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Health & Income Payments
How Health can directly affect Income payments |
Some people think of Annuities as a four letter word! It is my belief that this was in some way contributed to be the Securities Dealers and Stock Brokers of the world.
The reality is that it is YOUR money, and the only thing it is really good for is what it can provide for you in the form of regular and consistent income.
What one does with that income can differentiate them from the fool whose money is soon parted and the educated buyer. When I mention the words Pension or Social Security Check, or Lottery, do these terms evoke positive or negative feelings? I have never met anyone yet that gave back their Pension or Social Security Checks! Come to think of it, I never knew anyone that won the Lottery either, but that’s neither here or there. If you did win the lottery, and they gave you $25,000/year for the next 20-years I’ll bet you’d take that too! And so it is with Annuities, they are all about income.
Your Pension is an Annuity. Your Social Security is an Annuity. So what’s so wrong with Annuities aside from the fact that your Stock Broker can’t call you up and say he’s moving the money over here for this that or the other reason? Of course it is all for your benefit by the way.
Pensions and Social Security make up the largest forms of regular sustainable and counted on income in America. So what does Health have to do with anything? (see my free report on why you should never annuitize your deferred annuity.) The fact is that if you are currently dealing with some form of health issue like Diabetes, Heart Disease, Cancer, etc. these issues can serve to actuarially shorten your life span. Therefore, a medically underwritten Annuity can serve to increase your payment because annuity companies determine their payouts base on how long they expect you to live.
With an actual review of your medical history it is possible to get an Annuity company to shorten your Life Span up to 16 years. (most I have seen) I have a client that is 72 and was age rated to age 88. This was like saying he was already deceased! The payout was fabulous. A $100,000 deposited yielded an equivalent payout of 17.4% or $17,400 per year guaranteed for the rest of his life!
So if you are considering annuitizing, call me first! You’ll be glad you did.
By the way this clients company was going to give him payments of $7,200 per year. (see my article on Insurance Arbitrage and learn how to protect your money. |
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