Phillip Cannella News: Phil Cannella Explains Annuities in Layman Terms

Phil Cannella – Phillip Cannella News: Phil Cannella realized early on that the average consumer did not understand the financial products available to him or her to invest in. He also realized that bad press about the industry as a whole and insurance agents without scruples have had a hand in destroying the reputation of some otherwise real good insurance products, including most specifically annuities.

How Phil Cannella explains an annuity is actually pretty simple: “Annuities aren’t as intimidating as you might think.  Take, for instance, our country’s state lotteries that pay out huge amounts of money to winners.  They give you a choice – do you want it in one lump sum or in payments?  Well, guess what that second option is – it’s an annuity that pays out over a 20 or 30 year period.  An annuity, very simply put, is a series of payments disbursed over time.”

Where annuities go wrong or can go wrong as Phil Cannella explains is if the financial advisor is out to make a good commission rather than operate in the best interest of the client. Insurance agents putting their clients into products that are not necessarily the best for them but paid the agent well is one of the reasons annuities have gotten a bad name.

Phil Cannella points out that understanding the different types of annuity is very important as well as within the main types the many different individual annuities offered by insurance carriers that make the most sense for the client.

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  • Phil Cannella

    Phil Cannella – Champion of Consumer Advocacy
    With the uncertainty and volatility of the market, Phil Cannella, with First Senior Financial Group, prides himself on ensuring a safe retirement future for senior consumers. With an unparalleled devotion to educating seniors, Phil Cannella works endlessly to know and understand the ever changing tax laws and economic changes that can adversely affect one’s nest egg. Thousands of senior citizens have gone through First Senior Financial Group’s education process and learned how to have up to an 85% tax free retirement income.
    As if that isn’t reason enough to respect Phil Cannella, the truly amazing thing about how he runs First Senior Financial Group is that he never takes a dime from the seniors who come to him to be educated. Everything he teaches and everything he offers comes free of charge. That is the true mark of a consumer advocate, someone who cares enough to help you without asking for anything in return.

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