How Do You Buy Annuities?
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63333 POINTSview profilePeggy MaceMost of the U.S.To buy annuities, you shop for them from insurance agents. If purchasing a fixed or indexed annuity, the life insurance agent must be licensed in life insurance. If purchasing a variable annuity, the agent must also have some securities licenses. You will review the features of different options, make your decision, then pay the premium that puts your annuity into effect. If your money is tied up elsewhere, you may need to roll it over into the annuity.Answered on July 11, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaAnnuities require an application. In the application you must clearly identify yourself, the proposed annuitant and a beneficiary and perhaps a contingent beneficiary. You must identify the source of the money and your experience as an investor. If the annuity is being used in an existing plan, such as a school sponsored 403(b), the details of that plan must be included.Answered on August 18, 2014flag this answer
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