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Fixed annuities are offered by many major insurance companies. You can purchase these contracts through experienced brokers that understand the complexities of an annuity and can use their expertise to determine which type of contract is best for you.
There are many variations of annuity contracts, including the initial interest rate. Also, surrender periods and length of the guaranteed rate (initial rate) must be taken into consideration while comparing and shopping for the most suitable contract.
They can be a valuable tool when planning for retirement.
The first rule of thumb is not to purchase them from a proprietary career agent who generally offers the company’s product line personally benefiting from their close relationship. Independent agents or registered representatives that have access to the majority of annuity product inventory through annuity brokerage outlets.
As an independent agent, I work with several A+ rated insurance companies that offer a wide range of annuities. I also have surrounded myself with a very knowledgeable and professional team. Plus, I do extensive research on these products. This allows me to provide a product that is customized for the person wanting to purchase an annuity. That being said, when you are ready to purchase an annuity make sure you are dealing with somebody that you trust and that is knowledgeable in this area, as there are many annuities from which to choose.
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There are many variations of annuity contracts, including the initial interest rate. Also, surrender periods and length of the guaranteed rate (initial rate) must be taken into consideration while comparing and shopping for the most suitable contract.
They can be a valuable tool when planning for retirement.