bonuses are candy for the stupid.  Keep the maturity short. If an advisor is pitching you 10-year surrender charge products, for example, ask them if they have a five-year version. Keep it simple. Don't buy a product if you can't explain it to a nine-year-old. Make sure you understand exactly what you're contractually getting into.  If an agent approaches you or someone in your family who already has an annuity and wants you to transfer to a better annuity company, that's a semi-red flag. The receiving annuity company has to have a contractually guaranteed better deal for the person that's moving their annuity.    "Principal protection, income for life, legacy, and long-term care. In my world that I think the annuity industry should live in, those are the four things that annuities should be sold for, not market growth." —  Stan The Annuity Man.      Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: [email protected]  YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!