Ep 95: Gary Baker: Hot Buttons Being Pushed by the Annuity Industry in 2022

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Gary Baker discuss:

• The bowling analogy
• Four different types of protection
• Contracts that serve the consumer’s need
• Comparing annuity programs

Key Takeaways:

• Getting a new index annuity is like going bowling and asking to put bumpers on both sides so you wouldn’t get a gutter bowl. There are literally zero downsides.
• You can get four different types of protection from an annuity contract. Protection against uncle sam, protection of your principle, death benefit, and income benefit.
• Consumers deserve to get the contractual guarantees rather than the contract that financial advisors think they want. Advisors have the responsibility to mold it according to the client’s needs.
• Comparison of annuity programs isn’t that useful of a discussion since they are all different and serve different needs. It’s much better to figure out the need first then configure the contract accordingly.

"Depending upon what gaps you’re filling in a broader financial plan, you can take one of these contracts and configure it so that it fits within that plan as opposed to the other way around" — Gary Baker.

 

Connect with Gary Baker:

Website: https://www.cannex.com

Connect with The Annuity Man:

Website: http://theannuityman.com/

Email: [e-mail]

Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work

YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g

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