Equity Index Annuity the best ?

[dannysdad]

You certainly put yourself on a pedestal. You have no idea how I conduct business and what I have told my customers. You have ascertained I am a liar, thief and scoundrel from a simple conversation. You assume that there is no place for the products I sell and that you are the only one entitled to an opinion. Billions of dollars are sold each year in the same products I choose to sell. I explained why they are suitable to those I sell them to and I also explained that I sell a variety of annuities. This particular discussion was about FIA's which you obviously think are not a good product. We disagree, but you could not contain yourself without making your typical personal attacks.


As I said, I meet with all of my clients each year and explain the Indexing Strategies and the choices they have. Because of their fear of the markets and economic uncertainty they generally choose to remain in the Fixed Account. I don't know how to explain it to you so you understand that I do educate my customers, but their choice is typically not to move out of the Fixed Account. Am I doing a poor job by not trying to get them to move into a Fixed Strategy? It is my job to inform them, not coerce them, but they understand they have the choice which is something they do not have in a Fixed Interest Only Annuity.

I sincerely doubt any of my customers would choose to work with or trust an arrogant and pompous ass such as yourself, but give it a shot if you would like.
- - - - - - - - - - - - - - - - - -



Exactly P. FIA's offer strategic choices, FA's, don't, but at the end of the day they are a Savings Vehicle, not an investment.

I just can't figure out why you would use a FIA over a FA, if you're not going to use the FIA for what it was intended for and the client will make less money. I don't doubt that you explain things to your clients. I'd bet anything you wouldn't do it with a regulator in the room, though.

If you come here and admit to doing things that are so blatantly out of line, don't be so shocked that you are called on it.

Also, it's funny that Al3 chimes in. I called him out on giving investment advice on his website and he has removed that material from the site. He should be thanking me for keeping him out of trouble and you should be thankful, too.
- - - - - - - - - - - - - - - - - -

Which fixed product has over 7% for ten years?

Figure it out for yourself, rookie.

 

[patch36]

You have selective memory and preconceived ideas. I do what I do for the right reasons, I sell the right products to the right people after a careful analysis of their situation, and I don't need to justify myself to you. Based on our short and very general discussion you have ignored the totality of my statements, taken what I have said out of context and decided to paint me with your broad brush. I hope we can agree to disagree.
- - - - - - - - - - - - - - - - - -

Which fixed product has over 7% for ten years?

Creative math, compounding, and wishful thinking. It isn't a guaranteed rate.

 

[dannysdad]

You have selective memory and preconceived ideas. I do what I do for the right reasons, I sell the right products to the right people after a careful analysis of their situation, and I don't need to justify myself to you. Based on our short and very general discussion you have ignored the totality of my statements, taken what I have said out of context and decided to paint me with your broad brush. I hope we can agree to disagree.
- - - - - - - - - - - - - - - - - -


Creative math, compounding, and wishful thinking. It isn't a guaranteed rate.

Patch, first, I used the 7% number because YOU wanted to know what it would be using YOUR creative math. Go look at your own post.

YOU are the one who is not using EIA's for their intended use. YOU have admitted it. Why shouldn't YOUR integrity be called into question? You choose a strategy that pays you MORE and pays your client LESS than the logical alternative.

Unless you come back with some lame attempt to justify what you and I both know what you are doing, I have nothing more to say on this topic. Peace.

 

[patch36]

You don't like things being taken out of context and spun? We can agree on that, but your figures offered no context and were contrived to make a flawed point. I too am done, with you. Find someone else to spew your venom at.

 

[dannysdad]

You don't like things being taken out of context and spun? We can agree on that, but your figures offered no context and were contrived to make a flawed point. I too am done, with you. Find someone else to spew your venom at.

Here's some math for you...

Your FIA: $110,000 (includes 10% bonus) pays 3%/year. In ten years it will be worth $147,831.

Fixed annuity: $100,000 pays 5.5%/year. In ten years, it will be worth $170,814.

Go ahead and explain how the math works in favor of your client. Your attacks on my character will not change the math.

 

[Charpress]

Last year I sold mostly Allianz.

This year I sold mostly Aviva. So, yes, I'm well familiar with Aviva. Allianz had the sense to drop the MVA. Try explaining the MVA to a client. Worse yet, watch their face drop when you present the client with an MVA disclosure to sign. It's crazy since the MVA does not help the company that much.

Next year I suspect I will be selling mostly Allianz (and some others) since Allianz took a bath because Aviva came out with some better products. Now it is reversed, at least temporarily.

As for bonuses: can anyone name any company that gives a client a 10% bonus and then lets them keep it if they bail short of the commitment time? Of course not. !0% bonus, 10 year commitment period, declining penalty each year, keep 1% of bonus each year whether you stay or not. Full vesting as an immediate death benefit with choice to heirs of stretching full 12% minimum guarantee or taking 6% minimum growth for time investment was held as a lump sum. How can it get much better than that?
- - - - - - - - - - - - - - - - - -
One more thing on MVA (market value adjustment):

Once a client looks at a 4-page disclosure with all sorts of graphs, facts and figures, they then ask "What the hell is this?" I then explain it as simply and truthfully as possible:

"If the insurance company thinks you made too much and they made too little (if you leave the contract early), then they can take back some of what you made."

