Home › Forums › Financial Markets/Economics › Need advise…Allianz variable annuities
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October 23, 2009 at 7:37 AM #473425October 23, 2009 at 9:29 AM #472676
Allan from Fallbrook
Participant[quote=chupee]Yes my friend my typing skills are horrific that why i have a sec and actually im a much better pianist then a typist actually an award winning composr but thats a diff thread , While Im sure there are many on here with more experience then my 23 years there are very few who beat my PERORMANCE if they are emploring any of the strategies i see spoken of here. i spent 20 years at the larget new York firms and worked with the largest money manager in the country thru the 90’s and into 2001 and BOTTOM LINE they all got killed while charging their 1-2 % fee. THe truth has started to leak into the press as we see with the Wharton Proof of indexed Annuities beating most classes . Ed Slott Waren Buffet are all NOW stating fixd annuities as well as Indexed annuities have a valid place in a retirement portfolio. so until i can see a guaranteeed startegy that will not allow my clients to be subjected to the LOSSES im sure youre clients have had to stomach grammer and sentence structure are really of little interest to me[/quote]
Chupee: Yeah, well, I’m no longer on the corporate side. I do blast engineering now and my clients are more concerned with things other annuity purchases.
I will say this, though, and it comes from having worked with players ranging from Montgomery Street Securities in San Francisco to Bear Stearns in NYC: If you weren’t selling annuities, you’d be selling cars or refrigerators or timeshares in Cabo.
From the “stock jocks” to the VUL “specialists”, nearly ALL of you suffer from two things: (1) Lack of knowledge about your product(s) and (2) Willingness to do anything to hit your sales targets.
So, that blowhard attitude of yours is nothing new. And, I’d wager your “results”, like all of the other results, have the substance of wind.
I’m sure you’re quite the virtuoso pianist, as well as a composer along the lines of Beethoven. I’d be willing to bet you have an award winning wine cellar and a library to make the pharaohs weep. Your automobile collection is eclectic, yet reflects your stunning taste, as is your coterie of female admirers.
Anyhoo. Keep tossing the bullshit, my friend, eventually some will stick to the wall.
October 23, 2009 at 9:29 AM #472854Participant[quote=chupee]Yes my friend my typing skills are horrific that why i have a sec and actually im a much better pianist then a typist actually an award winning composr but thats a diff thread , While Im sure there are many on here with more experience then my 23 years there are very few who beat my PERORMANCE if they are emploring any of the strategies i see spoken of here. i spent 20 years at the larget new York firms and worked with the largest money manager in the country thru the 90’s and into 2001 and BOTTOM LINE they all got killed while charging their 1-2 % fee. THe truth has started to leak into the press as we see with the Wharton Proof of indexed Annuities beating most classes . Ed Slott Waren Buffet are all NOW stating fixd annuities as well as Indexed annuities have a valid place in a retirement portfolio. so until i can see a guaranteeed startegy that will not allow my clients to be subjected to the LOSSES im sure youre clients have had to stomach grammer and sentence structure are really of little interest to me[/quote]
Chupee: Yeah, well, I’m no longer on the corporate side. I do blast engineering now and my clients are more concerned with things other annuity purchases.
I will say this, though, and it comes from having worked with players ranging from Montgomery Street Securities in San Francisco to Bear Stearns in NYC: If you weren’t selling annuities, you’d be selling cars or refrigerators or timeshares in Cabo.
From the “stock jocks” to the VUL “specialists”, nearly ALL of you suffer from two things: (1) Lack of knowledge about your product(s) and (2) Willingness to do anything to hit your sales targets.
So, that blowhard attitude of yours is nothing new. And, I’d wager your “results”, like all of the other results, have the substance of wind.
I’m sure you’re quite the virtuoso pianist, as well as a composer along the lines of Beethoven. I’d be willing to bet you have an award winning wine cellar and a library to make the pharaohs weep. Your automobile collection is eclectic, yet reflects your stunning taste, as is your coterie of female admirers.
Anyhoo. Keep tossing the bullshit, my friend, eventually some will stick to the wall.
