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Researching Annuities and Obtaining Annuity Quotes

Published: January 08, 2016 Categories: Annuity Education, Immediate Annuities

Doing research is integral when making any type of big purchase. You wouldn’t blindly purchase the first mortgage offered to you, or buy the first car that you see. Researching a product before buying helps to provide you with confidence that you are getting the best price and the best features that most appropriately meet your needs. When it comes to annuities, doing pre-purchase research and getting multiple annuity quotes is just as important.

AnnuityAdvantage offers a variety of annuity research tools and annuity quoting services. For starters, you may want to visit our Annuity Rates & Quotes page, from where you can navigate to the topics and quoting services that most interest you.

Annuities can be divided into two different broad categories: immediate and deferred. Immediate annuities begin paying out immediately (hence the name) and provide consumers with a guaranteed income for as long as they live. When buying an immediate annuity you are buying peace of mind, because your monthly income will never go away. Immediate annuities offer numerous payment options, which in some cases can reduce your monthly income but provide additional guarantees to your beneficiaries. A joint life option means that the immediate annuity payment continues to be paid to the joint payee after your death, providing them with guaranteed lifetime income. A period certain option of 10, 20 or 30 years guarantees that you or your beneficiary will receive payments, even if you pass away, for the number of years that you specify.

Deferred annuities are designed for the accumulation of interest earnings within the policy, with income payments being activated at a future date. Most deferred annuities lock up your money for a specified term. After the surrender term is complete, you are free to convert your money into an immediate annuity, renew for an additional term with the same insurance company, take a lump sum withdrawal, or you can exchange your annuity into another deferred annuity, maintaining the tax-deferred status of your funds.

Annuity rates are constantly changing, so it’s best to gather a number of annuity quotes before making a decision and to refresh those quotes immediately preceding your purchase, to ensure that nothing has changed and no other annuity product has unexpectedly become more attractive.

We have helped thousands of clients through this process and would be happy to provide rates and obtain annuity quotes on your behalf. There are never any fees or charges for our services. Our tagline is, “The easy, informed way to buy annuities” because we believe the annuity buying process should be as easy and comfortable as possible, but that it should also be done in an informed way.