Annuity Examples | Transfer Annuities The Right Way - YouTube

Hi there! Stan The Annuity Man, America's  Annuity Agent, licensed in all 50 states.  

Glad you join me. We're going to talk about  some annuity examples, transferring annuities  

the right way. With some annuities, you can  transfer them. Some annuity types, you cannot  

transfer them which means that I just voided  out that I hate all annuities thing because  

there's not just one annuity. I like when people  say, "Never buy an annuity." You mean like all  

of them? All types of annuities? Are you just  broad brushing that statement? You know, I hear  

a lot of people say that that's just garbage or  garbage as they say in french. Let's get down and  

dirty with this. I'm going to talk about annuity  transfers because if you own one, then you need to  

understand this before you get pitched to move it.  We're not going to do anything until the music.

Alright. So, let's get down and dirty till I  hate all that like "Don't never buy an annuity.  

I hate all the annuity." Come on, okay? Let's go  through the types. There are some types that are  

not transferable. And those are the  single premium immediate annuities,  

deferred income annuities, and qualified  longevity annuity contracts. Those are what I  

call annuitization products. You rip the knob off  the water faucet, water is flowing. In this case,  

the income is flowing. So, you cannot transfer  those types, period. They're irrevocable  

lifetime income contracts. Now, some you  can do periods certain. But the majority  

are lifetime income. They're irrevocable.  You're ripping the knob off, you're going to  

get the income. Now, the 3 primary types that are  transferable are multi-year guarantee annuities,  

that's a cd type. It's the annuity industry's  version of a cd. Fixed indexed annuities which  

is another cd type product, a fixed annuity.  And then variable annuities. Disclaimer: I don't  

sell variable annuities. I don't have anything  against them. I just don't sell anything that has  

the potential to go down in value. My mantra  is you own an annuity for what it will do,  

not what it might do. And the will do or the  contractual guarantee. So, all I look at are  

the contractual guarantees. I never look at the  hypothetical, theoretical, projected, back-tested,  

hopeful agent return scenario, unicorns chasing  the butterfly things that you see there. [???]

If it sounds too good to be true, it is every  single time with annuities. Annuities are  

contracts. I mean, period. That's the end of the  story. So, when we're talking about transferring  

annuities, let's talk about the ones that can be  transferred. Multi-year guarantee annuities, fixed  

index annuities, variable annuities. I'm going to  talk about variable news from a broad standpoint  

of disclaimer because I don't sell them. So, I'm  not going to talk about the investment. So, I'm  

going to talk about the broad picture of should  you transfer. Now, the first thing that you need  

to understand about transfer and annuities is just  because you can transfer doesn't mean you should  

transfer an annuity. Annuity companies are smart.  Life insurance companies that issue annuities are  

smart. They typically design the policies, a lot  of the ones that you can transfer so that it makes  

it hard to transfer them. What do I mean by that?  If you attach an income rider or a death benefit  

rider or some type of rider means an attached  benefit to the policy, that's not transferable.  

Let me repeat that. When you attach a rider to a  policy... And I'm talking about with MYGAs, fixed  

index annuities, variable annuities. And most of  times, it's indexed and variable. When you attach  

a rider that rider guarantee is not transferable.  Period. What's transferable is that accumulation  

value. So, with the indexed annuities, that  call option strategy on the variable, it's the  

mutual fund support accounts, whatever you want  to call them. That's what's transferable. Now,  

life insurance companies have the big buildings  for a couple reasons. The primary one is they know  

when we're going to die, right? The second reason  they have the big buildings is they design these  

policies so it's hard to get rid of them. I mean,  rid of them, transfer them. You can't transfer  

those riders. So, when those riders are attached,  in order to access that benefit, you have to stay  

in the policy. So, if someone comes up to you and  says, "Well, your variable or index annuities pass  

surrender charge will let's transfer it." No. It's  not that simple and it's not that basic. Let me  

explain it another way. When you go through the  application process, let's just say you decide to  

transfer an annuity, whether it's a variable,  MYGA, index, whatever and you say let's transfer  

it. During the application process, my team who  is fantastic during the application process,  

they have to do a side-by-side comparison  comparing the benefits that you're leaving to the  

benefits that you're going to. And it has to be  in your mathematical favor in order to transfer,  

period. End of story. So, those riders that  are attached to your policy, do not transfer,  

most likely to transfer to another annuity is  going to be a tough. It's going to be a big hill  

to climb. Because the annuity company that's  receiving it, they're not going to accept the  

transfer if you're leaving the benefits on the  table at the other annuity that you're coming  

from and it's not more than where you're going  to. Do I say that right? I think so. Yeah, you  

know what I'm talking about. So, just because you  transfer it, doesn't mean you can. Now, typically,  

the transfers have to be in the same plating. Like  if you're the owner, it has to be transferred to  

another annuity. If it all works out, if this  is contractually better for you, same plating,  

etc. I get a question all the time. Got a question  of the day, "Can you change the annuitant?" Like  

