Exit Strategy. for. Annuities ANNUITY LIQUIDITY PROGRAM ANNUITY LIQUIDITY OPTIONS TM

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1 An Exit Strategy for Annuities

2 The Annuity Liquidity Program Stone Street Capital s Annuity Liquidity Program allows for an exit strategy for annuities. This program allows your clients to access funds that have been traditionally out of reach. Through a sale of their annuity payments, they now have the ability to manage: Cashing Out Inherited Annuities Changes in Retirement Planning Estate Planning and Wealth Transfer Investing in Alternative Insurance Products Any Immediate Financial Needs

3 Annuity Exit Strategies That Provide Liquidity to Your Client (And some benefits for you, too!) Agents Win Stone Street Capital earned my trust from day one and proved they are the best. I love working with them! - A. D. FOR YOU Strengthen client relationships by offering a valuable new service Gain access to funds for more appropriate investments Enhance cross sell opportunities and increase retention rates FOR YOUR CLIENT Enhanced financial liquidity Ability to invest in alternative insurance products Flexibility to modify existing portfolio Opportunity to avoid high surrender charges No recapture of original commission Best in class service Additional revenue opportunities Clients Win When you said something was going to happen, it happened. I was very pleased with your customer service and the whole funding process. - D. E.

4 The Opportunity for Liquidity Net assets of the non-qualified annuity industry have been growing steadily over the past ten years. Within this large market, there are annuity owners who have a need to access their funds. Estimates show that approximately 5% of fixed annuities will be fully surrendered, and approximately 18% will have partial withdrawals. $80.0 $70.0 Full Surrender and Partial Withdrawals Net Assets of Fixed, Non-Qualified Annuities $66.5 $69.5 $73.6 $71.8 $69.2 Net Assets (dollars in billions) $ $900.0 $800.0 $700.0 $600.0 $500.0 $400.0 $300.0 $200.0 $100.0 Annuity Industry Net Assets - Non-Qualified TOTAL $6.62 TRILLION $841.1 $874.4 $746.7 $761.6 $700.2 $301.0 $312.0 $624.0 $593.0 $302.0 $320.0 $517.0 $528.0 $289.0 $211.0 $434.0 $174.0 $176.0 $254.0 $173.0 $529.1 $573.4 $413.6 $411.2 $444.7 $343.0 $352.0 $339.0 $441.6 $ Year Variable Fixed Source: Morningstar, Inc. and LIMRA International Net Assets (dollars in billions) $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $39.8 $40.0 $40.5 $48.5 $ Year With this great opportunity to provide your clients a new option for liquidity, you may be wondering what this means for you and your book of business. Here is some information on distribution channels that you may find useful. ESTIMATED TEN YEAR TOTAL: $577.8 BILLION SURRENDERED OR WITHDRAWN Assumes 5% Full Surrender Rate and 18% Partial Withdrawal Rate of Net Assets of Fixed, Non-Qualified Annuities Fixed Annuity Sales by Distribution Channel Banks 23% Direct Response 2% Other 9% Captive Agents 14% What s your piece of the pie? National Wirehouses Reg. Broker Dealers 5% Financial Planners Independent Broker Dealers 4% Independent Agents 43% 2007 Source: NAVA

