Annuity Rates

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An increasing number of retirees who are on the lookout for additional sources of income are researching annuities. An annuity is simply a contract between a financial service firm or life insurer and a private individual. Individuals pay a cash amount for investment purposes, and as such the company makes periodic payments to individuals per annuity contract provisions.

What you earn on your annuities is tax deferred, that is you do not pay your federal income taxes on your gains until you withdraw your funds. The majority of annunities permit the contribution of additional funds on your part any time. IMSA (The Insurance Marketplace Standards Association) recommends that you consider the following if you’re considering an annuity purchase:

Is this Annuity I’m Researching Right for Me?

Make sure that you are aware, and have a full understanding, of what you’re investing in. Review the annunity in question, taking into account if it’s most appropriate in regards to your age, your personal financial requirements, investment objectives, and of course your tolerance for risk.

Are You Going to Need the Cash You’re Investing?

Annuities are long term investments. If it turns out that you need to take money out of it in the next few years, there’s a strong probablility that you’ll be subject to penalties and/or other fees.

What are My Potential Gains or Losses if I Swap Annuities?

Compare your current annuity with the new annuity that you’re considering. Does it have the same benefits? Are you going to get saddled with a surrender charge for the swap? Will you be subject to new surrender provisions?

When selecting an insurer that provides annuities, make sure the insurer has a good to excellent reputation. An excellent starting point is to see if the IMSA logo is available. Only insurers who have proven through an extensive independent review that they’re committed to the Insurance Marketplace Standard Association’s stringent Principles and Code of Ethical Market Conduct are allowed to display the IMSA logo.

You can conduct a search for reputable, legitimate annuities right here on this website. Simply enter your Zip Code above – it just takes 1 minute to answer a few quick questions on a brief one page form – so that you can get and compare absolutely free immediate annuity quotes with no risk or obligation now or ever, choosing the best one for you only if it fits in with your financial goals.

Best Wishes and May You Achieve All of Your Financial Goals,

The Annuity Rates Team