Apr 13, 2008
On right now (7PM start) on NBC. Not good for indexed annuity folks.
I don't think I would be doing any seminars or indexed annuities anytime soon. Just the beginning for all annuities in general. I think it is a joke but unfortunately the people running dateline NBC don't know much about annuities.
I personally don't sell EIA's but I don't believe they are always a bad product
And seniors watch Dateline like Matlock reruns - this will absolutely take a bit out of sales.
Why do they just take a "bit", is it because so many of them have dentures.
It could have been a whole lot worse. I could have told them about some agents to tape that would have been a ton worse. I think the industry got off light. Maybe now some of DOI and AG will go after some of these jokers, the real bad culprits are the guys doing living trust seminars, then selling annuities. There are so many of these guys out there they are like roaches, hard to kill them.
Actually, it wasn't that bad. These agents definetly should have been up front about the charges. Who the hell sells a 16yr annuity to a senior anyway with 20% surrender? Why didn't they show the good annuities for seniors?
It is definetly unethical to have mags and books that are ghost written with your name on it. Fools! The stories were definetly one sided though. Every example they used was with the 1st year surrender charge. RIDICULOUS!!!
You won't hear it from the insurance companies naturally, but there are very few situations where a deferred annuity is an appropriate product for anyone, not just seniors. It's kinda like whole life...
Immediate annuities are an entirely different story.
What happened to Wheel of Fortune?
Yellow tabloid journalism. That crew need to apply for a job with the National Enquirer, that seems about their speed. The state attorney general was about as good, Quote "He did say the sliding scale, but very quick", then at the end of the show they mention that the guys' usual three hour presentation had to be condensed into 45 minutes.
They should have stuck to busting poufters.
I run into situations all the time where a deferred annuity is good for seniors.
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