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Single Premium Deferred Annuity
Old 10-29-2008, 11:47 AM   #1
Dryer sheet aficionado
Join Date: Mar 2008
Location: Midwest
Posts: 30
Single Premium Deferred Annuity

I would appreciate thoughts on Single Premium Deferred Annuities. They can be had for no upfront charge and no surrender charges (after a commitment period). As a major point of comparison with CDs, are you really balancing a higher interest rate and State (less secure) insurance versus a lower interest rate and FDIC insurance?

  • Guaranteed interest rate for XX years
  • Tax deferral on interest (If not taken as distribution)
  • Money is tied up for XX years
  • More significant surrender charges versus CDs
  • Not FDIC insured, but (some) state insured to $XXX limit
Comments on these pros and cons? More to add?

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