Gary Allen on Business – Sunday, May 25, 2014 – Podcast Now Available
My program originally broadcast on May 25, 2014 is now available for your listening pleasure. On this program, I spend the opening segment talking about risk and return and the tradeoff that all investors must deal with. In segments two and three I discuss annuities and what you need to be aware of. You might be surprised by some of my comments about these insurance products. My biggest problem with most annuities has to do with the way they are distributed and sold. The sales practices, which in my opinion, are vastly under-regulated leaves people often at the mercy of salespeople.
My prediction for what it is worth, is the slow maturation of this industry that hopefully leads to greater transparency, lower fees and less shenanigans. Ultimately, with so many people looking for lifetime income, it seems logical for insurance companies to sell directly into the marketplace. This could lead to the marginalization of those insurance agents who simply sell products and do little to earn there undisclosed fee. I don’t see any problem with that.