We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Blog + Articles

Categories

  • Industry Articles (10,620)
  • Industry Conferences (2)
  • Industry Job Openings (32)
  • Negative Media (121)
  • Positive Media (73)
  • Sheryl's Articles (415)
  • Sheryl's Blogs (135)
  • Wink's Articles (158)
  • Wink's Blogs (113)
  • Wink's Press Releases (63)
  • Blog Archives

  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • Moore on the Life/Annuity Market: How can so many be so wrong on annuities?

    April 13, 2018 by Sheryl J. Moore

    Did you know that the biggest fear of Americans age 50 and older is running out of money in retirement?1

    Did you know that an annuity is the one financial instrument that can guarantee an income you will never outlive?

    Let that sink in. We’ll get back to that in a minute.

    View Insurance Selling, April 2018 

    Irrespective of this unique supply/demand concept, not many people know about annuities.

    Ask someone if they’ve heard of a retirement savings vehicle that can protect their money from market losses, while promising them a guaranteed income for the rest of their life, and they eagerly respond that they are interested. You have their attention! Ask the same person if they’ve heard of an annuity, and they’ll turn up their nose, saying they will never buy one.

    WHAT?!?

    The single most frustrating thing about working in this business is how many people get it wrong when it comes to annuities. So frustrating, in fact, that for nearly five years I responded to – and corrected – every negative and inaccurate article on these savings instruments. Sadly, over the past 20 years that I’ve worked in the life insurance business, I’ve observed a slow and systematic miseducation of the general public when it comes to annuities. What I’ve found is that there are generally five reasons the media gets it wrong when it comes to annuities:

    1. They see your ads: distributors advertise double-digit commissions; never mind that these products contribute less than 1% of sales. The media see these advertisements being distributed for “all eyes to see,” and assume this is generally descriptive of the entire product class.

    2. “Insiders” call you out: we all know who I am talking about here. Get a snappy name like “Kent the Annuity Gent” or “Klinger the Annuity Slinger,” bash annuities on a national platform (see #5), and everyone is quoting you. Never mind that your methods scream, “Annuity salespeople are scary! These “experts” seem to make up a lot of their information, and brush the industry with one bad, broad stroke just to steer sales their way. 

    3. They don’t know who to ask: financial experts don’t want to say, “I’m not the guy to ask about annuities, just mutual funds,” so they go on the record about things that they shouldn’t opine on. Half the time these so-called experts are the people competing for the same dollars as annuity salespeople! The journalists don’t know that they aren’t experts, and therefore have no reason to question their credibility.

    4. They source other misinformation: I can’t tell you how many times I’ve corrected a journalist, and had them say, “Well, I read that in a Wall Street Journal article, so it must be credible?” Which leads me to…

    5. They bash annuities because it benefits their advertisers: consider the source, folks. If three-quarters of a magazine’s advertisers sell mutual funds, but not annuities, they have a credibility problem. Of course, they are going to bash annuities! They want to keep those ad dollars coming in!

    I stopped working in a home office 13 years ago and started my company as a struggling single mom because I believe in annuities. I lost tons of money in my 401(k) when the dot-com bubble burst, not knowing “annuities” even existed. Oh, how I wish I had bought an annuity instead! I needlessly put my retirement savings at risk, when I could have been protected from the loss of a single penny!

    How many other people do you think there are out there who feel the same way?

    Look, annuities are not right for everyone. And no one should have all their retirement savings in an annuity. However, annuities are the only financial services product that is in a position to address the top fear of our nation’s aging population. I don’t know about all of you, but I hear a rallying cry for educating consumers on annuities!

     

    Sheryl Moore is President and CEO of Moore Market Intelligence, an indexed product resource in Des Moines, Iowa, as well as the market research firm of Wink, Inc. Her companies provide competitive intelligence, market research, product development, consulting services and insight to select financial services companies. She may be reached at sjm@indexedrockstar.com.

     

     

    1 MarketWatch 7/21/16: “Older people fear this more than death” https://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18

    Page 46 of 52

    Originally Posted at Insurance Selling on April 2018.

    Categories: Sheryl's Articles
    currency