October 23, 2009 at 9:29 AM #473213Participant[quote=chupee]Yes my friend my typing skills are horrific that why i have a sec and actually im a much better pianist then a typist actually an award winning composr but thats a diff thread , While Im sure there are many on here with more experience then my 23 years there are very few who beat my PERORMANCE if they are emploring any of the strategies i see spoken of here. i spent 20 years at the larget new York firms and worked with the largest money manager in the country thru the 90’s and into 2001 and BOTTOM LINE they all got killed while charging their 1-2 % fee. THe truth has started to leak into the press as we see with the Wharton Proof of indexed Annuities beating most classes . Ed Slott Waren Buffet are all NOW stating fixd annuities as well as Indexed annuities have a valid place in a retirement portfolio. so until i can see a guaranteeed startegy that will not allow my clients to be subjected to the LOSSES im sure youre clients have had to stomach grammer and sentence structure are really of little interest to me[/quote]
Chupee: Yeah, well, I’m no longer on the corporate side. I do blast engineering now and my clients are more concerned with things other annuity purchases.
I will say this, though, and it comes from having worked with players ranging from Montgomery Street Securities in San Francisco to Bear Stearns in NYC: If you weren’t selling annuities, you’d be selling cars or refrigerators or timeshares in Cabo.
From the “stock jocks” to the VUL “specialists”, nearly ALL of you suffer from two things: (1) Lack of knowledge about your product(s) and (2) Willingness to do anything to hit your sales targets.
So, that blowhard attitude of yours is nothing new. And, I’d wager your “results”, like all of the other results, have the substance of wind.
I’m sure you’re quite the virtuoso pianist, as well as a composer along the lines of Beethoven. I’d be willing to bet you have an award winning wine cellar and a library to make the pharaohs weep. Your automobile collection is eclectic, yet reflects your stunning taste, as is your coterie of female admirers.
Anyhoo. Keep tossing the bullshit, my friend, eventually some will stick to the wall.
October 23, 2009 at 9:29 AM #473289Participant[quote=chupee]Yes my friend my typing skills are horrific that why i have a sec and actually im a much better pianist then a typist actually an award winning composr but thats a diff thread , While Im sure there are many on here with more experience then my 23 years there are very few who beat my PERORMANCE if they are emploring any of the strategies i see spoken of here. i spent 20 years at the larget new York firms and worked with the largest money manager in the country thru the 90’s and into 2001 and BOTTOM LINE they all got killed while charging their 1-2 % fee. THe truth has started to leak into the press as we see with the Wharton Proof of indexed Annuities beating most classes . Ed Slott Waren Buffet are all NOW stating fixd annuities as well as Indexed annuities have a valid place in a retirement portfolio. so until i can see a guaranteeed startegy that will not allow my clients to be subjected to the LOSSES im sure youre clients have had to stomach grammer and sentence structure are really of little interest to me[/quote]
Chupee: Yeah, well, I’m no longer on the corporate side. I do blast engineering now and my clients are more concerned with things other annuity purchases.
I will say this, though, and it comes from having worked with players ranging from Montgomery Street Securities in San Francisco to Bear Stearns in NYC: If you weren’t selling annuities, you’d be selling cars or refrigerators or timeshares in Cabo.
From the “stock jocks” to the VUL “specialists”, nearly ALL of you suffer from two things: (1) Lack of knowledge about your product(s) and (2) Willingness to do anything to hit your sales targets.
So, that blowhard attitude of yours is nothing new. And, I’d wager your “results”, like all of the other results, have the substance of wind.
I’m sure you’re quite the virtuoso pianist, as well as a composer along the lines of Beethoven. I’d be willing to bet you have an award winning wine cellar and a library to make the pharaohs weep. Your automobile collection is eclectic, yet reflects your stunning taste, as is your coterie of female admirers.
Anyhoo. Keep tossing the bullshit, my friend, eventually some will stick to the wall.
October 23, 2009 at 9:29 AM #473515Participant[quote=chupee]Yes my friend my typing skills are horrific that why i have a sec and actually im a much better pianist then a typist actually an award winning composr but thats a diff thread , While Im sure there are many on here with more experience then my 23 years there are very few who beat my PERORMANCE if they are emploring any of the strategies i see spoken of here. i spent 20 years at the larget new York firms and worked with the largest money manager in the country thru the 90’s and into 2001 and BOTTOM LINE they all got killed while charging their 1-2 % fee. THe truth has started to leak into the press as we see with the Wharton Proof of indexed Annuities beating most classes . Ed Slott Waren Buffet are all NOW stating fixd annuities as well as Indexed annuities have a valid place in a retirement portfolio. so until i can see a guaranteeed startegy that will not allow my clients to be subjected to the LOSSES im sure youre clients have had to stomach grammer and sentence structure are really of little interest to me[/quote]
Chupee: Yeah, well, I’m no longer on the corporate side. I do blast engineering now and my clients are more concerned with things other annuity purchases.