5 Illustrations Illustration #1: Inherited Annuity Benefit Take the hypothetical situation of Eric Roberts. Eric was the only nephew of his Uncle Ray. They were very close, and Uncle Ray made sure that Eric was taken care of by naming Eric has beneficiary in his life insurance. After Uncle Ray died, Eric received a letter from his uncle s insurance company giving him a choice of two death benefit options: receiving $1,900 a month for 60 months or a one time cash payment of $78,991. To Eric, the annuity seemed like the better deal. But Uncle Ray had a smart advisor. By using Stone Street Capital s Annuity Liquidity Program, there is a third option that would give Eric a cash payment of $91,102. This is $12,111 more than the insurance company offered. The agent contacted Eric with this third option. Eric listened because, after all, the agent advised his uncle and there already was a built in relationship. Besides, this new option that gave Eric more money showed that the advisor certainly had Eric s best interest in mind. Eric took the proceeds from the annuity cash out and put it in insurance products that better matched his needs. $94,000 $92,000 $90,000 $88,000 $86,000 $84,000 $82,000 $80,000 $78,000 $76,000 $74,000 $72,000 $12,111 More Than Insurance Company Cash Payment $78,991 $91,102 Illustration #3: Wealth Transfer Take the hypothetical situation of David Jacks. David, 67, had retired and through good financial planning, had a worry free retirement. But one day, he had chest pains and was admitted to the hospital. Luckily, it was not a heart attack. This got David thinking about his son and his grandchildren. Was he being smart about the assets he was passing on? David had worked hard to earn about $2 million that could be passed on without much of a tax consequence because they were beneath the one-time estate tax exemption, and will have the benefit of a step-up in cost-basis at the time they are passed on. But there was the issue of the immediate annuity, 20 years period certain, he purchased 5 years ago for $1.65 million. He was unsure how that would be passed on to his heirs. After contacting his advisor, he learned that his son would owe estate taxes equal to 45% of the annuity s present value or almost $500,000. On top of that, gains from the underlying investments in the annuity contract could be taxed at his son s ordinary income tax rate. David s advisor used Stone Street Capital s Annuity Liquidity Program to structure a way to pass on more tax-free money to David s son. David sold $4,000, which was only a portion of the $8,213 payment he received each month, for the next fifteen years for a total of $452,323. This was used to fund a flexible premium adjustable life policy with a face value of $1.6 million. David would continue to receive $4,213 during the period for which he sold payments. If he was still living after 15 years, he would then begin receiving his full payment of $8,213. Here s the real benefit - the wealth transfer to his son. Since insurance proceeds, if set up appropriately, are not taxable, David s son would get $1.6 million tax-free. Compare that to the net proceeds of just around $600,000 after the tax bill of approximately $500,000 on the present value in the original annuity. $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $1.1 Million More Tax Free to David s Heirs $1,600,000 Insurance Company Annuity Liquidity Program Illustration #2: Unforeseen Immediate Cash Need Here s a hypothetical scenario. Lisa Richards purchased an immediate fixed annuity five years ago. Since that time, Lisa s advisor learned of Stone Street Capital s Annuity Liquidity Program that gave Lisa a new exit option. Taking the initiative, Lisa s advisor found out that the cash value under the Annuity Liquidity Program was $105,000. Lisa s advisor contacted her with this market cash value of her remaining payments. Lisa didn t have a need, and decided not to do anything at that time. Three months later, Lisa decided to start a business and needed $100,000. Lisa remembered that cash value and called her advisor. By liquidating her remaining annuity stream of 60 monthly payments of $2,200, Lisa s agent was able to provide Lisa the cash she needed. $800,000 $600,000 $400,000 $200,000 $600,000 Net Proceeds on Original Annuity Insurance Proceeds

6 Frequently Asked Questions What is Stone Street Capital s Annuity Liquidity Program? In a nutshell, we provide up-front money to your clients for their annuities by purchasing the future payments of the annuity. Is there any commission recapture on the sale of the original annuity? No. Because the annuity stays intact and it is simply a transfer of ownership, there is no recapture of commissions. Do you purchase variable annuities? No. We purchase single premium immediate annuities or fixed annuities. Are there any surrender charges? No. This is not a surrender of the annuity, but a transfer of ownership. What are the primary reasons a client may want to liquidate their annuity? The reasons are as diverse as your clients are. Many clients need up-front money in order to handle: Estate planning and wealth transfer Changes in retirement planning Investing in alternative insurance products Cashing out inherited annuities Any immediate financial needs A desire to better position assets for transfer to heirs Can you cash out a portion of the annuity? Yes. Options are available to purchase only some of the annuity payments. How long does it take for my client to receive money? Every transaction is different, but usually it is within 2-4 weeks. Is this a viatical or life settlement product? No. Are there taxes on the money from cashing in an annuity? Yes, like any source of income, United States tax law states that any gains incurred as a result of cashing in an annuity may be subject to income tax. Also, if the annuity owner is of the age 59 1/2 or younger when the annuity is cashed in, there may be a 10% federal tax penalty. It s most important to realize that every person s tax situation is different and only a registered tax advisor can provide tax advice. Because taxes are paid on an annuity whether it is cashed in or not, it s important to have the facts. We do not provide financial or tax advice and urge anyone considering this option to consult their own financial and tax advisor. How do I find out more? Call our Annuity Liquidity Program Experts at (800)

7 STONE STREET CAPITAL, LLC Stone Street Capital was started in 1989 to give annuity owners financial options. Our unique programs allow customers to tap into finances that would otherwise be out of reach. We have helped thousands of people and purchased in excess of $2 Billion in annuity payments. Our understanding of the lump sum option has allowed us to build an extensive, completely customized network of options that match each and every personal situation. HIGHLIGHTED SERVICES Annuity Liquidity Program Annuity exit strategy that allows annuity owners to receive cash for some or all of their future annuity payments. Valuable service for any agent, advisor, or broker to offer their clients. Services for Annualized Prize Winners Cash options for lottery winners, slot machine jackpot winners, and contest winners who are receiving their prize over time. Specialized services include loans, advances, and lump sum cash thru a sale of the prize. Structured Settlements Lump Sum Option Converting into immediate cash some or all of the payments from a structured settlement (periodic payments from an insurance backed annuity, usually as a result of the settlement of a personal injury lawsuit) Wisconsin Avenue Fifth Floor Bethesda, Maryland (800) Almost Years Since 1989

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