How To Find The Best Annuity Quotes Online
When it comes to planning for the future getting online annuity quotes can save you a lot of money
. Investing in your retirement is important, but searching for the right annuity plan for you and your family can be time consuming. Here are some tips to avoid many of the mistakes people make when taking out an annuity.Annuities usually have two phases, the accumulation period and the repayment period. For the average Joe this amounts to a phase where you pay in money, and a phase where money is paid back to you (usually after you retire). There are four types of annuities. Fixed annuities, variable annuities, equity indexed annuities, and annuities. Let's take a quick look at what these words mean:
Fixed annuity: This type of annuity offers the most safety for investors. It functions much the same as a bank Certificate of Deposit but with the bonus of higher interest rates.
Variable annuity: These annuities are the riskiest, which of course means that you can earn the most money with them. They are similar to personal stocks or bonds. Gambling with your retirement future is a big risk so these types of annuities are not recommended and are usually only taken out over a short period of time.
Equity indexed annuities: The interest that you earn on this type of annuity is linked to an equity index such as the Standard & Poor's 500 (the S&P 500). These annuities are difficult to calculate without specialized financial knowledge so get a financial expert to help you.
Immediate annuities: the clue is in the name with this one, the annuities start repaying on the lump-sum investment immediately. The payouts can be at various intervals like quarterly or annually.
When you begin your online search target the type of annuity that you want. This way you can cut down on the time you spend looking. Using a comparative website can help a great deal when trying to research which companies are out there. Comparative websites collect information about the product you are looking for and present you with the results. You can then search through these result to find an option that suits you.
Most online brokers and annuities companies offer a free online annuities quote. To get the quote these brokers ask you for some basic personal information (remember: never give out private personal information such as credit card numbers) and some estimates about your lump sum amount and the dates you want to start receiving payments. Once you have provided this information you can choose how you would like to be contacted, by telephone or email.
It usually takes less than 24 hours to receive a quote once you have submitted the online form. If you need the quote quicker than that there is often a toll-free number provided as well.
There are a lot of choices out there in the annuities market. This allows you to choose an annuity that is perfectly tailored to your needs. Shopping online for an annuity quote provides you with more options to choose from. Start by getting a free online annuity quote today!
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