Similar authors to follow
Manage your follows
About Stan G. Haithcock
Stan The Annuity Man is one of the country’s leading Independent Annuity Agents. He is nationally recognized as an annuity critic and expert, and has been called one of the most outspoken consumer advocates for annuities. Stan is the most read and most controversial annuity commentator in the country, and his new book The Annuity Stanifesto has quickly become the go-to-resource for all things annuity.
Stan The Annuity Man is known for being brutally factual, and his in-your-face honesty about the controversial subject of annuities has set him apart not only as an advisor, but has also made Stan one of the most sought after keynote speakers and consultants on this topic in the financial industry.
With over 20 years of experience in the financial services industry, he has developed unique proprietary and trademarked annuity strategies that have been adopted throughout the annuity industry. In addition to Marketwatch, Stan is a regular contributor to numerous national outlets including About.com, Retirement Weekly, and has appeared on FoxBusiness and TheStreet.com, just to name a few.
Find out more at: http://www.stantheannuityman.com
Customers Also Bought Items By
In the wild wild west of unregulated annuity sales pitches for one size fits all high commission products like indexed and variable annuities, most agents all but ignore SPIAs. This is a tragic advisor mistake, because Single Premium Immediate Annuities are still the best and most efficient solution for “income now” needs.
SPIAs easily fall under the category of “an oldie, but a goodie” because they are easy to understand, transparent, and simplistically efficient. Complex annuity types will continue to come and go, but SPIAs will always be the foundation of the annuity category.
Lifetime income. Risk Transfer. Contractual Guarantees. Single Premium Immediate Annuities. SPIAs!
Multi Year Guarantee Annuities (MYGAs) are also called Fixed Rate Annuities because that is exactly what the product does. It provides a fixed rate. MYGAs contractually guarantee an annual percentage for a specific period of time.
MYGAs can be easily compared to CDs because they function and are structured almost the same. The main difference is that when used in a non-IRA (i.e. non-qualified) account, the annual interest grows and compounds tax deferred with a MYGA. With CDs used in a non-IRA account, taxes are paid annually on interest earned.
So if you are not familiar with Multi Year Guarantee Annuities (MYGAs), then it’s time to get educated. In my world of owning an annuity for what it “Will do. Not Might Do,” MYGAs are pure contractual guarantees and are a simplistic transfer of risk solution that can easily fit in most fixed income portfolios.
DIAs are the future of the annuity industry because they are simple, efficient, and easy to understand transfer of risk strategies that solve for future income needs. In combination with Qualified Longevity Annuity Contracts (QLACs), which is another form of a DIA, the Deferred Income Annuity product will eventually be the top selling product type in the annuity industry. Regardless of what the agent wants to sell or the carrier wants them to push, the annuity consumer will demand DIAs over more complex offerings. This ‘Owner’s Manual’ is dedicated solely to the Deferred Income Annuity strategy. I cover every aspect of the product, and after reading this, you will have a very good understanding of DIAs and if this product could complement your specific situation.