When it comes to personal finance and retirement advice, Suze Orman has been a household name for years. From her appearances on Oprah to her books and media presence, she has inspired millions with advice on building financial security. Suze is a strong advocate for living below your means, building emergency savings, and paying down debt—principles we can all get behind.
However, have you had clients come to you asking for advice about annuities and then sharing that, “Suze Orman says annuities are bad”? Everyone has their own opinions, but as annuity advocates, what is your typical response when you hear this? How have you handled this?
At Annuity Agents Alliance, we see this as an opportunity for a deeper, more meaningful conversation. A conversation that doesn’t have you jumping in immediately to express your negative opinion of [insert TV personality here]🤣
The good news? We have a simple way to help you educate them on the true value of annuities and why they can be a smart choice for the right financial plan.
Your script to set the record straight on annuities
When a client says, “I’ve heard annuities are a bad investment,” here’s how you might respond:
“I understand where you’re coming from. Some financial advisors are cautious about annuities, and while they’re not for everyone, they can be an excellent tool when tailored to fit your specific goals. Annuities can provide a reliable income stream for life, making them unique among retirement options. In contrast to stocks or mutual funds, they protect against outliving your assets—something Social Security and many retirement funds don’t fully cover.”
“The important thing to remember is that not all annuities are the same. There are different types that offer various benefits depending on what you need. Some are designed to grow your savings without stock market risk; others offer guaranteed lifetime payments, helping to cover living expenses in retirement. And many of today’s annuities are designed with flexibility in mind, allowing for partial withdrawals or beneficiaries in case you don’t need the full amount during your lifetime.”
“So, rather than ruling out annuities entirely, let’s look at your retirement goals and see if a well-structured annuity could be the right solution for you. This way, you get a balanced view and can make a fully informed decision.”
Help your clients separate good information from bad
As an insurance professional, you’re in a unique position to help clients separate solid financial advice from the noise. Your clients trust you to guide them toward the best choices for their unique situations, and when myths about annuities cloud their judgment, you’re their first line of defense.
With our support, you can confidently educate clients on the role annuities can play in a healthy, balanced retirement portfolio. Annuities aren’t inherently “good” or “bad”—they’re tools that, when used correctly, can provide stability, security, and peace of mind.
So, if your clients are asking tough questions, remember: we’re here to back you up every step of the way. Feel free to reach out if you need more resources or guidance.