I will say this, though, and it comes from having worked with players ranging from Montgomery Street Securities in San Francisco to Bear Stearns in NYC: If you weren’t selling annuities, you’d be selling cars or refrigerators or timeshares in Cabo.
From the “stock jocks” to the VUL “specialists”, nearly ALL of you suffer from two things: (1) Lack of knowledge about your product(s) and (2) Willingness to do anything to hit your sales targets.
So, that blowhard attitude of yours is nothing new. And, I’d wager your “results”, like all of the other results, have the substance of wind.
I’m sure you’re quite the virtuoso pianist, as well as a composer along the lines of Beethoven. I’d be willing to bet you have an award winning wine cellar and a library to make the pharaohs weep. Your automobile collection is eclectic, yet reflects your stunning taste, as is your coterie of female admirers.
Anyhoo. Keep tossing the bullshit, my friend, eventually some will stick to the wall.
October 23, 2009 at 2:40 PM #472833CricketOnTheHearth
ParticipantDamn, I don’t have a house yet.
Chupee’s timing is rotten. I could have used all that to fertilize my garden.
Oh, well.
October 23, 2009 at 2:40 PM #473008ParticipantDamn, I don’t have a house yet.
Chupee’s timing is rotten. I could have used all that to fertilize my garden.
Oh, well.
October 23, 2009 at 2:40 PM #473374ParticipantDamn, I don’t have a house yet.
Chupee’s timing is rotten. I could have used all that to fertilize my garden.
Oh, well.
October 23, 2009 at 2:40 PM #473449ParticipantDamn, I don’t have a house yet.
Chupee’s timing is rotten. I could have used all that to fertilize my garden.
Oh, well.
October 23, 2009 at 2:40 PM #473671ParticipantDamn, I don’t have a house yet.
Chupee’s timing is rotten. I could have used all that to fertilize my garden.
Oh, well.
October 23, 2009 at 8:40 PM #472959Anonymous
Guest[quote=chupee]
State insurance funds, which depend on premiums paid by individual insurers, will be called on to make up any shortfalls in policyholder payments by Executive Life’s new buyer.
[/quote]
True, the Insurance Commissioner will try to clean up the shrapnel if you pick the wrong long company for a long term annuity, but he won’t necessarily make you whole. Here’s the L.A. Times coverage of the Executive Life debacle:
Highlights inclue
After taking control of the company, California Insurance Commissioner John Garamendi ordered Executive Life to cut all annuity payments–including those bought by companies after terminating pension plans–to conserve the insurer’s inadequate funds. (…)
If Garamendi can’t find other insurance companies to buy Executive Life, the firm might be forced into insolvency. The California guarantee fund, which began operation on Jan. 1, would come into play. But it has sharply defined limits, paying 80% of a policy, up to a maximum of $250,000 for death benefits and $100,000 for an annuity. For a corporate pension annuity, the maximum payout is $5 million under the state fund.
Garamendi already has decided that one Executive Life product–the guaranteed investment contract–doesn’t qualify for protection under the state fund because it isn’t a true insurance vehicle. The contracts, popularly called GICs, are sold in multimillion-dollar units to businesses and public agencies. The attraction was the “guaranteed” high-interest rate, which was guaranteed only by Executive Life’s financial health.
I’ll certainly agree with you that annuities can be a useful part of a long term financial plan, but the retail buyer often gets taken to the cleaners due to their lack of knowledge of the products, the commission structures, and the soundness of the issuer.
(And I’ll agree that the information in the article regarding the state fund does not accurately describe the fund’s limitations today)
October 23, 2009 at 8:40 PM #473141Guest[quote=chupee]
State insurance funds, which depend on premiums paid by individual insurers, will be called on to make up any shortfalls in policyholder payments by Executive Life’s new buyer.
