Greg V
Recycles dryer sheets
I would need to know more about the VA in order to make any pertinent comments. Among the questions I have:
1. Is this a deferred or immediate annuity? If deferred, how many years before you start to collect.
2. What are the surrender charges if your situation changes and you want to take your money out? How much are the other sales charges and fees?
3. What portion of your investable funds are your dedicating to the VA?
4. Are your stated returns and death benefit guaranteed regardless of market performance?
5. What is the financial strength of the underwriting company?
Etc, etc.
I have not found a VA product that financially makes sense for me after I've had the chance to review all the details, but am always willing to see what's out there. The industry is always tweaking their products and bringing out new ones. It's interesting to learn about the new things.
These are complex instruments and the cautions raised by multiple posters are important to bear in mind...though it is probably academic in this case as you have already purchased the VA.
1. Is this a deferred or immediate annuity? If deferred, how many years before you start to collect.
2. What are the surrender charges if your situation changes and you want to take your money out? How much are the other sales charges and fees?
3. What portion of your investable funds are your dedicating to the VA?
4. Are your stated returns and death benefit guaranteed regardless of market performance?
5. What is the financial strength of the underwriting company?
Etc, etc.
I have not found a VA product that financially makes sense for me after I've had the chance to review all the details, but am always willing to see what's out there. The industry is always tweaking their products and bringing out new ones. It's interesting to learn about the new things.
These are complex instruments and the cautions raised by multiple posters are important to bear in mind...though it is probably academic in this case as you have already purchased the VA.