Fixed Indexed Annuities can be a great tool for your retirement. The nagging question is if they are so good, why haven’t I heard of them before? Great question. How does one Evaluate Fixed Index Annuities?
First a question: When you visit a Buick dealership will they tell about the features of a Ford? How about if you walk into an Chinese Food Restaurant, will they be featuring as their best dish an Italian Specialty?
When you meet with a Stock Broker will they be knowledgeable about life insurance products? Will they refer you to an insurance specialist?
As you answer those questions consider that the opposite is also true – will an insurance only person refer you to an investment advisor? NOTE: a Stock Broker and an Investment Advisor are similar, however the Investment Advisor must act as a Fiduciary. This has not been the case with Stock Brokers – they are held to a suitability standard, until next year, 2017.
Sounds confusing? It is!
Back to the matter at hand, Fixed Indexed Annuities. Here is an article that covers advantages of Fixed Index Annuities. The main concern almost everyone has is money or income. The right Fixed Index Annuity can help address and even eliminate the concern about income for life. In this article Income Riders are explained, including issues to consider.
Some articles falsely talk about the upside and ignore the downside. This article seems to address a little of both.
With my background in Software Engineering, I use software to help determine what fits your needs. Your concerns are #1. What is the gap you have, how do we close that gap and is there a better way or is the fixed index annuity the best option?
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