The FinancialVerse - Today's Annuity Products
A Tool To Create Protected Lifetime Income
Today's Annuity Products was written in an easy to understand style to educate the individual researching annuity products for use in their financial affairs. The book gives the reader all information necessary to understand annuity products and to prepare themselves to meet with a financial professional to investigate their purchase. The book takes the reader on a complete journey through the world of annuity products including:
Chapter 1 – What Are Annuities and How Do They Work?
?What Are Annuities?
?Key Characteristics
?Brief History of Annuities
?The Key Phases of An Annuity
?Understanding the Basic Building Blocks
?Overview of the Business of Annuities
?How Annuity Companies Are Regulated
?Summary
Chapter 2 – The Core Benefits of Annuities
?Introduction
?Unlimited Contributions for Non-Qualified Annuities
?Tax Deferral
?Principal Protection
?Ability to Be Swapped Tax Free
?Probate Avoidance
?Access to Cash When Needed
?Offset to Longevity Risk
?Guaranteed Protected Income
?Death Benefits
?Nursing Home, Long-Term Care and Terminal Illness Benefits
?Summary
Chapter 3 – Annuity Income Tax Benefits and Negatives
?Congress and the Law
?Taxation Basics for Annuity Products
?Summary
Chapter 4 – Annuity Product Types
?The Six Major Product Types
?Fixed Annuities
?Variable Annuities
?Buffered or Structured Annuities
?Fixed Indexed Annuities
?Immediate Income Annuities
?Deferred Income Annuities and QLACs
?Summary
Chapter 5 – Why Buy An Annuity?
?The Key Risks Annuities Protect Against
?Why Buy An Annuity?
?Why An Annuity Might Not Be Right for You
?Summary
Chapter 6 – The Major Positives and Negatives to Buying Annuities
?The Positives and Negatives of Fixed Annuities
?The Positives and Negatives of Variable Annuities
?The Positives and Negatives of Buffered Annuities
?The Positives and Negatives of Fixed Indexed Annuities
?The Positives and Negatives of Immediate and Deferred Income Annuities
?The Right Mix of Policies to Buy
?Summary
Chapter 7 – How Much Income Should I Plan For?
?America's Income Challenge
?The Three-Legged Stool of Fulfilling-Stage Savings
?The Income Replacement Ratio
?Summary
Chapter 8 – Financial Strength Behind the Products
?Life Insurer Financial Strength Ratings
?Rating Agency Contact Information
?State Government Guaranty Funds
?Summary
Chapter 9 - Where to Buy and the Buying Process
?The Cash Savings Needs Hierarchy
?Paying for Your Annuity
?The Places You'll Look – The Purchase Channels
?Questions to Ask Before You Buy
?The Five Steps to Purchasing An Annuity
?How Much Do Annuity Salespeople Earn on My Purchase?
?Summary
Chapter 10 – Your Next Steps
?Performing an Income Check-Up
?Making the Purchase
?Keeping the Policy In-Force
?Filing A Claim for Benefits
?Summary
Chapter 11 – Final Thoughts / Should You Buy An Annuity?
The book also contains resource checklists that prepare the reader to perform a financial check-up in preparation for determining their annuity product needs and a list of the key annuity organizations they can turn to for information about the products.
Today's Annuity Products takes the over 20 years of the author's experience with these products and condenses into an understandable and useful resource for the potential annuity buyer.
Harry N. Stout is a published author and founder of the FinancialVerse organization. The FinancialVerse books and content are dedicated to improving America's financial literacy. He is an acknowledged senior leader in the global financial services business with over two decades experience in the annuity and life insurance businesses. He has held marketing, sales, product innovation, and distribution roles over his successful career. He has over 25 years of financial services industry experience in the U.S. and abroad, working in Europe, Northern Asia, Africa, New Zealand and Australia.
He is a past director of the National Association for Fixed Annuities, the Financial Services Council of Australia, the Insurance Marketplace Standards Association, and the Life Insurance Marketing and Research Association. He has been a governance fellow of the National Association of Corporate Directors.
His U.S. business experience includes serving as President of Voya's U.S. Retail Annuity Business Group, where he directed the fixed, indexed and variable annuity businesses. He also spent over a decade with Fidelity & Guaranty Life Insurance Company where he served as Chief Executive Officer and President as well as holding key senior leadership roles for its parent companies USF&G Corporation, Travelers Corporation and Old Mutual U.S. Holdings, Inc. He has also been a corporate officer or Board member of several insurance marketing organizations. He began his career in public accounting with KPMG where he spent 10 years working primarily with multi-national enterprises.
Mr. Stout's experience includes serving as Managing Director of Investments and Insurance with Australian and New Zealand Bank (ANZ), where he was based in Sydney and ran the Australian life insurance, investment, retirement services, general insurance and advice businesses for this large regional Australasian bank. During his time in Australia, he was also Managing Director and Chief Executive Officer of ING Australia.
Harry is a nationally known speaker, podcast guest and author covering annuities, life insurance and personal finance.
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