- Paperback: 92 pages
- Publisher: iUniverse (9 Aug 2006)
- Language English
- ISBN-10: 0595404189
- ISBN-13: 978-0595404186
- Product Dimensions: 22.9 x 15.2 x 0.6 cm
- Amazon Bestsellers Rank: 3,500,967 in Books (See Top 100 in Books)
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More About the Author
Product Description
Product Description
Few individuals have done more to educate the American public about financial scams than Jay Adkisson. As the creator of Quatloos.com, Jay has helped many thousands of people worldwide avoid being scammed out of many millions of dollars to various investment schemes. The U.S. Senate Finance Committee has twice called Jay as an expert witness on abusive tax schemes. As one of the authors of Asset Protection: Concepts and Strategies (McGraw-Hill 2004), Jay has similarly helped thousands of people avoid dubious asset protection schemes. In his latest book, Equity-Indexed Annuities: The Smart Consumer's Guide, Jay gives a balanced and objective overview of this advanced form of fixed annuity to better educate consumers of the advantages, disadvantages, and the numerous product options that are available when considering the purchase of this popular retirement vehicle. This short guide covers all the most important issues that consumers should address before purchasing an equity-indexed annuity, including: How the minimum interest rate is paid, how the maximum return is linked to the stock index, and how participation rates and caps may limit returns.
How surrender charges may limit withdrawal rights for a period of years after the annuity is purchased, and why the annuity should not be purchased if the consumer will need the cash during this period.
How the annuity payments may be made, and what can happen upon the death of the annuitant.
How annuities benefit from tax-deferral, how taxes are paid upon withdrawal or when annuity payments are made, and tax considerations upon the death of the annuitant.
How the annuity and annuity payments may be protected from creditors in some states, and how in other states they may be protected by proper planning done in advance of claims. This guide should also give consumers the ability to intelligently answer the most fundamental question: Is an equity-indexed annuity right for me?
About the Author
Jay D. Adkisson is an investment consultant and attorney. He is best known as the creator of Quatloos.com which is an internationally famous website that educates the public about financial and investment scams and tax frauds. Jay has twice been an expert witness for the U.S. Senate Finance Committee, and is one of the authors of Asset Protection: Concepts and Strategies (McGraw-Hill 2004) and the author of Lost Eye: Coping with Monocular Vision after Enucleation or Eye Loss from Cancer, Accident, or Disease (2006).
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6 reviews
23 of 23 people found the following review helpful
Concise and Objective
30 Sep 2006
Format:Paperback
Bought after having read about it in Jay's newsletter. This is a guide that every insurance agent who sells EIAs should read, and every person who is interested in purchasing EIAs should read -- there would be no more improper or unsuitable sales, and those people who could benefit by them can do so without worry.
There is no description, discussion or plugging of any particular insurance company or annuity product, but rather the book focuses on when and when not EIAs should be used. This is absolutely not a self-promotional book or one that pumps EIAs in all circumstances. As the author repeats over and over, there are some occasions when EIAs should not be bought because of liquidity concerns or tax issues. Yet, when they can be used, they can be great products for retirement savings and wealth preservation.
Unique among annuity books, there is a section on asset protection utilizing annuities in states that protect them by statute, which is of course not surprising considering Jay's background and his first book on asset protection with Chris Riser.
Smart insurance agents will give this book to each prospective purchaser of EIAs to read first to avoid any later misunderstandings.
There is no description, discussion or plugging of any particular insurance company or annuity product, but rather the book focuses on when and when not EIAs should be used. This is absolutely not a self-promotional book or one that pumps EIAs in all circumstances. As the author repeats over and over, there are some occasions when EIAs should not be bought because of liquidity concerns or tax issues. Yet, when they can be used, they can be great products for retirement savings and wealth preservation.
Unique among annuity books, there is a section on asset protection utilizing annuities in states that protect them by statute, which is of course not surprising considering Jay's background and his first book on asset protection with Chris Riser.
Smart insurance agents will give this book to each prospective purchaser of EIAs to read first to avoid any later misunderstandings.
2 of 2 people found the following review helpful
Excellent Book Overall
11 Sep 2008
Format:Paperback|Amazon Verified Purchase
This book is a very balanced explanation and review of the Indexed Annuity landscape. While some criticisms are not applicable to all products this small book does a very credible job of getting all the important issues on the table. I recommend this book to all that would like to learn more about this savings vehicle. Jeff Clark CPA
1 of 1 people found the following review helpful
Easy Read
12 Nov 2008
Format:Paperback
I was looking for a good reference guide for my clients. This book was very easy to read and understand, I would highly recommend this for anyone who wants to understand EIA's.
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