Phil Cannella – Phillip Cannella Media: Phil Cannella, among others in the field, question the value of annuities and if they are good fit for seniors. Phil Cannella says they definitely have a place as they are very unique products that have a very definite fit and are in fact unique as to what they do.
This is how Phil Cannella puts it: “Annuities should have a place in your retirement portfolio for this reason: they’re one of the only guaranteed financial instruments in the history of the world. How many financial vehicles can you say that about?”
The reason they are guaranteed is because they are an insurance product and with insurance comes guarantees you cannot find elsewhere. Phil Cannella explains that annuities are sold by life insurance companies and these companies are very secure financial institutions, unlike many of the companies you’ll find on Wall Street.
Phil Cannella utilizes annuities in the right way when putting together a crash proof retirement plan for a consumer who comes through his system. Like almost anything else in the world, put to the wrong use an annuity can be wrong for the consumer. Phil Cannella utilizes an annuity, and the right annuity when it makes sense for the consumer.