[/quote]
True, the Insurance Commissioner will try to clean up the shrapnel if you pick the wrong long company for a long term annuity, but he won’t necessarily make you whole. Here’s the L.A. Times coverage of the Executive Life debacle:
Highlights inclue
After taking control of the company, California Insurance Commissioner John Garamendi ordered Executive Life to cut all annuity payments–including those bought by companies after terminating pension plans–to conserve the insurer’s inadequate funds. (…)
If Garamendi can’t find other insurance companies to buy Executive Life, the firm might be forced into insolvency. The California guarantee fund, which began operation on Jan. 1, would come into play. But it has sharply defined limits, paying 80% of a policy, up to a maximum of $250,000 for death benefits and $100,000 for an annuity. For a corporate pension annuity, the maximum payout is $5 million under the state fund.
Garamendi already has decided that one Executive Life product–the guaranteed investment contract–doesn’t qualify for protection under the state fund because it isn’t a true insurance vehicle. The contracts, popularly called GICs, are sold in multimillion-dollar units to businesses and public agencies. The attraction was the “guaranteed” high-interest rate, which was guaranteed only by Executive Life’s financial health.
I’ll certainly agree with you that annuities can be a useful part of a long term financial plan, but the retail buyer often gets taken to the cleaners due to their lack of knowledge of the products, the commission structures, and the soundness of the issuer.
(And I’ll agree that the information in the article regarding the state fund does not accurately describe the fund’s limitations today)
October 23, 2009 at 8:40 PM #473503Guest[quote=chupee]
State insurance funds, which depend on premiums paid by individual insurers, will be called on to make up any shortfalls in policyholder payments by Executive Life’s new buyer.
[/quote]
True, the Insurance Commissioner will try to clean up the shrapnel if you pick the wrong long company for a long term annuity, but he won’t necessarily make you whole. Here’s the L.A. Times coverage of the Executive Life debacle:
Highlights inclue
After taking control of the company, California Insurance Commissioner John Garamendi ordered Executive Life to cut all annuity payments–including those bought by companies after terminating pension plans–to conserve the insurer’s inadequate funds. (…)
If Garamendi can’t find other insurance companies to buy Executive Life, the firm might be forced into insolvency. The California guarantee fund, which began operation on Jan. 1, would come into play. But it has sharply defined limits, paying 80% of a policy, up to a maximum of $250,000 for death benefits and $100,000 for an annuity. For a corporate pension annuity, the maximum payout is $5 million under the state fund.
Garamendi already has decided that one Executive Life product–the guaranteed investment contract–doesn’t qualify for protection under the state fund because it isn’t a true insurance vehicle. The contracts, popularly called GICs, are sold in multimillion-dollar units to businesses and public agencies. The attraction was the “guaranteed” high-interest rate, which was guaranteed only by Executive Life’s financial health.
I’ll certainly agree with you that annuities can be a useful part of a long term financial plan, but the retail buyer often gets taken to the cleaners due to their lack of knowledge of the products, the commission structures, and the soundness of the issuer.
(And I’ll agree that the information in the article regarding the state fund does not accurately describe the fund’s limitations today)
October 23, 2009 at 8:40 PM #473577Guest[quote=chupee]
State insurance funds, which depend on premiums paid by individual insurers, will be called on to make up any shortfalls in policyholder payments by Executive Life’s new buyer.
[/quote]
True, the Insurance Commissioner will try to clean up the shrapnel if you pick the wrong long company for a long term annuity, but he won’t necessarily make you whole. Here’s the L.A. Times coverage of the Executive Life debacle:
Highlights inclue
After taking control of the company, California Insurance Commissioner John Garamendi ordered Executive Life to cut all annuity payments–including those bought by companies after terminating pension plans–to conserve the insurer’s inadequate funds. (…)
If Garamendi can’t find other insurance companies to buy Executive Life, the firm might be forced into insolvency. The California guarantee fund, which began operation on Jan. 1, would come into play. But it has sharply defined limits, paying 80% of a policy, up to a maximum of $250,000 for death benefits and $100,000 for an annuity. For a corporate pension annuity, the maximum payout is $5 million under the state fund.
Garamendi already has decided that one Executive Life product–the guaranteed investment contract–doesn’t qualify for protection under the state fund because it isn’t a true insurance vehicle. The contracts, popularly called GICs, are sold in multimillion-dollar units to businesses and public agencies. The attraction was the “guaranteed” high-interest rate, which was guaranteed only by Executive Life’s financial health.
I’ll certainly agree with you that annuities can be a useful part of a long term financial plan, but the retail buyer often gets taken to the cleaners due to their lack of knowledge of the products, the commission structures, and the soundness of the issuer.
(And I’ll agree that the information in the article regarding the state fund does not accurately describe the fund’s limitations today)
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