Phil Cannella Complaints, Phil Cannella Lawsuit, Phil Cannella Reviews
Phil Cannella appreciates that many consumers are wary of annuities. It is not surprising that it is so when so many financial advisors recommend these products to consumers when it is not the best product for their given situation.
Having said that, Phil Cannella also indicates that there are times when annuities, specific annuities are good for the consumers. For example, for some clients, depending on their needs and their goals a fixed deferred annuity might be right. Understanding the difference between an immediate annuity and a deferred annuity is important says Phil Cannella. With an immediate annuity, income payments start no later than one year after you pay the premium. You usually pay for an immediate annuity with one payment. The income payments from a deferred annuity often start many years later. Deferred annuities have an accumulation period, which is the time between when you start paying premiums and when income payments start.
Phil Cannella goes on to explain that one of the most important benefits of deferred annuities is your ability to use the value built up during the accumulation period to give you a lump sum payment or to make income payments during the payout period. You can choose payments for as long as you live, as long as your spouse lives or for a set of years.
Phil Cannella is a true expert on annuities and educates consumers day in and day out on their benefits and drawbacks.