Ask Terry Questions Annuity distribution help

Annuity distribution help

By Terry Savage on July 12, 2020 | Financial Planning / Retirement

We have a Prudential annuity purchased through Alliant Credit Union 7 years ago. When we decided to take distibutions we were offered a CUNA zone annuity that after 1 year would pay us $7,000 a year instead of $5,000 with Prudential. Our financial advisor with Edwards Jones said they didn’t sell this annuity because they were “hard to calculate and didn’t recommend it. Credit Unions seem to have a good score on line but we don’t want to make a mistake with about 1/4 of our retirement investment. Do you have an opinion about CUNA zone annunities. I know credit unions have been around for many decades – but are they dependable? We would really appreciate your expertise.

Terry Says

I’m guessing your broker doesn’t sell these because there are no big commissions! But that’s just a guess, and I’m not familiar with this product. So I’m going to send you directly to my annuity expert “Stan the Annuity Man” at 800-509-6473. He is a friend of the consumer when it comes to annuities. And he will be his “brutally honest” self in explaining the alternatives to the choice you are being offered.

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