Are Hybrid Annuities Safe For Retirees?

The Annuity Man

Let me repeat what "hybrid" is once again.  Hybrid is a car.  Hybrid is a plant.  Hybrid can even be a mattress.  But when an annuity salesperson uses the word "hybrid" to pitch their favorite annuity, you need to move on from that agent or advisor.  Usually when "hybrid" is used in the sales presentation, that agent is usually pitching and over-hyping a Fixed Index Annuity (FIA) as a "too good to be true" product that you can't pass up.

FIAs were developed and introduced in 1995 to compete with CD returns.  Yes, I said CD returns.  I know that is not what you typically hear, but it's the truth.  FIAs are NOT market return products.  Never have been.  Never will be.

Using the word "hybrid" means that there are multiple benefits.  Under that premise, all annuity types could literally be referred to as a hybrid.  All types offer multiple benefits, and that's including FIAs.  However, when agents use the word "hybrid," they want you to think you are getting something special or unique.  You are not.  You are getting an annuity contract, and you should only purchase that annuity policy for the contractual guarantees.  Now that's solid annuity advice for retirees! 

Always own an annuity for what it WILL DO, not what it might do.

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