Here's some important information about Equity Indexed Annuities (or Indexed Annuities) that you won't hear from Shannon Nelson, Jonathan Young, Kelly Dachlter...and the rest of the crew being sued for fraud!
Left: Jonathan Young
We found this cryptic tweet from Jonathan Young, American Senior Benefits' Senior Partner. Young's bio includes this boast: "Mr. Young qualified as a President’s Honor Circle member, ranking him in the top 1 percent of insurance agents in the nation." Bankers Life, the company presently suing Young for fraud and other charges, does indeed have a President's Honor Circle, but we're certain that the only circle Young's a part of is the ninth and final circle of Hell.
Pay close attention to the "Americo EIA" in the following tweet:
That same skepticism should be applied to the purchase of financial products as well. Those who purchase mutual funds or stocks are fully aware of the commission they’re paying. However, few Equity Indexed Annuity consumers are aware of the commission their advisors are making off of their purchases.
This is why Equity Indexed Annuities may be the "Next Big Investment Scandal". The hidden conflict of interest between an advisor and client is greatest when an Equity Indexed Annuity is being recommended. There are huge incentives designed to motivate an advisor to recommend an Equity Indexed Annuity over any other financial investment they offer–incentives that aren’t disclosed to the client.
An advisor can make more commission from selling an Equity Indexed Annuity than they can from any other investment they offer. A lot more. In some cases, the amount of commission is three to four times greater than on an investment like a mutual fund.