Fun With Annuities Podcast Celebrity Series
It’s great to have Tom Hegna back on the FWA podcast to talk about how "Mortality Credits" are the key to lifetime income pricing with annuities. He told a great story that simply explained how mortality credits work. It involved elderly ladies taking a trip and pooling their money. It was classic Tom Hegna and the best explanation I've heard to explain the transfer of risk value proposition of lifetime income annuities. Tom has recently updated his classic book, Paychecks & Playchecks, which we dove into once again to explain why people almost have to consider lifetime income annuities as part of their overall plan.
Tom dives in with this, "The evidence is overwhelming that the people with annuities live longer. Because they have less stress, they worry less, they’re being paid to live so many of them live differently - they watch what they eat, they exercise, they call the doctor. All these little things cause them to tend to live longer. "
I call Tom the "Soothsayer of Retirement Income Planning." Because when he explains how income annuities work, it makes total sense. We discussed why annuity sales are growing despite perceived low-interest rates and the current trend of 401k plans adding income annuity choices. To Tom, it is all about the math of annuity income guarantees and how math and science work with contractual annuity guarantees. Tom also covers the Sequence of Return risks and how annuities can contractually smooth out those rough edges.
You are going to love this Tom Hegna podcast. Every single one he does with us is pure GOLD and worth listening to more than once. Get planning!
In this episode, The Annuity Man and Tom Hegna discuss:
Brief bio on co-host Tom Hegna
Tom Hegna CLU, ChFC, CASL is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!
As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books. (Source: tomhegna.com)
Connect with Tom Hegna
Fun With Annuities Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.