John Lenz: The State of The Annuity Union

Author: The Annuity Man
Published: Tue 07 Nov 2023
Episode Link: https://theannuityman.libsyn.com/john-lenz-the-state-of-the-annuity-union

In this episode, The Annuity Man and John Lenz discuss:

Key Takeaways:

Insurance companies are for-profit institutions. Historically, insurance companies have renewed annuities at a lower rate than new money rates, but not everybody, and not all the time. Don’t lose track of your renewal rate; keep the company honest.
Nobody can predict interest rates. Given everything we don't know, having a MYGA ladder is not a bad idea. Currently, we're at interest rate levels that if you have enough money, you can live off the interest and lock it in long-term.
Tax savings shouldn’t be the primary reason why someone buys QLACs. Buy QLACs if you want lifetime income, joint lifetime income, or if you want to combat inflation. Tax savings are a benefit of buying a QLAC, but it should be the tertiary reason for doing so.
Suitability is a term that says the annuity that your agent is proposing to you is suitable for you based on a number of things: your age, your liquidity, your understanding of your money, your net worth, your income, and your expenses.

"You got to advocate and go out there and make sure your money is not sitting around making somebody else profit instead of you" — John Lenz.

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