Need advise…Allianz variable annuities

[Anonymous]

[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:

http://tinyurl.com/yhncwt6

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)

[chupee]

You guys really take your SALES gig way too serious .. as i thought no one wants to have a civil sit down and discuss and show a few statements and im sure you discount the Wharton School of business article also so what can i say . No im not beethoven just a pretty good composer so when the local La guys ae ready lets go to my favorie rest/ steak house called Mastros in bev Hills and lets have nice meal and see whos really hiding behind a chatroon .. who knows maybe we can do a seminar together. The bottom line is there is a war going on between the insuance industry and Finra and all you guys have been indoctrinated into equities that you really cant see the forest thru the trees . at the end o fthe day here is only ONE thing that matters how did the client do . i get cards and letters from all over the world from clients when they travel thankng me for saving their retirement and oher assets. They dont care how much the Ins paid me .. They didnt pay a penny and the fees are only taken from gainds so what can be beter then that ,, Just tell me and ill jump on your wagon ,, Trouble is have NEVERseen it .. so i go in pEace and offer is always open.. and by the way Cricketin the grass god help your clients Im sure your stomach turns when your phone rings.. best of Luck

[chupee]

You guys really take your SALES gig way too serious .. as i thought no one wants to have a civil sit down and discuss and show a few statements and im sure you discount the Wharton School of business article also so what can i say . No im not beethoven just a pretty good composer so when the local La guys ae ready lets go to my favorie rest/ steak house called Mastros in bev Hills and lets have nice meal and see whos really hiding behind a chatroon .. who knows maybe we can do a seminar together. The bottom line is there is a war going on between the insuance industry and Finra and all you guys have been indoctrinated into equities that you really cant see the forest thru the trees . at the end o fthe day here is only ONE thing that matters how did the client do . i get cards and letters from all over the world from clients when they travel thankng me for saving their retirement and oher assets. They dont care how much the Ins paid me .. They didnt pay a penny and the fees are only taken from gainds so what can be beter then that ,, Just tell me and ill jump on your wagon ,, Trouble is have NEVERseen it .. so i go in pEace and offer is always open.. and by the way Cricketin the grass god help your clients Im sure your stomach turns when your phone rings.. best of Luck

[chupee]

You guys really take your SALES gig way too serious .. as i thought no one wants to have a civil sit down and discuss and show a few statements and im sure you discount the Wharton School of business article also so what can i say . No im not beethoven just a pretty good composer so when the local La guys ae ready lets go to my favorie rest/ steak house called Mastros in bev Hills and lets have nice meal and see whos really hiding behind a chatroon .. who knows maybe we can do a seminar together. The bottom line is there is a war going on between the insuance industry and Finra and all you guys have been indoctrinated into equities that you really cant see the forest thru the trees . at the end o fthe day here is only ONE thing that matters how did the client do . i get cards and letters from all over the world from clients when they travel thankng me for saving their retirement and oher assets. They dont care how much the Ins paid me .. They didnt pay a penny and the fees are only taken from gainds so what can be beter then that ,, Just tell me and ill jump on your wagon ,, Trouble is have NEVERseen it .. so i go in pEace and offer is always open.. and by the way Cricketin the grass god help your clients Im sure your stomach turns when your phone rings.. best of Luck

[chupee]

You guys really take your SALES gig way too serious .. as i thought no one wants to have a civil sit down and discuss and show a few statements and im sure you discount the Wharton School of business article also so what can i say . No im not beethoven just a pretty good composer so when the local La guys ae ready lets go to my favorie rest/ steak house called Mastros in bev Hills and lets have nice meal and see whos really hiding behind a chatroon .. who knows maybe we can do a seminar together. The bottom line is there is a war going on between the insuance industry and Finra and all you guys have been indoctrinated into equities that you really cant see the forest thru the trees . at the end o fthe day here is only ONE thing that matters how did the client do . i get cards and letters from all over the world from clients when they travel thankng me for saving their retirement and oher assets. They dont care how much the Ins paid me .. They didnt pay a penny and the fees are only taken from gainds so what can be beter then that ,, Just tell me and ill jump on your wagon ,, Trouble is have NEVERseen it .. so i go in pEace and offer is always open.. and by the way Cricketin the grass god help your clients Im sure your stomach turns when your phone rings.. best of Luck

[chupee]

You guys really take your SALES gig way too serious .. as i thought no one wants to have a civil sit down and discuss and show a few statements and im sure you discount the Wharton School of business article also so what can i say . No im not beethoven just a pretty good composer so when the local La guys ae ready lets go to my favorie rest/ steak house called Mastros in bev Hills and lets have nice meal and see whos really hiding behind a chatroon .. who knows maybe we can do a seminar together. The bottom line is there is a war going on between the insuance industry and Finra and all you guys have been indoctrinated into equities that you really cant see the forest thru the trees . at the end o fthe day here is only ONE thing that matters how did the client do . i get cards and letters from all over the world from clients when they travel thankng me for saving their retirement and oher assets. They dont care how much the Ins paid me .. They didnt pay a penny and the fees are only taken from gainds so what can be beter then that ,, Just tell me and ill jump on your wagon ,, Trouble is have NEVERseen it .. so i go in pEace and offer is always open.. and by the way Cricketin the grass god help your clients Im sure your stomach turns when your phone rings.. best of Luck

[chupee]

thank you as thats the first honest commebt ive read here so far .

[chupee]

thank you as thats the first honest commebt ive read here so far .

[chupee]

thank you as thats the first honest commebt ive read here so far .

[chupee]

thank you as thats the first honest commebt ive read here so far .

[chupee]

thank you as thats the first honest commebt ive read here so far .

[chupee]

[quote=Allan from Fallbrook][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.[/quote]
i am truly sorry you were burnt from the stock world but if you are in La i will take you to lunch my treat and if nothing else you will learn something and i actually give a cd of some of my music .. Thats more then anybody is offering . so your call. be careful when you challenge someone unless youre willing to back it up I am …once again good food and a little tutorial.. I dont expect to have the pleasure as its much easier to live in your litle make believe world where you never admit you were wrong .. take care

[chupee]

[quote=Allan from Fallbrook][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.[/quote]
i am truly sorry you were burnt from the stock world but if you are in La i will take you to lunch my treat and if nothing else you will learn something and i actually give a cd of some of my music .. Thats more then anybody is offering . so your call. be careful when you challenge someone unless youre willing to back it up I am …once again good food and a little tutorial.. I dont expect to have the pleasure as its much easier to live in your litle make believe world where you never admit you were wrong .. take care

[chupee]

[quote=Allan from Fallbrook][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.[/quote]
i am truly sorry you were burnt from the stock world but if you are in La i will take you to lunch my treat and if nothing else you will learn something and i actually give a cd of some of my music .. Thats more then anybody is offering . so your call. be careful when you challenge someone unless youre willing to back it up I am …once again good food and a little tutorial.. I dont expect to have the pleasure as its much easier to live in your litle make believe world where you never admit you were wrong .. take care

[chupee]

[quote=Allan from Fallbrook][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.[/quote]
i am truly sorry you were burnt from the stock world but if you are in La i will take you to lunch my treat and if nothing else you will learn something and i actually give a cd of some of my music .. Thats more then anybody is offering . so your call. be careful when you challenge someone unless youre willing to back it up I am …once again good food and a little tutorial.. I dont expect to have the pleasure as its much easier to live in your litle make believe world where you never admit you were wrong .. take care

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