No More Money?
No More Money?
An article appeared in the Wall Street Journal on May 6, 2013 entitled Insurers to Annuity Owners: We Don’t Want More Money. (click orange text for article). It is one of many articles published over the last year by the Wall Street Journal on the financial problems of many domestic life insurance companies. Many of the problems were warned about in various actuarial publications. Perhaps the economy is part of the reason or perhaps the main reason is product design and the tendency to make guarantees that are not practical in the long term.
Castle has no need to follow suit. Its model is far different than what is sold on a daily basis. Castle is not turning away money. Castle does not make guarantees other than to guarantee what the costs will be. Costs that are well below the steep “3.5% or more of the invested value” set out in the Wall Street Journal article.
Want to help your clients? Consider that life insurance and deferred annuities do not have be the result of off the rack products. They can and should be the result of careful planning and custom tailored contracts where the account value is independently invested and managed. Planning that is the result of the coordinated effort of the client’s most trusted financial, legal and accounting professional team.
No More Money?
2013 05 07
No More Money?
An article appeared in the Wall Street Journal on May 6, 2013 entitled Insurers to Annuity Owners: We Don’t Want More Money. (click orange text for article). It is one of many articles published over the last year by the Wall Street Journal on the financial problems of many domestic life insurance companies. Many of the problems were warned about in various actuarial publications. Perhaps the economy is part of the reason or perhaps the main reason is product design and the tendency to make guarantees that are not practical in the long term.
Castle has no need to follow suit. Its model is far different than what is sold on a daily basis. Castle is not turning away money. Castle does not make guarantees other than to guarantee what the costs will be. Costs that are well below the steep “3.5% or more of the invested value” set out in the Wall Street Journal article.
Want to help your clients? Consider that life insurance and deferred annuities do not have be the result of off the rack products. They can and should be the result of careful planning and custom tailored contracts where the account value is independently invested and managed. Planning that is the result of the coordinated effort of the client’s most trusted financial, legal and accounting professional team.
