Lifetime Income Annuity | Single Or Joint Life? - YouTube

Hello, Stan The Annuity Man. America's annuity agent. License in all 50 states.

That would include yours. And yes, I do sell annuities but only if they're

appropriate and suitable. Let's talk about lifetime income annuities and

whether you should set it up single life or joint life. But we're only going to do

that after i listen to this music now.

Okay. So, you're looking at a lifetime income annuity. I mean you're saying to

yourself, "Should I do a single life or should I do a joint life? Which one's

better?" Okay, here's the bottom line: With annuities, there's no perfect answers,

just bad sales pitches, right? Nod your head, producer. It's true. It is absolutely

true. There's no perfect answer. It's customizable to what you want it to be.

So, let's cover single life. Let's jump over here and do single life. So,

single life is sown your life. You can structure it life only which means

that's going to be the highest contractual payment. Why? Because your shoulding some

of the risk. And when your Ferrari hits the 3 money goes poof. Evil annuity

company keeps the money. But you had the highest payment while you're alive. Is

that the only way to structure it? Absolutely not. You can structure so that

100%C of the money goes to your listed beneficiaries of the policy

when you pass away. You can set up life with cash refund or life with

installment refund. The difference between those 2 is pretty

self-explanatory. Cash refund means your beneficiaries get a lump sum. Installment

refund means that they're going to get payments until the money's exhausted. But

in both cases the evil annuity company doesn't keep a penny. You can also do

what's called life with a period certain. You can choose the year. So, you could do

life with 10 years certain or life with 20 year certain or life with 30 year

certain whatever or life with 17 year certain. You could pick a weird

number like that. What that means it's going to pay you for the rest of your life.

But let's just say you die early in a contract that's life with a 17-year

period certain. Let's just say you died you're 5, there will be 12 more

years of payments. So, once again, customizable. So, let's jump over here to

joint life. See? Single life, joint life. Joint life means that you construct it

with you and your spouse to you and your partner. You and your kid, you and whoever,

okay? Now, with in an IRA, you can structure what you and your spouse or

partner. But what joint life means is it's going to pay for both lives. So, what

I like about that is let's just say you're me, you bought... Married to me

for 31 years you're saying, "There's no way. Anyone could be married to you for

31 years." it's true. So, you got a joint life. And I pass away. And the money, the

income stream was coming in while I was alive. Well, guess what? It's

still going to come in uninterrupted and unchanged for my wife's life regardless

of how long she lives. Always tell the story.. And guy called me the other day, he

goes, "I'm really looking to take care of my wife

because she really doesn't care about investments. I just want to make sure

that she has enough money to go see the grandkids. And that's going to be my wife

when we have grandkids." So, he wanted to make sure that that money

was going to come in to her same amount uninterrupted and unchanged. I said, just

think about think about it like this, Ernie. You die, she goes to the funeral.

She sings the song and everyone's crying. But she gets back in the car, right? And

she drives home and she passes the bank where the the in immediate annuity,

lifetime income annuity payments hit every month and she glances at the bank,

she's going to know that that payments going to be the same. He loved that. That's

exactly what he wanted. And then we structured the backside of that so that

when she passed away, any unused money went to the grandchildren. Skip the

children. Ha! How about that? So you can do that. You can just customize it either

way. So, let's go back over to the single life, right? Single. What's that song single

life? No, I'm not going to sing that. But it was kind of a disco song. Single life is

based on your life expectancy at the time you take the payments. Interest

rates play a secondary role. The income stream is a combination of return of

principal plus interest. And let's just say that you live forever and the

accounts at zero. So, you've drawn down you know principal plus interest. So, you've

drawn down that amount to zero. What happens? You know what happens? They're on

the hook to pay for the rest of your life. "They", meaning the annuity company. So,

even if the accounts at zero, they're going to pay. There's no ROI, return on

investment calculation until you die. And that's the benefit proposition that only

annuities can offer. So, let's go back over here to joint life. So, joint life.

It's based on two lies at the time you take the payment. Again, you can tell us

when you want that to be. We can give it a contractual number to the penny. And

lifetime income doesn't always mean single premium immediate annuity or

deferred income annuity. It can also mean a QLAC. a qualified longevity

annuity contract. Or you can also get a lifetime income stream from an income

rider which is an attached benefit to a deferred annuity like

a variable annuity or indexed annuity. I know I'm hitting you with all this stuff

so let's go back in kind of the middle. Single life over here, joint life over

here. You're looking for a lifetime income annuity. So, how do you get there?

Which product fits? For income now, it's it's an immediate annuity. So, you ask

2 questions: What do you want the money to contractually do? And when do you want

those contractual guarantees to start? Got it? Let me do it again. What do you

want the money to contractually do? When you want this contractual guarantees to

start? So, if the answer is "I need income." Second part of that answer is "I need

income now." That's an immediate annuity. So, if you answer the question "What do

you want the money to contractually do?", I need income to start down the road. And

you say, "Well, when do you want that income to start?" I need to start in 10

years. Okay, great. You need an income later quote which would be either an

income rider attached to a deferred annuity. Like a variable or indexed

annuity. Or a deferred income annuity or a qualified longevity annuity contract. I

know what you're saying. "Wow, that's a lot. That's a lot coming at me." That's why I'm

here. Okay? That's the reason you need to go to

theannuityman.com and use our proprietary annuity calculators to shop

for the best contractual guarantee for your specific situation. And when I say

your specific situation, that means customized to what you're

trying to achieve. So, if you need income to start at a certain date or your

date of birth or your wife's date of birth, we can run that. If you need an

income stream a specific monthly amount coming in every single month, we can

reverse engineer the quote to provide the highest contractual guarantee. And

the company's bid on that. That's the great part about annuities. They're

commodity products. And these companies will bid on your specific situation. And

those specific quote parameters that you give to us that we put in the

calculators to provide that quote for you. So, I get a call the other day and

gentlemen said, "My wife and I both have IRAs. We need income now." They'd gone

through the 2 questions. And they needed income to start immediately. But

they were wondering should they do a joint life policy in each IRA? So, you

know, his IRA would be joint with her. And her IRA would be joint with him. Made

sense. But also said, "Think about this, why don't you do a single life policy in

each and have each of you the beneficiaries of the IRA?

You get a higher payout." And they ended up going in that direction. That's not

saying it's the best way to do it. But when you come to us, I'm going to provide

you alternative thoughts to what you're thinking. So, they came in thinking,

"We might want to do a joint life in both IRAs." And I say, "You know what? Based on

your specific situation, the income that you have coming in, your overall

investment picture, you might want to do a single life. Because single life pays

higher than joint life because it's only on one life, right?" The annuity company is

on the hook to pay for one life. So, they chose that and they structured it life

with cash refund so that any unused money went to that spouse as the

beneficiary. And it worked out because they got a pretty good bump on the

income as compared to if they did both of those annuities joint life. Okay, I'm

going to talk about the t-shirt "kill your TV." Don't kill your YouTube channel.

Because it's my YouTube channel. I'm putting out a video every single day. By

the way, one video you want to watch this is about pension annuities I just did

one on that which is immediate annuities. But you can set up your own personal

pension plan. I know the music's running but I want to tell you about this. The

6 books. The 6 owner's manuals that I will send you for free and under no

obligation if you fill out the information and it will come in this

gold foil... It's kind of like my shirt. Willy Wonka package. And we'll send that

to you for free. So, see you next time.