Unlocking Annuity Potential: Innovations, Strategies, and Legacy Planning with Paul Garofoli, The Standard

In this episode, Scott welcomed Paul Garofoli to the studio to discuss annuities. Paul Garofoli, Annuity Regional Sales Director for the Standard, has a 40-year career touching upon all aspects of our industry, especially independent distribution. Nicknamed the “Annuity King,” his enthusiasm is legendary. A nationally recognized speaker, Paul is known for his entertaining presentations.

Most recently, Paul was the recipient of the NAILBA ID 20 Award, honoring a diverse group of insurance professionals who are the most fascinating trailblazers, change-makers or architects shaping the future of independent distribution.

1. Annuity Market Dynamics: Paul highlights the recent surge in the annuity market due to rising interest rates and increased acceptance of annuities as a valuable asset class by various financial institutions and the general public.
2. The Standard's Offerings: The Standard provides diversified financial products including group insurance, disability insurance, retirement plans, and annuities. Notably, they offer annuities up to age 93 and are Medicaid-friendly with unique features for elder care.
3. Enhanced Choice Index Plus: This new product suite includes multiple S&P 500-based indices and a proprietary index, offering competitive rates and a unique death benefit rider (Legacy Max) that compounds at 6%, providing substantial legacy benefits.
4. Consumer-Centric Features: The Standard's annuities come with consumer-friendly options like full account value upon death, spousal continuation benefits, and options for beneficiaries to manage the death benefit in a tax-efficient manner.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at optimizedadvisor@optimizedins.com

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