The Baby Boomer Dilemma Movie

[DHK]

This movie is all about the Baby Boomer Retirement Dilemma, particularly about how to claim Social Security for your benefit and the benefits of annuities.

Does NOT talk about taxes.



Producers can register for a free viewing at this link here:
https://www.theboomermovie.com/getaccess

Here's a video on Tom Hegna interviewing Doug Orchard on how to use this movie for prospecting:

 

[AnnuityGuy63]

It's not about taxes... its about having a guaranteed source of retirement income.
Power of Zero is about taxes.

I just got my copies a week ago. I beleive it will be very helpful in explaining the need for guaranteed income as opposed to corp pensions and brokerage accounts and the next market crash.

Dr. David Babble, Moshe Milevsky, and the rest... amazing.

Tom Hegna saying you should be careful of your broker telling you not to have a guarantee source of income.

A great line from the head of the NAIC saying the state guarantee fund is basically the same as FDIC

 

[scagnt83]

A great line from the head of the NAIC saying the state guarantee fund is basically the same as FDIC

Tell that to those who bought CB Life annuities.

He would have his license suspended if he was an agent who said that to make a sale.

 

[Allen Trent]

.

A great line from the head of the NAIC saying the state guarantee fund is basically the same as FDIC

Wowza——really?

State guarantee fund doesnt actually exist. It is an association & basically a legislative process to assess other carriers. Is really not a fund considering there is no dollars in it.

FDIC receives annual payments from banks as insurance. Last I remember seeing 5 years ago was it had around $50B in the fund. Sure, that is likely less than % of all bank deposits, but it is more than $0 that sits in most states Guaranty Associations.

 

[Tahoe Ray]

Last I remember seeing 5 years ago was it had around $50B in the fund. Sure, that is likely less than % of all bank deposits, but it is more than $0 that sits in most states Guaranty Associations.

I'd be willing to bet that zero is closer to life insurer assets than 50b is to bank deposits...

 

[scagnt83]

Wowza——really?

State guarantee fund doesnt actually exist. It is an association & basically a legislative process to assess other carriers. Is really not a fund considering there is no dollars in it.

FDIC receives annual payments from banks as insurance. Last I remember seeing 5 years ago was it had around $50B in the fund. Sure, that is likely less than % of all bank deposits, but it is more than $0 that sits in most states Guaranty Associations.

Ive never seen figures on any actual "pots of money" just sitting there waiting to be paid out. And I dont think there are any.

If you read the SGA websites, they say this:
"SCLAHIGA is authorized to make assessments against all member companies by line of business to raise the funds needed"

If you read other statements they are all very similar to this.

So imo, they have $0 in "funds" available on the state level on a day to day basis. They make assessments at the time needed to cover claims that need to be paid.

If you look at your state DOI website, you will find assessment bulletins for member companies when funds are needed. If I remember right, they often include the carrier the claim is paying for in the bulletin.

Carriers dont just make regular payments into the SGA. They pay when assessed, and are assessed only when funds are needed.

 

[scagnt83]

To follow up on that. Part of the reasoning for this, is that funds are so rarely required. Something like 95% of insolvencies just get split up into other carriers and the insured just sees a name change on their statements. Of course nothing like the CB Life debacle had ever happened before either.

 

[Allen Trent]

To follow up on that. Part of the reasoning for this, is that funds are so rarely required. Something like 95% of insolvencies just get split up into other carriers and the insured just sees a name change on their statements. Of course nothing like the CB Life debacle had ever happened before either.

Agree, that is why I was saying it is a bit extreme if the head of NAIC said on the video that the Guaranty association is a fund & that it is "basically the same as FDIC"

 

[AZSHIS]

Who is the Brett Kitchen dude in the trailer ( Does he actually make annuity sales??)? I have been receiving emails from him stating his system is the wave and I like him will have untold riches in the annuity /IULspace if I merely send him a check in the mid 4 figures every month. I do not see the utility of renting out a theater paying Hegna et. al. 4 figures, giving them a piece of any production, and rinsing and repeating. If it works for you have at it. A guy in my office suites about 4 years ago spent about 50 large yes 50k on Hegna and made about 18k in commission. I met Hegna and he came across like an obese blowhard know it all. Good luck DHK.

 

[scagnt83]

Who is the Brett Kitchen dude in the trailer ( Does he actually make annuity sales??)? I have been receiving emails from him stating his system is the wave and I like him will have untold riches in the annuity /IULspace if I merely send him a check in the mid 4 figures every month.

Brett Kitchens makes his untold riches from selling leads, not writing annuity or IUL business.

And when you run TV commercials telling people they will receive 11% tax free returns, its not hard to get leads to sell.

Of course as an agent you would be using non-compliant leads that could wind you up in court or with an E&O claim... or just get your license suspended.

A producer with a strong sales system could probably turn a profit off of the leads. But its a total bait and switch when I saw the system. Tell them they will get 11% tax free.... and all they have are qualified funds... so you pivot to an annuity sale... often funding an IUL.

The whole deal is shady af.

He mostly exploits financially desperate agents... of course that could be said about many lead companies.