Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

When market value hit guarantees, these seniors needed income! #shorts

30 Mar 2026 · 1 min

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A financial advisor submitted fifteen annuity surrender applications after the 2008 downturn when market values approached guaranteed payouts. The brokerage denied fourteen of them, blocking him from helping senior clients access their income. He left the firm and joined IBC in 2014.

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We had come off some pretty bad years, '08, '09, and I had a lot of clients in annuities, annuities with guarantees. What happens in the earlier market shifts, I had these annuities and then the markets started going up and I kept them in the markets because they had downside protection. The market value started to approach the guarantees and I went to them and I say, we could annuitize this now. These were seniors, they needed income. I went to the brokerage firm. I forget exactly, but I may have given them 15, let's say, applications. Of the 15 applications to surrender the annuity, 14 out of 15, the brokerage firm denied the application. I was floored. I said, this is not a world that I can exist in. And that's when I moved in 2014 and joined IBC.