Annuities Are Contractual Commodities: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:

• Owning an annuity for what it will do

• Annuities are a commodity product

• Don’t swallow the pitch

Key Takeaways:

• You should own an annuity for what it will do, not what it might do. When you strip down annuities to the contractual guarantees, only then will it become commoditized.

• Annuities should be quoted from multiple carriers to get the most favorable contractual guarantee for the client. That’s the way it should be. Take note that quotes often change as carriers adjust their bid.

• Annuities that adjust for inflation are structured where the insurance company lowers the payment to make up for the potential increase. Don’t be swayed by sales pitches. Focus on the guarantees.

"Once we strip it down to the contractual guarantees, then they're immediately commoditized for us to then go quote for the highest contractual guaranteed number. That's how simple this is. That's how simple the annuity industry could make this." — Stan The Annuity Man.

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