How do I learn Annuities ..?

[Lloyds of Lubbock]

Dave Ramsey is not a licensed professional.
He is a financial entertainer.

 

[annon123]

The other thing to be cautious of (seems to me there may have been a thread about this a while back) is that some of the funds are being moved offshore where there is less regulation (not a good thing in my opinion). The involvement of venture capitalist with companies/funds worries me as they make their money by buying something, cutting costs and then reselling it for a profit (which usually means debt for the buyer thus higher overhead).

 

[Sheryl J Moore]

Thanks ... Dave Ramsey says annuities are not the answer ...

Dave Ramsey is not an authority on annuities. sjm

 

[Lloyds of Lubbock]

He is is own mind!

 

[Fisher]

The other thing to be cautious of (seems to me there may have been a thread about this a while back) is that some of the funds are being moved offshore where there is less regulation

Some of what funds?

 

[DHK]

Thanks ... Dave Ramsey says annuities are not the answer ...

Depends on the question being asked.

 

[LostDollar]

Thanks ... Dave Ramsey says annuities are not the answer ...

Depends on the question being asked.

Caveat, I am not an agent.

@MedicareMutt :
Pay attention to what @DHK says. It's like any other financial product. There are some situations where they are useful and some where they are not.

Your responsibility would be to look beyond just making money by selling the product and helping people to match their needs to a specific product if applicable.

I have not read them, but Stan the Annuity Man has written some short books about various types of annuity products. They used to be in print form but I think they can by downloaded from his website now. That's a place you could start for some very basic general information.

 

[LostDollar]

The other thing to be cautious of (seems to me there may have been a thread about this a while back) is that some of the funds are being moved offshore where there is less regulation (not a good thing in my opinion). The involvement of venture capitalist with companies/funds worries me as they make their money by buying something, cutting costs and then reselling it for a profit (which usually means debt for the buyer thus higher overhead).

Caveat, not an agent.

I don't understand about reinsurance but I think that was a thread about reinsurance and what it had to do with annuities and the risk problems for American annuity holders as the reinsurance companies were moving to jurisdictions beyond American legal authority.

 

[LostDollar]

very, very true.

only correction I would make is that a 1035 has nothing to do with IRA or Roth funds.

A 1035 exchange only pertains to non qualified annuities going to another new or existing non-qualified annuity or a life insurance policy going to a new life insurance or new non qualified annuity. You can go to Los Angeles (Life to Annuity) but cant go to to ALabama (Annuity to Life).
I believe the correct terminology for your explanation is a Transfer/Direct Rollover/Indirect Rollover/Conversion for your points.

Before you know it, you will be well on your way to be able to start part time selling annuities

Caveat, annuity purchaser, not an agent.

North American's and Athene's application packets for FIA's include industry standard 1035 forms to move (roth in my case) qualified money held in other organizations to the carrier's accounts for an annuity purchase by a prospective contract holder.

 

[Allen Trent]

Caveat, annuity purchaser, not an agent.

North American's and Athene's application packets for FIA's include industry standard 1035 forms to move (roth in my case) qualified money held in other organizations to the carrier's accounts for an annuity purchase by a prospective contract holder.

They likely just have 1 form that can be utilized for either a Direct Rollover of qualified funds, a Transfer of qualified funds or a 1035 exchange for non-qualified. But the IRS code is definitely different for each type & the 1099 R that comes at the end of the year will utilize different code #s in the distribution type for the releasing company to notify the taxpayer & IRS which type of transaction occurred.