Fixed annuity
My advisor is saying I should put $200,000. Into a fixed 5 year annuity. I can take 10 percent out each year with no penalty but I won’t. They are running around 6 percent. I am ok and financially sound with not touching this money for 5 years. Pro’s and con’s? This is with nationwide.
Thanks
Terry Says
Are you sure you know all the details, including what happens at the end of 5 years when the rate changes? Maybe drops to below market levels? Do the surrender charges end in 5 years, as well? Or could you be stuck in this product for at least 10 years, or more?? ASK!!
There’s a reason these products are sold aggressively: big commissions for the agents. And those commissions come out of the ability of the insurance company to make money off of this “gift” of a promised 6%. How are they doing that? What’s the catch??
If you want a professional evaluation of this deal and all its details go to
www.StantheAnnuityMan.com and sign up for a call. Feel free to use my name. I always trust Stan’s advice. He can find the “hook” that you don’t yet understand!
