November 2, 2016
I recently attended an advisor conference on Chicago that included a wide variety of agents and financial advisors: independent advisors (such as myself,) representatives from wall street and agents representing various insurance companies.
As one of the speakers, I wanted to find out from these different folks their feelings on a relatively new financial product called a “fixed-indexed annuity.”
So, before I began to speak, I literally went from table to table and asked this simple question: What do you think of fixed-indexed annuities and do you offer them to your clients?
You would have thought I just asked these advisors their opinion of Bernie Madoff! The reaction I received from most people was, “I never use fixed-indexed annuities,” or, “They’re too complicated,” and finally, some responded simply, “I don’t sell them because my company doesn’t allow me to.”
I have found these products to be very safe and secure. In fact, since 9/11, I’ve personally secured over 2,000 of them for my clients. That’s because fixed-indexed annuities avoid stock market losses, the fees are low or next to nothing, and finally, if you understand them, they’re not that complicated.
Of course, annuities are great for retirement since they are the only investment that can guarantee an income you can never outlive.