A Guarantee is Only As Good As It's Insurance Company

GT350 · 09-01-2009, 09:40 PM

Discuss

YouTube - Adam Bold: Don't Buy Annuities!

briko3 · 09-01-2009, 09:50 PM

I do agree that the system is set up for agents not to help existing clients, however the guarantee thing is a terrible point. Whatever guarantees are on an annuity faaaar exceed the guarantees of mutual funds. You know why? It's because mutual funds have no guarantees.

Besides, a good advisor recommends both mutual funds and annuities as part of a portfolio.

insuranceexec · 09-01-2009, 10:02 PM

Same ole argument. What would you expect him to say?; he is the founder of "The Mutual Fund Store."

It would be like Henry Ford telling you that he believes a Ford is better than a Chevy.

I agree with Briko; diversify, diversify, and when all else fails diversify............

Norwayguy · 09-24-2009, 03:33 AM

I love it he mentions the annuities come with a prospectus 4 inches think..He is obviously talking about VAs mutual funds come with prospectuses too so typical VA has 30-80 funds go grab 30-40 mutual fund prospectuses and see how think those are....He talks about AIG the insurance company almost going out of business....lets be real and talk about the insurance companies took hits but it wasn't the insurance subsidaries that needed the bailouts. I sell mutual funds, VA, fixed and indexed annuities they all have there place.

annuityseller · 09-24-2009, 04:38 AM

Sounds to me like a lot of misinformation cause I sell FIA's and I NEVER DELIVERED A 4INCH THICK DOCUMENT. he should say VA right up front!!!!

LGilmore · 09-24-2009, 05:02 AM

Annuities: DEVIL

Classic, Can't offer you a variety of products, shoot down what you don't offer.

As others note. variety is usually the best path to follow.

Ichiban · 09-24-2009, 08:30 PM

You gotta love this obviously "Unbiased" and "Accurate" dribble he is spouting. He has no vested interested in knocking competing product lines at all.

Yes, Insurance products are only as good as the insurance companies that back them oh wait and also the state guarantee association that they all pay into. Funny how he left that out. Also funny how he did not mention how many people lost all their money as a result of an insurance company going insolvent. Maybe because he could not find any. He is not even clear on what he means by annuity. He is talking about VA's it sounds like but he does not attempt to make that at all clear. Is it a lack of understanding or intentional...?

Yes, please put all your money with us brokers where I guarantee you will get all your money back plus interest... Oh wait we don't guarantee that... Well just give me your money.

arnguy · 09-24-2009, 09:14 PM

Originally Posted by Norwayguy

I love it he mentions the annuities come with a prospectus 4 inches think..He is obviously talking about VAs mutual funds come with prospectuses too so typical VA has 30-80 funds go grab 30-40 mutual fund prospectuses and see how think those are....He talks about AIG the insurance company almost going out of business....lets be real and talk about the insurance companies took hits but it wasn't the insurance subsidaries that needed the bailouts. I sell mutual funds, VA, fixed and indexed annuities they all have there place.

"....their place," Peter. Good post.

healthagent · 09-24-2009, 09:42 PM

FDIC Is Broke, Taxpayers at Risk, Bair Muses: Jonathan Weil - Bloomberg.com

Franz Kafka · 09-25-2009, 01:17 AM

Originally Posted by Ichiban

You gotta love this obviously "Unbiased" and "Accurate" dribble he is spouting. He has no vested interested in knocking competing product lines at all.

Yes, Insurance products are only as good as the insurance companies that back them oh wait and also the state guarantee association that they all pay into. Funny how he left that out. Also funny how he did not mention how many people lost all their money as a result of an insurance company going insolvent. Maybe because he could not find any. He is not even clear on what he means by annuity. He is talking about VA's it sounds like but he does not attempt to make that at all clear. Is it a lack of understanding or intentional...?

Yes, please put all your money with us brokers where I guarantee you will get all your money back plus interest... Oh wait we don't guarantee that... Well just give me your money.

He's got EIA and VA all mixed up. He's confused .. poor soul.

indaville · 09-25-2009, 11:35 AM

Most of the allocations we see from the The Mutual Fund Store (TMFS) lost on average 30% in 2008. I think TMFS manages around $1.5B, that means their clients lost around $450,000,000 last year!!! Funny how he never mentioned that. How much money was lost in fixed/indexed annuities in 2008? $0.

insuranceexec · 09-25-2009, 01:10 PM

Originally Posted by indaville

Most of the allocations we see from the The Mutual Fund Store (TMFS) lost on average 30% in 2008. I think TMFS manages around $1.5B, that means their clients lost around $450,000,000 last year!!! Funny how he never mentioned that. How much money was lost in fixed/indexed annuities in 2008? $0.

What a good time to get back into the market............

Good post!