Apr 11, 2023
In this episode, The Annuity Man discussed:
The state of the annuity industry
Changes that are needed in the annuity industry
Things that the annuity industry needs to get rid of
Live your life and stop worrying so much
The annuity industry is thriving. Companies show that they are going in the direction of utilizing technology to make it easier for consumers to purchase and access annuity services.
Annuities are meant to be bought and not sold. Companies must incentivize agents to provide services to help consumers make the best decision for themselves and not for the agents by making all annuity types have the same compensation level.
Annuity companies should strive to become more pro-consumer. The first step towards that is to get rid of backtested numbers which are misleading and fictitious from so many angles. They should also get rid of upfront bonuses.
Live your life. Stop worrying so much. Enjoy what you have done, and be proud of what you’ve got. Money doesn’t solve problems or eliminate misery, but family and health do, and so does having a passion for something and communicating with others.
"Everyone says ‘no one wakes up in the morning and just wants to buy an annuity.’ I have to disagree with that. I think that people that are looking for annuities are looking for a place where they can go get educated, look at the best quotes and then make a decision on their terms and their timeframe." — Stan The Annuity Man.
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