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Local credit union annuity?
Old 04-22-2011, 09:52 PM   #1
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Local credit union annuity?

It is a two year fixed annuity the first year at 4.4% and the second year at 2.4% does this sound good and would you do it?
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Old 04-22-2011, 11:40 PM   #2
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There are too many types of annuities to count. Which kind? After that, I'll let the rest of the group go for it.
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Old 04-23-2011, 12:07 AM   #3
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It is a two year fixed annuity the first year at 4.4% and the second year at 2.4% does this sound good and would you do it?
1. It sounds too good to be true.
2. No.

But if we were able to read the details on a website then we might be able to give you a better reasoning behind the "No" part.
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Old 04-23-2011, 12:54 AM   #4
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1. It sounds too good to be true.
I agree, those rates sound really high compared to what else is out there. What's the catch? If by some chance there is none, those rates are hard to argue with.
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Old 04-23-2011, 06:26 AM   #5
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Something dosen't sound right. Do U have a link to the product?
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Old 04-25-2011, 11:05 AM   #6
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Sorry everybody for the wait the credit union was closed for the weekend. It is a 6 year annunity. 4.4% the first year 2.4% the second year saleman's said they have a good record of raising rates when they rise. But this is not guaranteed. Years 3,4,5,6 they set each year with a floor of 2%
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Old 04-25-2011, 11:22 AM   #7
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6 years is a LONG time. Also, fixed annuities are typically the FIRST to DROP their rates when rates go down, and the LAST to raise their rates when rates go UP..YMMV........
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Old 04-25-2011, 11:23 AM   #8
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Sorry everybody for the wait the credit union was closed for the weekend. It is a 6 year annunity. 4.4% the first year 2.4% the second year saleman's said they have a good record of raising rates when they rise. But this is not guaranteed. Years 3,4,5,6 they set each year with a floor of 2%
That's not as attractive as a 2-year with those rates. If you are locking in for six years, you can get 3.4% with a full six-year guarantee for $100k+ in premium. 3.3% for less than $100k. 2.9% if you want an A+ rated company instead of A.
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Old 04-25-2011, 12:09 PM   #9
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dgoldenz can you give a link?
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Old 04-25-2011, 12:52 PM   #10
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dgoldenz can you give a link?
I believe we've asked the same of you as well...
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Old 04-25-2011, 01:07 PM   #11
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dgoldenz can you give a link?
I can't post a link because there's no product-specific information on their website. It's the Focused Growth 6 annuity with The Standard. I can e-mail you a copy of the brochure if you want to send me a PM or post your e-mail address. The current rates won't be stated anywhere though unless you have an illustration run.
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Old 04-25-2011, 03:26 PM   #12
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I believe we've asked the same of you as well...
It is my first time at the site but it is somewhere in here

https://www.westernsouthernlife.com/...verview_an.asp
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Old 04-25-2011, 03:28 PM   #13
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I can't post a link because there's no product-specific information on their website. It's the Focused Growth 6 annuity with The Standard. I can e-mail you a copy of the brochure if you want to send me a PM or post your e-mail address. The current rates won't be stated anywhere though unless you have an illustration run.
I think I found it

The Standard - Related Information
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Old 04-25-2011, 03:30 PM   #14
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It is my first time at the site but it is somewhere in here

https://www.westernsouthernlife.com/...verview_an.asp
W&S is an insurance company, not a credit union....probably just the credit union selling the insurance company's products.
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Old 04-25-2011, 03:31 PM   #15
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You are right.
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Old 04-25-2011, 03:32 PM   #16
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Yes, that would be it. I must have missed the agent section of the website.


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You are right.
I have never found the products offered by banks to be the best rates available....ever? Bank reps usually have no idea what they're selling either.
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Old 04-25-2011, 03:33 PM   #17
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What is the standard rated? I think W&S is rated A.
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Old 04-25-2011, 03:35 PM   #18
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What is the standard rated? I think W&S is rated A.
A rated with AM Best. Lincoln National is A+ and is at 2.9% for 6 years...that's the highest I know of for an A+ company.
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Old 04-25-2011, 05:16 PM   #19
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Thanks everybody. I am guessing that many of you given a choice go ahead and buy a cd instead.
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