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Anyone has Allianz 222?
Old 02-24-2020, 11:22 AM   #1
Confused about dryer sheets
 
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Anyone has Allianz 222?

Greetings. I have been a long-time reader of this Forum and it has tremendously helped us in planning for our ER. It is very informative and accurate. Thank you everyone for your help and contributions .
Currently, we are being offered Allianz 222 Fixed Indexed Annuity (FIA). I have the following questions for Allianz 222 FIA account holders, if any:
1. What have been your past rates of return?
2. Annually, are the returns better or worse than CD rates?
3. Are you happy with your rates of return?
4. Would you recommend it for a small portion of one's total net worth?
Click here for their website. Thank you.
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Old 02-26-2020, 05:01 PM   #2
Recycles dryer sheets
 
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Here's the first hit I got:
http://blog.runnymede.com/an-imparti...nz-222-annuity

basically-- it's got a full ten years of surrender period
max annual increase of 3.5% (per the articles update)
-- the "222" introduced in 2013, after a disastrous 2012 of its predecessor, has already been reconstructed in 2015 after the first year having negative return for its (self constructed) index (remember... you don't get any dividend return in a FIA)...and it can be reconstructed every anniversary year ... but the surrender fee won't change so you would be still be stuck

basically.... just like virtually all FIA... they are SOLD
(the "bonuses " that are espoused are meaningless... see article). In one year cited by the article... it returns about 3% whereas a true S&P index would have returned 12% MORE

so : hard NO
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Old 02-26-2020, 05:07 PM   #3
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Quote:
Originally Posted by WilNJ View Post
Currently, we are being offered Allianz 222 Fixed Indexed Annuity (FIA).
These products (indexed annuities) benefit the seller/agent and insurer far, far more than whoever they get to fall for their sales pitch to purchase one. Tell whoever is offering it to you, "Thanks, I'll pass".
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Old 02-26-2020, 05:12 PM   #4
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These products (indexed annuities) benefit the seller/agent and insurer far, far more than whoever they get to fall for their sales pitch to purchase one. Tell whoever is offering it to you, "Thanks, I'll pass".
+1000

These are always a bad buy. If you really want an annuity a SPIA is the way to go. I'm not sure anyone needs an annuity but if you want one.
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Old 02-26-2020, 05:18 PM   #5
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Run. These things are a cornholing for the buyer.
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Old 02-26-2020, 05:22 PM   #6
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+1000

These are always a bad buy. If you really want an annuity a SPIA is the way to go. I'm not sure anyone needs an annuity but if you want one.
+1
In general only an SPIA could make sense as an annuity and even then makes more sense in one's later years.
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Old 03-01-2020, 08:42 PM   #7
Confused about dryer sheets
 
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Thank you everyone for your advice. We agree with you, we have decided not to purchase an FIA.
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