Tuesday, March 01, 2005

The Problem with the Annuity Industry

This is it...If anyone ever wanted to know why clients get screwed when it comes to annuities, then this is it. Take a look at this picture. The name of the advertiser and their information has been removed because it doesn't matter...THE WHOLE INDUSTRY IS DOING THIS.

I got this in my e-mail box "enticing" me to sell this product. It entices the agent with a "huge" commission. What stands out the most on the page??? The green 12%. And who do you think is paying for this commission??? Yes, you are.

So, my point is not to tell you what you don't know. Yes, as I stated in "Shocking Truths", agents get paid handsomely for doing this work. However, that often results in greed and the agent working for the commission and not for the client. If the agent does do a good job, he should get paid...but if he's only looking out for himself then shame on him.

But the bottom line is, these are the types of ads that go out to annuity agents every day. No wonder why they are enticed to sell annuities for commission and not for the client. It is wise to know what the agent is selling you and how much is in it for him. Afterall, if too much is in it for him, then there probably won't be that much in it for you.

Ignorance is NOT Bliss!!!

Tony Bahu

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