Calculate how much you have accumulated
in your retirement savings. Determine
how much of a chance there is of you
outliving your savings.
Choose the type of annuity right for
you. Select between a guaranteed payout
in a fixed annuity or possible higher
(or lower) gains with a variable
Estimate how long your money will remain
in the contract. You don't want to run
the risk of paying hefty surrender fees
and taxes if you remove it too early. On
average, it takes 10 to 15 years of
tax-deferral to warrant a variable
annuity over a mutual fund.
Examine the financial status of the
insurance company. If the company goes
bankrupt, any state protection will be
limited and chances are, you will lose
out considerably on your
investment. Check your insurance
company's financial strength.
Examine the fine print of your contract
carefully, especially the mortality and
expense (M&E) fee structure. Make sure
you are getting what you're paying for.
Did you know?
Prices are fixed by law
You cannot find better medical insurance prices anywhere for the same product.