Mike Lair

Mike Lair

Sr. V.P. Annuity Marketing

Mike’s role as Senior Vice President with Brokers Edge involves his training and education of annuity wholesalers as well as working with his own group of producers and agencies that use Brokers Edge for their fixed, indexed and immediate annuity needs as well as life insurance. In this later role he is responsible for defining and disseminating information to his producers on the best products available of the 60+ carriers represented by Brokers Edge as well as providing sales ideas that his agents can use.

All told, Mike has spent the last 25 years of his career either in a direct sales or sales support and training role devoted primarily to the annuity & senior market.

 Fixed Annuities are long term insurance contacts and there is a surrender charge imposed generally during the first 5 to 7 years that you own the annuity contract. Withdrawals prior to age 59-1/2 may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Any guarantees of the annuity are backed by the financial strength of the underlying insurance company. Indexed annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company. Surrender charges apply if not held to the end of the term. Withdrawals are taxed as ordinary income and, if taken prior to 59 ½, a 10% federal tax penalty. Investors are cautioned to carefully review an indexed annuity for its features, costs, risks, and how the variables are calculated.