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| A high quality annuity portfolio featuring top-rated carriers. | ||
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Annuities
We have the ability to represent any annuity from any insurance company. We choose to work with only top-rated insurance carriers which offer high-quality annuities that are consumer friendly. What makes an annuity consumer friendly? In our opinion, an annuity is consumer friendly when a reasonable person can review the product information and understand the basics workings of the annuity contract. If you need to have an attorney review the annuity contract, chances are that the annuity isn't very consumer friendly. There are certain features of an annuity that immediately send of warning signals about the transparency of the product. |
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Product Features
There are certain key features of an annuity that will give you an idea of the consumer friendliness of the product. The most important feature to compare is the minimum lifetime interest rate guarantee. This is especially important when comparing any annuities whose return is tied to a market index. You need to know what your lowest possible crediting rate is on the annuity you purchase.
The next feature to compare is the death benefit. Some annuities will pay the beneficiary the cash surrender value upon the owner's death. The quality annuity will pay the beneficiary the cash accumulation value upon the owner's death. Some annuities force the beneficiary to accept payments over a number of years in order to receive the full value. Be careful because some annuities pay a very low interest rate in the years that you are forced to defer the withdrawals.
Annuities usually provide some kind of annual withdrawal feature that allows the contract owner to make withdrawals from the annuity without any penalty. This is assuming that the owner/annuitant is over the age of 59-1/2 because the IRS imposes a penalty on early withdrawals from annuities before that age. Quality annuities will allow free withdrawals up to 10% of the accumulation value every year starting the first year.
You should understand how the annuity works. You should know what is guaranteed and what is standard company practice. You should ask about the general reputation of the insurance company. You should also ask to see an interest rate history if you are purchasing a guaranteed interest annuity where the company can change your renewal interest rate after the initial interest rate guarantee period ends. You should check the ratings assigned to the company by A.M. Best, Standard & Poor's, Moody's and Fitch. |
Annuity Product Choices
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Why Buy Annuities Through Us?
It's simple. We won't sell you an annuity unless we're confident you understand the product features and that it is right for your situation. We've had plenty of people call us from all over the country asking us about certain annuities that they're heard about from friends or local agents. One popular annuity product that we frequently hear about is the bonus annuity. A person will call us and ask about a certain annuity paying a 10% up-front bonus. After we fully describe how the product really works and we tell them there is no free lunch, they still seem enchanted with the notion of free instant money. No company will just bonus someone 10% instantly without a guaranteed way of getting it back. Period.
If you work with us to find the right annuity for your situation, you are assured of buying a high-quality annuity that is consumer friendly and that you understand. We provide full disclosure up-front. We'll tell you about all the annuity product features, not just the ones that sound good. We'll also tell you why we believe that the annuity we recommend is right for you. Our goal is to have you come back to us for your financial and insurance needs and to have you refer your friends and colleagues to us. Our goal is not to make a quick sale at any expense. We value our reputation and our goal is to help you reach your goals. We realize this may sounds corny to some but you have no idea what awful products are being sold every day to unknowing consumers. |
Product Information
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Copyright 1991-2007 Continental Five Insurance Group, Inc. All Rights Reserved.
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