The FinancialVerse - Today's Annuity Products: A Tool To Create Protected Lifetime Income

(Paperback)

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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.

Author Bio

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.