Thanks for your excellent question – I’m going to answer in a way to benefit you and everyone else.

FIRST, my advice would be to NOT take insurance “advice” from ANY Guru on the internet – including myself.

NEXT, what I would encourage you to do, is to talk to several Financial Planners (FINRA Series 65 Licensed) in your local area that you can meet with face-to-face, then decided who you want to work with based on their knowledge and willingness to help you.

I will tell you that Insurance Companies LOVE to sell an Annuity Product because there is a HUGE commission!!!

It is not unusual for an Insurance Sales person to make up to 50% commission on the deposit amount of a client’s Annuity – which explains why they have harsh and severe early withdrawal penalties! So, for example if you deposit $100,000.00 in to an Annuity with one of these companies, it is possible that Sales Person made up to $50,000.00 in commission – not too bad for only a few hours work, right?!!!(sarcastic)

Of course I don’t consider that ethical – however that is currently allowed by US Gov. Securities / Insurance Law.

This HIGH commission unfortunately attracts sales people who DON’T have YOUR “best interest” at heart, rather they are thinking about their commission (and a new BMW or Mercedes)!!!

One of the criteria I would recommend you consider is seeking out Fee Based Financial Planners (FINRA Series 65 Licensed).

These Professionals make their money based on a fee based schedule, and you pay for their advice based on that schedule. If they are ethical they will not ask you to purchase a product from them that they make a commission on; or if they do make a commission, they will fully disclose that amount of their commission, which will be considerably less than a regular Insurance sales person.

Note, the FINRA Licensing requirements of a Series 65 Financial Planner is one of the HARDEST TESTS THEY HAVE!!! Compare that to an Insurance License which is issued by a State and is a very simple test which is passed regularly by individuals who only take a “crash course” study program for a few hours!

Thanks again for your question, I hope that has helped you.

~ Mr. IQD

P.S. If you are not sure of which Financial Planner to start talking to, I would recommend you first check out the highly rated Ric Edelman (http://www.ricedelman.com/) I have no affiliation with him, and do not earn a commission referring his website.

Yes, you are right, some people can’t ever be satisfied, but the clarification needed to be made, especially since it had been unintentionally overlooked when we transferred the website from our servers over to the WordPress Servers. That move also cost us our email database the headache of having to “re-subscribe” to the post updates, etc. So, there was a lot going on, and it just had not been done yet. So, I was happy that person “reminded” me by their comments. It was something that should have been done earlier.