Basic overview of the different types of annuities

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Presentation Description

This is a short powerpoint on the differences between income annuity, deferred annuities and the differet types of each.

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Presentation Transcript

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Annuities A quick explanation for Life Insurance Agents

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Disclosure: This is an Educational Presentation... The information discussed this presentation is basic and general in nature. This presentation is intended for educational purposes only for licensed life insurance agents. This recording is not meant to be distributed or viewed by the general public. No specific products or companies are being solicited. No specific investment advice is ever intended. Financial products can vary, therefore, always examine the detail of the product structure, provisions and features. The US Securities and Exchange Commission (SEC) requires that only registered representatives licensed with a broker/ dealer license can sell specific securities and provide investment advice. The presenter, speaker and/or sponsor of this information is a licensed, independent insurance agent. The presenter, speaker and/or sponsor of this information and is not related to, endorsed by, nor connected with and not approved by any Government Agency or organization. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice, and cannot be used to avoid tax penalties, or to promote, market or recommend any tax plan or arrangement. Please note that Charley Scott, Advisor Techs, LLC., its affiliated companies, and their representatives do not give legal or tax advice. For complete details, you are encouraged to consult with your tax advisor or attorney. Please understand that laws and regulations are subject to local variations and may have different interpretations. Therefore, should legal advice be required, it is recommended that you seek the advice of a qualified attorney in your state of residence. Product availability, features and rates may vary by state and time of application. No insurance company named within has approved or reviewed this presentation. All guarantees are backed by the financial strength and claims paying ability of the issuing company. Withdrawals will decrease the value of the contract and it’s death benefit. Any amounts you receive from your contract may be subject to ordinary income taxes and, if taken prior to age 591⁄2, a 10% federal tax penalty. Any discussions regarding interest rates and rates of return are purely hypothetical and not intended to represent any assurances or guarantees. Not FDIC insured • May lose value • No bank or credit union guarantee Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF

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Annuities What you should learn from this session? What are the different types and subtypes of annuities. Be able to draw a chart to explain the different types of annuities to a client.

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Types of Annuities

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Types of Annuities

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Annuities What are they? A contract Usually issued by an insurance company Designed to accumulate funds And/Or provide payments to the holder at specified intervals, usually after retirement. Payments can be for a certain number of years or for guaranteed for life of the annuitant.

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Types of Annuities Between two individuals with no insurance company. Issued by Insurance companies What You Are Selling!

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Types of Annuities Between two individuals with no insurance company. Issued by Insurance companies !

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Types of Annuities Between two individuals with no insurance company. Issued by Insurance companies

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Types of Annuities

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Types of Annuities

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Types of Annuities S ingle P remium I mmediate A nnuity

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Types of Annuities S ingle P remium I mmediate A nnuity Flexible Premium Immediate annuity

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Types of Annuities S ingle P remium I mmediate A nnuity Flexible Premium Immediate annuity

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Types of Annuities S ingle P remium I mmediate A nnuity Flexible Premium Immediate annuity- No Such Thing

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Types of Annuities Payments fluctuate & Need Securities license to sell Payments stay the same and need a life insurance license to sell

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Types of Annuities

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Types of Annuities Securities license usually need to sell Value Determined by the value of annuity units Investment Risk is on the owner

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Types of Annuities Securities license usually need to sell Value Determined by the value of annuity units Investment Risk is on the owner Life insurance licenses needed to sell Value is based on interest credited Investment risk is on Insurance Company

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Types of Annuities MYGA=Multi -Year Guaranteed Annuity Similar to Bank CD Interest does not change until end of guarantee period Usually rate guarantee period and surrender term match.

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Types of Annuities Similar to Bank Savings Account Interest rate changes annually and is guaranteed for 1 year even though surrender charges may 5 or 10 years long.

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Types of Annuities A traditional annuity with the ability to link interest credited to the performance of stock market index such as S&P 500, DJIA, Nasdaq 100 and others.

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For questions or comments please email charley@advisortechs.com or call 303-550-1699 Thank you for Watching