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Top Articles - Annuities - Annuities? Give Me A Break
Millions of seniors are sold equity-indexed and variable annuities with promises of guaranteed returns with little or no risk. And hardly a day goes by that I don’t hear from some frustrated investor who finds him/herself trapped by one
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
of these investments. Let me paint a very clear picture of the dangers of these products and share some pointers for those who have already bought one.
Annuities (especially equity-indexed annuities) are the product of choice for insura
Annuities (especially equity-indexed annuities) are the product of choice for insura
; 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
ce agents and other commission-based advisors. Why? Because it’s an easy sale for the advisor, it pays a huge up-front commission and it locks the client in for several years so little attention has to be given the client or his/her mone
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
y.
Annuities are an easy sale for an agent because, in theory, it gives the investor everything they could ever dream of. Agents tell you that equity-indexed annuities can give you the returns of the stock market in the good times witho
Annuities are an easy sale for an agent because, in theory, it gives the investor everything they could ever dream of. Agents tell you that equity-indexed annuities can give you the returns of the stock market in the good times witho
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t any of the risk. In fact, they will guarantee you will earn a minimum amount even if the market crashes.
Those selling the latest variable annuities will explain that you are guaranteed a 7% return! They’ll tell you there’s no way to
Those selling the latest variable annuities will explain that you are guaranteed a 7% return! They’ll tell you there’s no way to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ose money.
Wow! What an investment!
That’s not all. If you invest today the insurance company will even pay you a bonus! Some pay a bonus as high as 12%! Think about that, Mr. Prospect. If you transfer all of your $1,000,000 retirement
Wow! What an investment!
That’s not all. If you invest today the insurance company will even pay you a bonus! Some pay a bonus as high as 12%! Think about that, Mr. Prospect. If you transfer all of your $1,000,000 retirement
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
account into this whiz-bang annuity, you’ll get $120,000 right off the bat. Is that great or what?
Why, you’d be an idiot to not instantly throw every dollar you have into one of these. Some agents out there are even recommending you b
Why, you’d be an idiot to not instantly throw every dollar you have into one of these. Some agents out there are even recommending you b
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
rrow money to put into these annuities!
Oh, if only it were so easy. But it’s not. Give me a break!
First, what the agent or advisor isn’t telling you is that he/she can make as much as 10% off of every dollar you put in. If you transf
Oh, if only it were so easy. But it’s not. Give me a break!
First, what the agent or advisor isn’t telling you is that he/she can make as much as 10% off of every dollar you put in. If you transf
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
er that $1,000,000 retirement fund into one of these, the agent may make $100,000! Did the agent happen to mention that? Talk about conflict of interest!
Second, do you really think that an insurance company is going to give you a 12% b
Second, do you really think that an insurance company is going to give you a 12% b
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
nus AND pay the agent a 10% commission AND that the money isn’t somehow going to come out of your pocket? Come on.
How can the insurance company pay out 22% right up-front and still stay in business? I remember seeing a humorous sign at
How can the insurance company pay out 22% right up-front and still stay in business? I remember seeing a humorous sign at
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
a local business: “We rip-off the other guy and pass the savings on to you!” Is that what you think the insurance company does?
Nor is there an insurance company on the planet that can guarantee you will earn 7% a year on a variable ann
Nor is there an insurance company on the planet that can guarantee you will earn 7% a year on a variable ann
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
uity. None.
There’s always a catch. The problem is that it is very hard to find. Unless you are a Philadelphia lawyer and can parse every word of the contract you aren’t going to see it. Most advisors don’t even see it!
For the million
There’s always a catch. The problem is that it is very hard to find. Unless you are a Philadelphia lawyer and can parse every word of the contract you aren’t going to see it. Most advisors don’t even see it!
For the million
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
of seniors suckered into these products, there’s little they can do. They’ve contacted their State Department of Insurance to little or no avail. They’ve pleaded with the insurance company. Often, they are advised to go to an attorney.
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
What should you/they do in this situation? The options are very limited.
First, I recommend withdrawing the penalty-free amount that is available each year and transferring that money somewhere else. If the annuity is an IRA, you can st
First, I recommend withdrawing the penalty-free amount that is available each year and transferring that money somewhere else. If the annuity is an IRA, you can st
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
ll transfer that penalty-free amount to another non-annuity IRA each year without tax consequences.
Second, you have to determine if it is better to pay the surrender penalty or wait it out. Brad, who recently contacted me, is choosing
Second, you have to determine if it is better to pay the surrender penalty or wait it out. Brad, who recently contacted me, is choosing
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
o pay the 15% penalty. An agent sold his 89-year old father an annuity with a 15-year surrender period! What topped it off was that the heirs will have to pay a surrender penalty to get the money if his father dies before age 104!
It’s
It’s
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
a very expensive education for those in this situation. That’s why I speak out so strongly against these products. There isn’t an easy way out. And remember, there’s always a catch. Don’t take that chance. Stay away.
I’ll personally res
I’ll personally res
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ond to your questions, free of charge. Go to http://www.guardingyourwealth.com and click on ‘Ask Jeff’.
SPECIAL REPORT:
Has this 'Investment From Hell' been recommended to you by your advisor? I hope not! This complimentary 47-page S
SPECIAL REPORT:
Has this 'Investment From Hell' been recommended to you by your advisor? I hope not! This complimentary 47-page S
.
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
pecial Report is jam-packed with
solid information you need to know to protect yourself. This report
could save you and your loved ones tens, even hundreds of thousands of
dollars. To get your copy just click here:
http://www.guar
http://www.guar
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
ingyourwealth.com/SpecialReports/GeneralEIA.htm
In addition to being a nationally syndicated columnist and Certified Financial Planning Practitioner, Mr. Voudrie provides personal, private money management services to clients nationwide
In addition to being a nationally syndicated columnist and Certified Financial Planning Practitioner, Mr. Voudrie provides personal, private money management services to clients nationwide
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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