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Annuities: My True Story and the Bad News

Sep 16, 2008
I used to sell annuities. I was intrigued by them and initially and the way they were introduced to me, they seemed like they could really help people. Until one day, it happened...

This is the true story of how I was 'banned' from the annuity industry. I tell it not for any reason other than to let you know you may need to be aware. Aware of what? Aware of the fact that there may be some things you need to know.

So upon really becoming interested in them, I decided to look into annuities more. I learned that there were definitely situations they could be a great fit. So I decided to focus on them and make a practice solely based on selling fixed annuities. It went very well. I felt like I was helping people and doing the right thing for them.

The only problem was that, there were so many misconceptions about annuities. I would meet so many people who were sold annuities under 'FALSE' pretenses. They would come to me for help. And they would come to me NOT even understanding what they were sold. In fact, out of every 10 people, I could estimate that 8 to 9 out of those 10 who I came across who owned annuities had no clue how their annuity worked. That doesn't mean that 80-90% owned something that wasn't good for them, but that they really didn't know what they owned or how it worked.

I was dying to figure out how SO MANY people could have been misled or sold something that they had no clue about. I wanted to know how they ended up investing in a financial vehicle that they didn't even understand.

And upon interviewing hundreds of people while building my practice (many who owned annuities) and dissecting annuities to their core, I developed a report called 'Annuities: The Shocking Truths Revealed.' I really just wrote about everything I had seen and learned from these people I interviewed. I outlined EVERY mistake I had ever come across that these consumers had ever made when being sold an annuity. It was a clear and concise report on how to make a GREAT decision when purchasing annuities and how to avoid those mistakes that I had seen so many make and the misconceptions I had so often seen.

This was NOT Annuities 101. It was the hardcore of what to look for, what to avoid, how to avoid being misled, what questions to ask, and THE WHOLE TRUTH. In fact, you could not possibly go through this book and NOT KNOW if an annuity was right for you or not. It was simply the absolute most revealing and detailed report on annuities EVER released and still is.

However, I never really intended it to be anything more than a report I could give my own clients to help them make the right decisions. But, as I was telling one of my good friends about it, he suggested I put it out on the internet for the benefit of anyone who needed the information. So, that's exactly what I did.

I put the book for sale online wondering if people would be interested in such information. To my surprise, the demand was incredible and still is to this day. I discovered that although people are flooded with information on annuities, what they are really lacking is straightforward applicable knowledge and direction and this is what the report provided.

On the other hand, however, I got just as much hate as I got love for it. Many annuity agents and industry professionals sent hate mail to me stating how I was 'ruining the industry.' And for what? For telling the truth? But, I didn't care. I was even threatened on numerous occasions. It was outrageous. I couldn't believe it. I wasn't saying annuities were bad. I was simply pointing out the truth to people so that they could make better financial decisions.

On the brighter side, however, there were annuity agents that purchased the information. I could honestly say that a good number of annuity agents that ever purchased the book complimented me. They understood after reading it that it was about doing things the RIGHT way.

But eventually, the inevitable happened. As time moved on, I found myself being denied appointments with insurance companies. They began to turn me down meaning I could not sell their products anymore. In fact, the latest insurance company stated that my appointment was 'terminated' and that I was ineligible for reappointment.

So the bottom line is, I was 'banned' from an industry who simply didn't want what I had to say to be in your hands. But that won't stop me. I would rather die telling the truth then to live telling a lie. Plain and simple---YOU DON'T KNOW THE TRUTH. There are things about annuities you need to know.

My point in telling you this is just to make you aware that things are not always as they seem. People out to tell the truth are the ones who get 'shut up' by the bigger forces. I, however, will not shut up but continue to tell my story as long as you can. I hope this helps you and encourages you to do your homework before investing in an annuity.
About the Author
And remember,to discover the Shocking Secrets about Annuities, please visit AnnuityMD.com

Tony Bahu is author of the controversial book, 'Annuities: The Shocking Truths Revealed' which can be found at http://www.AnnuityMD.com
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