Choose the question before the product
Immediate and deferred annuities differ in when payments begin. Fixed, indexed and variable annuities differ in how value or returns are determined. Start with when you need income and how much money you need to keep accessible.
- Fixed annuities specify guaranteed interest or payment terms in the contract.
- Indexed annuities use a formula tied to an index. The contract can limit credited gains and define exposure to losses.
- Variable annuity values can rise or fall with the selected investments. Read the prospectus and contract before making a decision.
Understand where guarantees come from
Annuity guarantees depend on the issuing insurer’s ability to pay claims. Annuities are not bank deposits and do not have Federal Deposit Insurance Corporation (FDIC) insurance.
Put access beside the headline rate
Surrender charges, withdrawal provisions, market-value adjustments, optional benefits and contract dates can affect what a comparison means.
Verify the exact contract and state
Product versions, rates, riders and availability can differ. Current carrier documents and licensed review control.
Know how a relationship is paid
Before requesting an introduction, you will see who receives your inquiry and how Coverage Steps is compensated. Ask the seller about commissions and other compensation, too.