a 45% bump on your deposit

[Dien Rice]

Originally Posted by sandalwood

This means his 100K would be worth 145K in three years if he decides to annuitize ( take a monthly check). This makes his monthly check 45% higher than it would be if he merely annuitized the 100K.

Hi Tom,

I'm not used to annuity type calculations...

If he puts in $100K and gets $145K in 3 years, by my calculation that is a return of around 13% per year. Is that right?

Not sure if I'm understanding it right...

Best wishes,

Dien

That is one way to look at it. However, the product is based on the base amount deposited. Using my 100K, it has 2 features.

The first is a 3 year program that bumps the base by 30% year 1, 37.5% year 2 and 45% year 3. This means if a person decides to annuitize (take a monthly income) in year 2 the bump would be 37.5%. This gives him/her a new base rate for annuitization purposes. That new rate would be $137,500.

The second feature is a 10 year feature. The annuitant (owner) of the policy receives simple interest bump of 14% per year for 10 years growing his annuitization base to $214K at the end of year 10. This person would receive a monthly check based on the 214K or a little over twice the amount he/she would have received had he/she annuitized the 100K.

There are other aspects involved in the annuity. For example, there is a no fee clause until a person begins to annuitize. If he/she bought the guaranteed life income rider the charge for that rider occurs at the time of annuitization. If they withdrew their funds prior to either the 3 year or 10 year program there would be an early withdrawal penalty depending on their age.

This product is clearly designed for a person like the person I mentioned. He wanted his $$$ to receive as much guaranteed interest as possible for the next 3 years at which time he was gonna turn on the income valve. The "bump" feature of this product is guaranteed so it met his criteria.

Obviously I've given you a long winded answer. However, I don't know how else to explain the product so I don't violate any laws since I am licensed.

Annuities are generally a long term hold type of investment. My wife has 2 that she will annuitize when she reaches 70 (longevity reigns in her family). That gives one more income stream for her "golden" years. This is by design. She simply sits and waits while they grow at a guaranteed rate. Then, bingo, she turns on the income valve.

I've already annuitized one for myself. The extra income stream fits in nicely as it pays those non stop pain in the ass bills that show their ugly head every month. That means I don't have to dip into my other income streams. Nice.

Is it for everybody? I don't know as I don't know everybody. Hope I at least touched on an answer that satisfies your question.

[Glenn]

You is not alone - Sandalwood,

So I am helping a neighbor.

We go to a propane place to fill his Propane Tank which fits in my trunk.

Go in.

Big room with 6 ladies calling local businesses
who use propane.

#1 - I walk from station to station and Hand out Instant Scratch Off LOTTO
TICKETS.

#2 - I Point at the White Board with REALLY Bad Sales close
phrases on it.

Say, "Instead of an unproven Trial Close - what do you think of THIS ONE
used by a lady to sell 40 Million dollars of Steinway Pianos.

"After hearing me play the pianos
that match your personality - what are your thoughts?"

NOBODY WROTE it down.

#3 - I Tested a little further.

I asked the Manager, "So in your tracking - which Trial close works best
right now?

ANSWER - "We don't track."

OH
My
GAWD.

#4 - As I am leaving I asked the room, "Did anyone notice how I sold
five of you a LOTTO TICKET?

BLANK STARES.

Wow.

It was like I was Speaking to ALIENs.

Thanks,
Glenn

Here is a link to The Piano Super Sales Star...

And who just retired.

And whose Steinway employer is too STUPID to hire as a sales consultant.

https://www.linkedin.com/in/ericavanderlindefeidner

Originally Posted by Glenn

You is not alone - Sandalwood,

So I am helping a neighbor.

We go to a propane place to fill his Propane Tank which fits in my trunk.

Go in.

Big room with 6 ladies calling local businesses
who use propane.

#1 - I walk from station to station and Hand out Instant Scratch Off LOTTO
TICKETS.

#2 - I Point at the White Board with REALLY Bad Sales close
phrases on it.

Say, "Instead of an unproven Trial Close - what do you think of THIS ONE
used by a lady to sell 40 Million dollars of Steinway Pianos.

"After hearing me play the pianos
that match your personality - what are your thoughts?"

NOBODY WROTE it down.

#3 - I Tested a little further.

I asked the Manager, "So in your tracking - which Trial close works best
right now?

ANSWER - "We don't track."

OH
My
GAWD.

#4 - As I am leaving I asked the room, "Did anyone notice how I sold
five of you a LOTTO TICKET?

BLANK STARES.

Wow.

It was like I was Speaking to ALIENs.

Thanks,
Glenn

Here is a link to The Piano Super Sales Star...

And who just retired.

And whose Steinway employer is too STUPID to hire as a sales consultant.

https://www.linkedin.com/in/ericavanderlindefeidner

Too bad for the piano store owner. Sometimes **** happens even when one has the best of intentions. Since I don't push selling at the gym, I don't worry about these rejections as they can't be rejections given the circumstance. He asked me if I had a product I said yes and his mind snapped shut. Works that way sometimes. Who the hell believes there is such a product? Kind of like the piano sales lady. She uses her magic and her boss can't see, feel or hear it. Oh well...

Thanks for the story. Always good to be reminded one should keep mentally prepared. My event and your story poked my grey matter to not presume.

Again, thanks.