REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Yes, I know you're thinking "Crap, another anti-annuity thread", but this time it's different - at least a little different. This article was written by an annuity salesman (!) and lists the following reasons you should NOT buy one:
You don't need an annuity...
1. If you can professionally manage the money yourself
2. If you want real market type growth
3. If you are thinking about replacing your LTC policy
4. If you want everything packed into one product
5. If you are only being shown one product from one insurance carrier
6. If you don't need additional lifetime income
7. If you see no need to transfer risk
Perhaps the most useful information in the article was this recommendation:
You don't need an annuity...
1. If you can professionally manage the money yourself
2. If you want real market type growth
3. If you are thinking about replacing your LTC policy
4. If you want everything packed into one product
5. If you are only being shown one product from one insurance carrier
6. If you don't need additional lifetime income
7. If you see no need to transfer risk
Perhaps the most useful information in the article was this recommendation:
7 reasons not to buy an annuityIf the sales pitch sounds too good to be true, then write down in detail exactly how you think the annuity being proposed is going to work according to what the agent said. Then sign and date that list, and have the agent sign and date it as well so you can have them fully endorse their recommendation. This is just an effective and simple idea to fully flush out the contractual realities of the policy.