Need help with variable annuity purchased in 2002

Oct 15, 2018

  1. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Wow. Offer help and advice, and what do I get? Judgment and criticism... from someone who clearly doesn't understand the product in question.

    No one said that you were a "dumb ass" (to use your term). All I said was that you didn't understand the contract that you have.

    And anyone who has SOLD these, can tell that you don't understand them... but you're ready to label it as "a garbage product".

    All I can say at this point... is good luck to you.
     
    DHK, Oct 15, 2018
    #21
  2. Tahoe Ray
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    Tahoe Ray Guru

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    Redact his personal info and email me his statement. I'll help you.

    I was a variable annuity wholesaler for several years and competed against Hartford on a daily basis.

    The enhanced DB will likely go away but the rest of what you're saying isn't likely.

    Feel free to reach out if you'd like some help.
     
  3. bmarsh
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    bmarsh Super Genius

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    It doesn't "end", it starts it payout phase...ask them if he can defer it until he's 100.

    I did find Sammons Livewell VA issues to age 90, 100% liquid, no surrender charges, if you need to do a rollover.
     
    bmarsh, Oct 16, 2018
    #23
  4. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Did you not read a thing that has been posted so far?

    Multiple people have explained that your current understanding of this product is incorrect.

    People replying to you sell these for a living.... and have been doing so for many years now. You dont. You came here for advice. Experts are telling you that your current understanding of this product is incorrect.
     
  5. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    If he needs a new product, is not even an issue to consider at this point. You need to correctly understand how the product works first.

    IF a new product is in his best interest (it is very likely Allen is correct... I've been doing this for 11 years now) then he could likely do a 1035 exchange to a new product, assuming it would pass suitability.

    To call something you know nothing about and obviously do not understand, a "trash product", is unprofessional and makes you seem immature. Dont talk trash when you dont even have your basic facts straight.
     
    Last edited: Oct 16, 2018
  6. breakfaststout
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    breakfaststout Expert

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    Everyone please get a life and quit beating a dead horse, will ya? I hate to break it to ya, but i do know more about the annuity contract than you do as i have the policy and current statements. I've also called Hartford to gather more facts as well. I have found a solution. No further input is needed. Thanks anyway.

    I'm ignoring any other posts on this thread. Would be nice if i could find a way to DELETE my profile and this thread, i've searched high and dry. Tootles ..
     
  7. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    WOW. Bless your heart.

    Im guessing not many people take the time to help you a second time.
     
  8. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    [​IMG]
     
    DHK, Oct 16, 2018
    #28
  9. Allen Trent
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    Allen Trent Guru

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    I am waiving my invoices I planned to send you for all the accurate advice I tried to give you so you didn't run out & make a horrible decision for your grandfather (potentially exposing yourself to Elder abuse laws in your state).

    Everyone in this thread was 100% professional to you, never was derogatory, never tried to try to sell a new product to you, gave you ideas on questions to ask, etc, etc.

    To quote 2 idols "just when I thought you couldn't possibly be any dumber, you go and do something like this............................and totally redeem yourself"
     
  10. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    I'll just add this: If you want someone (who wasn't on this thread) to help you, I can highly recommend John L. Olsen, CLU, ChFC, AEP. He has written several books on annuities for both advisors and consumers.

    He will (or may) charge you a fee for a consultation, but I would certainly consider his services at this stage.

    Consulting services

    Of course, you don't like me now, so check it out for what it's worth.
     
    DHK, Oct 16, 2018
    #30
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