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Top Articles - Annuities - Equity-Indexed Annuities - Putting Lipstick On A Pig
Buyer’s remorse—we’ve all had it from one time to another. But when it comes to investing your life’s savings, the last thing you want is an investment that you will soon regret. H
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
ere are some secrets that can prevent that from happening.
Staying out of the wrong investment in the first place is much easier than trying to get out of one later. Often, the pr
Staying out of the wrong investment in the first place is much easier than trying to get out of one later. Often, the pr
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
blem is that you aren’t given all of the information, or it’s presented using terms that you aren’t familiar with. Either way, the deck is stacked against you.
When you sit down w
When you sit down w
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ith the typical commission-based advisor, their job is to sell you something. They’ve been well trained on how to present a product in the best possible light. They know how to han
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
le your every objection. They have a number of closing techniques to persuade you to make an immediate buying decision.
They don’t have to have a great product to offer in order t
They don’t have to have a great product to offer in order t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
o get you to invest. In industry lingo, sometimes advisors have to “put some lipstick on that pig.” Many times a product isn’t accurately portrayed. An investment’s blemishes can b
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
well hidden by some clever salesmanship.
Sounds like the perfect investment, doesn’t it? But when you take the time to drill down through the fine print in the actual annuity con
Sounds like the perfect investment, doesn’t it? But when you take the time to drill down through the fine print in the actual annuity con
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
tract and decipher all the legalese, you quickly find it’s a pig-in-a-poke. Although this annuity is a ten year contract, if you take your money out 10 years later you don’t get AN
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
of the promised index gains! If you initially invested $100,000 you are guaranteed to only get $101,457 ten years later! That’s right. You will have made $1,457 after 10 years!
I
I
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
n order to get any market gains, you must annuitize the contract over a 10-year period. If you don’t find out about that until the 10th year, you will have to leave your money inve
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ted for a 20-year period to get ANY index gains. Even then, you don’t get any of the index gains that occurred during the second 10-year period. It’s not sounding so good now, is i
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
?
It gets worse. If you ever need more than 5% of your money in a year, you have to pay a stiff surrender penalty to do so, up to 12.5%, plus you lose your bonus. So you can get b
It gets worse. If you ever need more than 5% of your money in a year, you have to pay a stiff surrender penalty to do so, up to 12.5%, plus you lose your bonus. So you can get b
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ack less than you invested even after 8 years! Even if you die before the contract is up and your heirs cash out, they are virtually guaranteed to get back less than you put in.
A
A
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
d these are just a few of this investment’s blemishes. Even if the salesperson mentioned these disadvantages, it’s done in a way that makes them seem unimportant. Many people have
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
purchased this pig without realizing what they were getting themselves into. Many won’t even know until they go to cash it in after 10-years. Since they see the index gains on thei
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
statement they believe all is well.
I’ve used equity indexed annuities as an example, but the same story can be said about any number of investments. There are no perfect investm
I’ve used equity indexed annuities as an example, but the same story can be said about any number of investments. There are no perfect investm
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ents! Every investment has advantages and disadvantages.
Don’t take what advisors tell you at face value. Do your homework. Research the product on the internet. If it’s an insura
Don’t take what advisors tell you at face value. Do your homework. Research the product on the internet. If it’s an insura
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ce product like an annuity, make sure you see and read the contract before you invest. If you don’t understand it, find someone who is unbiased to help you (not the person trying t
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
o sell it to you!). The insurance company will only do what is in the contract regardless of what the agent makes you think the contract says.
Never give into pressure to buy righ
Never give into pressure to buy righ
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
then. That’s just a sales tactic. Make sure you know how your investment works and how you can get at your money. Doing so may prevent making an investment you will live to regret
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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