Fixed Indexed Annuities FAQs
Why use an insurance adviser or broker?
An insurance adviser or broker is essentially your trusted liaison to a variety of financial products and services. They are usually the ones on the front line, asking you the important, often never-thought-of questions, providing you with accurate answers and deciphering the often overwhelming stream of information and options. A broker must also gather the information you give him or her, then go out and find the perfect solutions to suit your particular goals and review them with you. Without one, you are often taking a uneducated risk with hard-earned savings.
What happens if I cancel my insurance policy, later?
Certain types of permanent insurance policies may carry a penalty, like a CD, so find out about this before you commit to it.
If you have a simple term policy, you may cancel at any time without penalty.
Why should I do an annual policy review?
It’s like changing your motor oil every 3000 miles. If you don’t do it, you may discover your car no longer works when you need it most. Most people forget to do this until it’s too late. Your situation often changes throughout the course of life … especially in these times. A new home, car, job, family member, or the lose of any one of those, can change your entire financial position. It’s best to be on top of those issues than be a victim of them. Further, you may be paying too much or own an older policy that is about to expire. With that in mind, new, more comprehensive options are developed by insurers several times a year. In some cases, it may be wise to replace a current strategy with one that makes more sense for your current goals.
I just bought a home, and I already have life insurance. Should I consider mortgage insurance, as well?
What’s the best way to purchase an insurance policy?
Should I buy term or permanent insurance?
Why use an insurance adviser or broker?
What happens if I cancel my insurance policy, later?
Certain types of permanent insurance policies may carry a penalty, like a CD, so find out about this before you commit to it.
If you have a simple term policy, you may cancel at any time without penalty.
What will affect the rates I get?
How do I know I can trust an insurance company?
Each carrier has a rating, usually A – F. Make sure your carrier has at least an A+ rating, which means it has excellent financial strength and claims paying ability.
Are rates the same for each age group?
Is my insurance tax-deductible?
I was considering an annuity. Is it true that annuities are not liquid?
Annuities should be established with funds not earmarked for emergencies, but for savings. Ideally, you’ll want your deposits to accumulate interest, safely and undisturbed, for at least ten or more years. The longer, the better. However, newer annuities do allow surrender-free withdrawals at yearly intervals. Find out the details of this before you commit to any annuity.
What about the rates I see on television and in newspapers?
How do I know which type of insurance works best for me?
It’s always best to seek out the advice of a trusted, insurance professional. That way, you can discuss all goals, short and long-term, and the best ways to accomplish them within your budget and time-frame.
How do I know I can trust an insurance company?
Why use an insurance adviser or broker?
What happens if I cancel my insurance policy, later?
If you have a simple term policy, you may cancel at any time without penalty.
