|
|
Annuities
Things to Consider When Selecting an Annuity
Conduct a careful evaluation before you invest in an annuity. Consider the anticipated investment performance of the annuity, the fees being charged, and the soundness of the insurance company that stands behind your annuity. Evaluating the Company The financial strength and investment philosophy of the company issuing the contract is critical to the safety of your annuity contract. Check out the insurance company carefully. Stay with companies that get high safety ratings from at least two companies that monitor insurer's financial health. The major insurance rating organizations are A.M. Best, Moody's, Standard & Poor's, Duff & Phelps, and Weiss Research. The ratings are based on a company's claims-paying performance, the quality of its investments, and its ability to withstand economic downturns. IMPORTANT NOTE: Theoretically, in most states, an insurance company could sell your annuity contract to a company that is less sound. This shouldn't happen without your knowledge and consent. Review your statements carefully. If you receive notice of a sale, contact the insurance company and withhold your consent until you check out the other company. Share Article:
Investment and insurance products and services are offered through Osaic Institutions,Inc. Member FINRA / SIPC. Osaic and Friend Bank are not affiliated. Products and services made available through Osaic are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.  |