Fixed Annuities – Finding the Highest Annuity Rates
If you’re exploring annuity options or considering the purchase of a fixed annuity, you’ll certainly want to do your homework. Annuity rates can vary dramatically from one annuity to the next. And, in addition to the stated annuity rate, the interest guarantee term and other product features should be thoroughly reviewed and understood before making a buying decision.
Some fixed annuities, called multi-year guarantee annuities, operate much like a bank certificate of deposit (CD). You’re quoted a guaranteed annuity rate for a set period of time, typically 3-10 years, and you choose the term and interest rate that suits you best. During this multi-year period, your money is securely deposited in the annuity contract, earning a competitive and guaranteed interest rate. At the end of the annuity’s initial guarantee term, you are free to withdraw all of your principal and accumulated interest earnings, or renew for another term with the same insurance company, or you can exchange your annuity for a better yielding annuity offered by a different insurance company. And, as an added bonus, as long as the interest earnings remain within an annuity, they are tax-deferred until withdrawn.
At AnnuityAdvantage, we offer numerous tools and resources to assist you in researching your options. Here are some links to pages on our website that you may find helpful:
Top Multi-Year Guaranteed Annuity Rates – a summary of the highest yielding fixed annuities for each guarantee term, arranged by year.
Annuity Rates & Quotes – an overview from where you can navigate to the annuity rate topics and quoting services that most interest you.
Newsletter – sign up to receive our free Annuity Rate Update Newsletter.
Monitoring annuity rates over a period of time can assist you in capturing a good interest rate. On the other hand, keeping your money in a low interest bearing savings or money market account for too long can be costly, due to the lost interest earnings potential that can never be recovered.
AnnuityAdvantage was designed to make the process of shopping for annuity rates as simple, easy and comfortable as possible. But, we also believe that annuities should be purchased in an informed way, only after fully understanding all of the product details. To that end, we’re here and ready to be helpful in any way we can, please feel free to give us a call.