![]() Also, look at the interest rates for payout.īut, since your time is valuable, we’ve gone ahead and listed the 25 best annuities that you should purchase. Customer service and what you expect your payments to be should also be factored in. Some other considerations? How easy it is to sign up and fund the annuity, as well as access your money. Best, Moody’s, Standard & Poor’s (S&P), and/or Fitch, etc. You can make sure that they’ve received a high rating from third parties like A.M. ![]() As such, you need to make sure that you’re working with an insurance company that’s in it for the long haul. They’re also supposed to last you a lifetime. Select a financially strong insurance company.Īnnuities aren’t backed by institutions like the FDIC. And, more importantly, that they’re not selling the wrong annuity just to cash in on a commission. Find out how much they’re making off the sale. Since your broker has to put food on the table, they’ll earn a commission from annuity sales. For example, if you withdraw any money before you’re permitted, you’ll be subject to surrender charges. It should be clearly stated when you can access your money, how much you’ll be receiving, and the fees associated with the annuity. Check the annuity rates and terms.īefore committing to a contract, carefully review the rates and terms. Select the annuity that best aligns with your retirement plan and doesn’t exceed your risk threshold. If you’re already in retirement, then a deferred variable annuity probably doesn’t make much sense. It’s kind of the same thing with annuities. If you’re allergic to peanuts, then you should stay far away from peanut butter ice cream.
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