Annuity Secure Act Impacts Not Being Disclosed at Point of Sale Originally, I intended to author this blog one year following the passage of the Secure Act but, out of fairness, decided to give the life insurance industry a little more time. Now, a full TWO years later, I think sufficient time has passed to assign the life insurance industry an “official” F grade. I’m not going to single out individual carriers…
Tag: Annuity
It’s Official: Ken Fisher Hates … Me! (A Fictional Conversation With Ken Fisher– Satire)
Several weeks ago, a feverish annuity agent/industry response was unleashed driven by the posting of the USA Today interview of Ken Fisher (KF), Founder, Executive Chairman and Co-Chief Investment Officer of Fisher Investments titled; “Why I still hate annuities: Here are the reasons these investments are bogus”, on LinkedIn. This was, yet again, another annuity attack in a long series of such attacks spanning many years. A long-time Ken Fisher…
Minors and the SPIA Moment of Truth- UTMAs & Blocked Accounts
I believe many annuity agents who enjoy working with SPIAs are missing out on a very large market dealing with minors simply because; they lack the training and carrier support. Many of the very meaningful SPIA cases I have written have been for minors. Excluding litigation annuity contracts (aka structured settlements) market, there is plenty of other commercial SPIA opportunity. First, you need to get the old annuity saw phrase; “guaranteed lifetime income”…
A Blast from The Past SPIA Protection Unintentional Consequences
Several years ago, the old Presidential Life Insurance Company, Nyack New York (Presidential), issued a SPIA with very unique variability which, I helped design. Of course, this was prior to the Athene Life and Annuity Company (Athene) purchase in 2013. Up until the Athene purchase, tens of millions of dollars of premium were accepted by Presidential for the “Income & Legacy”, the marketing name for the SPIA. As fate would…
SPIAs a Historical Perspective
It occurred to me after writing fixed lifetime SPIAs for more than 30 years; I achieved a 100% persistency rate (except for a few deaths) and every consumer purchase along the way has been the absolute deal of a lifetime. I mean, how many financial products have been in a bull market for more than 30 years? Interest rates have only trended down since the mid-to late 1980s and carriers have only…
“King William’s Tontine” by Moshe A. Milevsky A Life Insurance Industry – Shot Across the Bow!
Book Review – Moshe A. Milevsky, in a life insurance industry – shot across the bow, makes yet another ground breaking appeal since his landmark 2004 white paper on Advanced Life Delayed Annuities (ALDAs) that set the tone for the deferred income annuity (DIA) products we have today. The book re-evaluates how we think about lifetime income and what might make sense when it comes to “sharing” longevity risk among…
