Annuities: What Every Advisor Needs to Know with Guest Brian Smith [Episode 275]
The Perfect RIA
Prioritize Guarantees for Reliable Income
Focusing on product guarantees is vital when dealing with insurance products, particularly in aspects of performance and income. It's essential to understand the true guarantees instead of relying on promises often made by independent marketing organizations (IMOs). Confirming the reliability of guaranteed income is crucial, as hypothetical promises can be misleading. Attention should be paid to the duration of caps on earnings; for example, while a cap may be advertised at 15% initially, it could decline significantly afterwards. It is advisable to seek insurance carriers that provide guaranteed caps for the full surrender charge period and to prioritize companies with strong ratings and financial stability.
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