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April 30, 2012 at 08:00 PM
Editor’s Note: The case of Glenn Neasham, the California insurance agent convicted of felony theft for selling an annuity to an 83-year-old woman, has created a firestorm in the insurance industry. We’ve included some of the recent comments here from our readers. For a more comprehensive look at the case go to LifeHealthPro.com and ProducersWeb.com.
Unfortunately, so many, including some in our profession, the media and many others, don’t grasp the real benefits of annuities. And, unfortunately, our legal system is not always just and they convict many innocent people or falsely accuse and sentence.
While many discredit annuities here’s some information everyone should consider:
- It is so obvious: the Golden Years now require more retirement income over an increasing time span.
- In Dr. Eric Plasker’s book, “The 100 Year Lifestyle,” he reveals the fastest growing age group in America is now age 100-plus. There will soon be 4 million people over 100.
- How many of us plan financially to live to age 100-plus?
- The annuity is the only money contract that can assure and guarantee income for life to age 100 and beyond.
Universities and economists around the globe have concluded and documented that income annuities can assure an income for life at a cost as much as 40 percent less than a traditional stock, bond and cash mix. That means we could enjoy the same income with continued growth on 40 percent of our retirement income for future increases in retirement income.