Nice thing to have to explain.

 

[The Rabbi]

Here's some math for you...

Your FIA: $110,000 (includes 10% bonus) pays 3%/year. In ten years it will be worth $147,831.

Fixed annuity: $100,000 pays 5.5%/year. In ten years, it will be worth $170,814.

Go ahead and explain how the math works in favor of your client. Your attacks on my character will not change the math.

Where are the gains from the index included in your math.

Definitions:

IRAs etc are for ACCUMULATING wealth.

Annuities are for DISTRIBUTING wealth.

Does this clear things up???

 

[dannysdad]

Where are the gains from the index included in your math.

Definitions:

IRAs etc are for ACCUMULATING wealth.

Annuities are for DISTRIBUTING wealth.

Does this clear things up???

If you had read the whole thread, instead of chiming in to hear yourself talk, you would know that this scoundrel is putting money into FIA's WITHOUT using any index as a crediting method. All the client gets is the "bonus" and the minimum guarantee.

Does this clear things up???

 

[Guest]

Also, it's funny that Al3 chimes in. I called him out on giving investment advice on his website and he has removed that material from the site. He should be thanking me for keeping him out of trouble and you should be thankful, too.

Figure it out for yourself, rookie.

Since you brought it up, let me update the issue.

Because you claimed you turned me into the DOI, my lawyer wanted the site vetted by a "recognized" expert in prep for whatever civil action, if any, she is going to suggest with respect to you.

All your posts here and to every other board on the net is being compiled. These things take time. I don't think any civil action can (or should) be taken against you... unless you have deep pockets... which I doubt, but I'll wait to see what she suggests before I make a final decision.

Your postings in the "Question about a shotgun" thread suggesting I commit suicide has raised a lot of interest this morning such that she thinks all your posts should be sent to the law enforcement authorities for profiling. She thinks you could be the next Virginia Tech killer.

I told her she was exaggerating, that you are just a web-board wise-guy venting some steam, but I was surprised how many people she told me have made postings about violence on the web and have later done something reprehensible.

You really stirred up a hornets nest. Sam told me Sunday that he would honor a court order to 'out' you and my lawyer told me this morning that with your postings suggesting suicide that she can easily get one... although if she turns this over to the feds, it would be their case, not ours.

Personally, I don't want any of this but she thinks you are dangerous and as an officer of the court she sees a responsibility of some kind here to protect the public.

You've cloaked yourself quite well. We've not been able to identify "dannysdad."

At first I thought it was the guy here having some "fun" like he did when he took the identity of "pre-paid-legal" to post here. (I won't "out" him but his mistake was using the same "birthday" on both public profiles on this board.)

Sam has told me he would safeguard your identity (until a court order) but he said you are definitely NOT that other guy... and I agree. That guy is not cloaked and would never go so far as to request someone to kill themselves.

But someone here has... and from my private mail a lot of people think that person went too far.

I don't think anything will come of it as a civil case... me vs. you... but if she sends your posts to the FBI or homeland security, it's way, way out of my hands.

If she thinks, as an officer of the court that you are what she calls a "clear and present danger" (not sure what she means by that) there is nothing I can do to stop her.

I respectfully suggest that you talk with your own lawyer for advice before this spins out of control for you... perhaps for both of us.

The one thing in your favor is that the feds move like snails so you (and your lawyer?) have plenty of time to figure out what you will want to do or say... if anything.

I have to admit, you have me a bit un-nerved. It has been almost ten years since I received something that might resemble a veiled death threat. I don't feel as safe today as I felt before you posted this suicide thing. You sure got MY attention... along with that of a bunch of others.

I don't know why you wanted to go there... and maybe it is important we find out in case you are indeed dangerous. Like I say, I just don't know.

I've written a lot of dumb, stupid things in my 45+ years as a writer (starting on my high school newspaper,) but never that someone should be hurt or killed. Those are boundaries you just don't cross... ever.

Al

 

[patch36]

If you had read the whole thread, instead of chiming in to hear yourself talk, you would know that this scoundrel is putting money into FIA's WITHOUT using any index as a crediting method. All the client gets is the "bonus" and the minimum guarantee.

Does this clear things up???

..and if you had not made assumptions you would know that my clients are choosing not to participate in the Indexed strategies because of concerns about the economy, not because of my 'putting' them anywhere. They have the option to move into the Index Stratgies each year, but all the bad news and predictions of bad things coming have kept them, by their choice, in the Fixed side. My customers for the last year or two that have chose not to participate in the Index have made 'only' the Fixed Interest, but they have the option and my annual review to educate them to the possibilities of the Index strategies in the years to come.

You were looking to pick a fight and prove a point based on your misconceptions and attitude. I apologize for any part I may have played in your misunderstanding. I always do what is best for my clients based on their individual situation and goals. Your name calling and history of wishing death on those who don't agree with your preconceptions and misconceptions speak volumes to your character and rationalization of information. I only wish I were as ethical and knowledgeable as you think you are.