Dump 400k into an annuity for a retired teacher in Florida? I work in South Florida, teachers dont have much more than that 400k plus their pension if they are lucky. You couldn't pay me to dump it all into an annuity and lock their money up with no liquidity. You may make a great 25k+ commission up front but they will probably not like you for long.
The way to have longevity is to give people liquidity. I do alot of business by offering them annuities in addition to a bigger chunk of liquidity and there is one broker who I see on statements for retirees who is notorious for putting 60+ year old's into 15+ year surrender fee annuities into poor companies like Americo and such.
