Annuity Calculators are Helpful, But Talk with an Annuity Specialist to View the Big Picture

FixedAnnuityDirect’s Annuity Calculators are useful for getting a quick annuity quote. For those who have a solid understanding of how annuities work, the Annuity Calculators streamline the annuity buying process. However, those who are interested in the idea of an annuity but aren’t exactly sure how they work should take the time to speak to a FixedAnnuityDirect.com Specialist.

First, you have to decide which kind of annuity is right for you – an immediate annuity or a deferred annuity. Using Annuity Calculators can help you decide. Both products offer different benefits to the consumer. With an immediate annuity, you receive payouts instantly for a certain term, for example 5 years, 10 years, or for life. A deferred annuity acts as a savings vehicle, allowing you to lock in a specific interest rate for a time period. An individual using $100,000 to purchase a 10 year deferred annuity policy at 6 percent interest will have over $179,000 at the end of the annuity’s guarantee period, assuming that the individual does not withdraw any of the funds. A subset of deferred annuities is the fixed index annuity, which ties its interest earnings to a particular stock market index, such as the S&P 500.

While most annuities are straightforward, there are varying elements. An Annuity Specialist is trained to look at all the elements before recommending a particular annuity. Some of the factors to consider are special offers being made by insurance companies. A common offer is an upfront bonus or an introductory interest rate for the first year. Another factor is the state that you live in. Every state has different insurance regulations and what is available in one state may not be available in another. Other factors taken into consideration are the annuity purchaser’s age, amount of premium deposit and financial goals.

As you can tell, deciding which annuity to buy is a big decision. Run some preliminary numbers on various Annuity Calculators, but remember that nothing beats speaking with a trained Specialist who can help you consider all the angles. FixedAnnuityDirect.com’s Specialists are available to walk you through the options – call 1-877-519-8599 to speak to one today.