Veritas, Sea, Somebody!

[sea-tax]

I've always seen them funded with life insurance, not annuities. Do you have some contacts for this type of set up you would be willing to let me hook up with?

Typically it is life insurance and fixed annuities. usually a combination of both. But I have written one plan where by it was all fixed annuity the client just didn't want life ins and the company agreed.

I would check with your local Hartford Ins rep for the annuity or life ins side. I used my local rep and she was very good at walking me through the first one.

[sea-tax]

I would agree that a variable annuity is invariably a bad choice. An immediate payment single premium annuity might be a more reasonable investment, but only if bought when interest rates are fairly high.

As to holding stock-related investments to a very low percent, I think it depends on the investor. I invested most of my rollover IRA in stocks and stock-related ETFs. I have withdrawn a lot more than my original investment and my remaining balance is still about twice what I started with due to gains in bull markets and despite a large loss one year after the internet bubble burst.

Look some people you just can't convince. VA's are not right for you or me infact but to say "invariably a bad choice" or "rip-off" is I think overstating the facts. I agree stock-related investments not wraped in an insurance setting is typically a cheaper and more lucrative way of making money. But to write the other side off completely because it doesn't work for you is foolish at best. If you are an advisor you have to take your personal opinions kind of out of the situation and do what is best for the client in their specific situation.