Rick Dennis
Conservative Retirement Solutions, LLC
Get an Annuity Quote – Some Things to Consider
The word annuity in and of itself is an enigma.
What is an annuity? In its purest form, an annuity is a contract between an individual and an insurance company spelling out contractual obligations, benefits and restrictions.Does an annuity make sense for you and should you investigate owning an annuity?There are numerous reasons for owning an annuity, but the most often considered reason is using an annuity for income. Annuities possess an excellent feature; an annuity will guarantee income for as long as a person wants, even for an entire lifetime. If you are considering exploring an annuity and are interested in getting an annuity quote, here are a few simple rules. Annuities come in two basic flavors: those sold as securities and those sold as insurance.- Annuities contain guarantees.
- Guarantees can be anything from an interest rate to a named beneficiary.
- Annuities sold as securities contain fees, expenses and charges, annuities sold as insurance do not.
- Annuities sold as securities can offer both the highest rate of return as well as exposure to risk or loss.
- Annuities sold as insurance will not return the highest interest rate, but the funds in the account are protected from loss.
- The financial stability score for the insurance company assigned by an independent rating service.
- The amount of interest you will earn on your annuity.
- The reason for the annuity and what is the actual benefit desired.
- What is the contractual time period of the variable annuity (in years)?
- What are the mortality and expense of annual fees?
- Does the contract charge to manage your money and if so, what are the fees?
- Does the variable annuity contain any additional riders and if so what are the fees?
- Does the variable annuity allow for investment in a fixed interest rate and if so what the interest rates are?
- Can the variable annuity be used as a pension income and if so are there charges for setting the pension up?
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Rick Dennis
Conservative Retirement Solutions, LLC
1800 St. James Place
Suite 303
Houston, Texas 77056
rick.dennis@retirevillage.com
(713) 206-3885
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