What Is The Best Annuity?

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What do you want the annuity to accomplish for you?

That question is best answered with another question.

What is the purpose of the annuity?

What would you like it to accomplish for you?

Many companies and annuity marketing organizations will tell you about how great their annuity products are, and generally, their features and benefits are solid and well thought out. The issue isn’t the product, but how the annuity makes sense for your specific situation.

As an example, if you require safe, secure regular income, the benefits of tax deferral would have no bearing. The same is true for saving for retirement. If the beneficiary benefits are embellished, then the use of an annuity may not make sense.

A simple rule to follow is this: every annuity is a great product but only if it makes sense to you and your situation. It is essential you collect the facts and match your needs up to the benefits available.

Considerations should include topics such as risk tolerance, income needs, long-term care needs, guaranteed interest rates, payout options, inheritance, fees (if any), and other contractual features.

So to answer the question, which annuity is best? The answer is it all depends on what the use of the annuity is and what you want it to accomplish.

Tips for selecting the best annuity for you:
• Compare the features and rates of different annuity plans
• Review the annuity provider for service history
• What is the guaranteed interest rate?
• Does the annuity contract contain surrender penalties? If so how long are they? Are the fees forgiven in the event of death? In the event the annuity is used as income?
• Are there any fees or expenses?
• What are the options for accessing your funds?
• Does the beneficiary receive the full value of the annuity?
• What are opportunities for income offered in the contract? In conclusion, always take your time and make sure the annuity matches up to your expected use.

These basic questions can provide the answer if selecting an annuity makes sense for you.

 

 

About syndicated columnists

Syndicated Columnists is a National organization committed to a fully transparent approach to money management. Providing original content aimed at the financial market, their articles are diverse, easy to understand, and targeted to the average reader. These columnists pool and share article information to provide the highest quality experience for their readers.

View The Best Annuity Rates Available Now

Annuities are a safe and reliable investment. They can transform your savings into a more predictable income. Speak with one of our qualified financial professionals today to find out how an annuity can offer you guaranteed monthly income for life.

Our unique system of “Pooled and Shared” articles by our authors, our outside contributors, and writing assistants provides efficiency, enhanced collaboration, and greater topic accessibility. This allows for a better utilization of content and productivity while delivering meaningful content to our readers.

Content in our posted articles is deemed to be accurate but topics, facts and laws can change. It is always a good idea to verify facts before making decisions. Always seek authorized and professional advice regarding financial decisions which includes investing, annuity purchases, tax planning, changes in a financial portfolio and retirement planning.

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