can you transfer for one annuity and then when  you get to the new annuity can you change the  

annuity. By the way, annuitant is the person or  persons that the income stream is based off, life  

expectancy at the time you take the payment. The  answer to that question is not all companies will  

allow you to change that annuitant. So, there's a  lot of work to do. And that's the reason you have  

to schedule call with me at theannuityman.com to  make sure that the proposed transfer is in your  

favor. We certainly will do that. We'll shoot it  straight. We'll tell you the brutal facts. I'm the  

walking middle finger of annuity truth. You know  that I'm not going to just to transfer. I'm going  

to transfer it if we can do better somewhere else  contractually. Now, which leads me to a lot of the  

sales pitches that are out there when it comes to  transferring annuities. And doing it right. The  

way to do it wrong is if someone says to you the  following: "Let's transfer this annuity because  

the annuity that you're going to gives you an  upfront bonus to transfer." If they say that,  

number one, it's illegal. And number 2, they  could lose their license if they're found out  

about it. Annuity carriers never want agents  saying that. But do agents say that? Yes.  

Listen, annuity upfront bonuses. That's not  free money. That's just part of the overall  

contractual guarantee. 100 pennies in the dollar.  Nod your head. This sounds too good to be true,  

it is every single time. Yes. Never ever, ever,  ever, ever, ever, ever transfer an annuity  

under the assumption that the upfront bonus is  either gonna make up for the surrender charges  

or whatever. And the upfront bonus is nothing more  than the overall contractual guaranteed picture.  

It's candy for the stupid. Don't be stupid,  okay? There's no philanthropist at annuity  

companies giving money away. If the bonus that's  the overall contractual guarantee of the where  

you're going to from a transfer standpoint, if  that overall contractual guarantee is better than  

where you're coming from, then great. But you do  not ever do it. I see this a lot. He said, "Well,  

he's proposing to transfer the annuity because  the bonus will make up for the surrender charges."  

Lose your license, agent. Game over. That  cannot happen. And there's a lot of people  

that are doing that out there. Also, too. I would  recommend you if someone's proposing that change  

and they do that... First of all, you should use  me. Not that garbage is ever going to happen. But  

let's just say you use your friend, your golfing  buddy to sell annuities, ask for a copy of that  

application. Because the only way that some of  these transfers happen is if the application is  

doctored with, as they say. So, don't let  that happen. When you transfer annuities.  

It has to be in your mathematical favor, not  the agent. Alright. So, let me kind of go... I  

know went fast. Stan The Annuity Man has the  tendency to go 100 miles an hour verbally,  

right? I just did that right there. Let's go  through the annuities that can be transferred.  

Doesn't mean you should. And the annuities that  cannot. Annuities that cannot. Qualified longevity  

annuity contracts, deferred income annuities,  single premium immediate annuities. We clear? Nod  

your head. Okay. The annuities that can... Doesn't  mean you should. Multi-year guarantee annuities,  

okay? Fixed indexed annuities and variable  annuities. Those can don't mean you should.  

And remember, it has to be in your mathematical  favor to transfer from one annuity to the other.  

Now, let's talk about IRA and non-IRA.  If the annuity is held inside of an IRA,  

it's an IRA to IRA transfer if it's in your  favor. If it's a non-IRA, it's a 1035 exchange.  

1035, that refers to the IRS code that addresses  annuities can be transferred from one annuity to  

another using the 1035 IRS approved, non-taxable  event method. Now, 1031's real estate a lot of  

you out there real estate people. 1031 is real  estate, 1035 is annuity to annuity transfer in  

the non-taxable event. Once again, does it mean  you have to transfer. So, if you take anything  

from this, just because you transfer it, doesn't  mean you have to. It has to be in your favor from  

the one you're going from to the one you're going  to mathematically, contractually in your favor,  

okay? The next thing which is big. Don't transfer  anything unless you let me look at it. Let me  

look at that transfer. Or if you're thinking about  transferring something, let me look at the policy  

that you have and I'll shop every carry out there  to see if we can beat those contractual guarantees  

and it makes sense for you to transfer. I  will also tell you brutally and factually  

that you might need to stay. And if you do need to  stay, I'll tell you how to maximize the benefits  

that are in your current policy. So, I know  it's a lot. Key though is go to my site the  

annuityman.com if you're in that transfer mode.  Feeling kind of queasy. What you've been pitched.  

Run it by me. Schedule a call. I will help you  all the way down the street, all the way down  

the road. I will get you to a good decision where  you can make an informed decision on your terms,  

in your time frame. And the majority of the time,  spoiler alert, with a lot of these annuities with  

riders, you can't transfer them. You can't beat  those contractual guarantees. Sometimes you can  

and that's the reason we need to connect. But just  know that going forward, don't fall for the pitch  

of upfront bonuses and all that stuff. And we  also can look at the plating of it. You know,  

can you add an annuity, all those little details  that are very important, I can help with. So,  

listen, hit the subscribe button. I'll see  you on the next Stan The Annuity Man video.