Home / Annuity Basics – Getting Started

If you’re new to annuities and interested in learning more, there are two primary routes you can go; speaking with and expert or self-directed learning.

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Self-directed Learning

Utilize the resources on AnnuityFYI.com, learning at your own pace. Below, you will find links to information and videos to quickly bring you up to speed on annuities. Read on to determine if an annuity is right for you, and if so, what type of annuity might be the best fit. Self-assessments, check lists and warnings represent some additional content those new to annuities find especially helpful. Click the headings below for more information. At any time, feel free to reach out to the experts at Annuity FYI should you have questions.

What is an annuity?

An annuity is a contract between you (the annuity owner) and an insurance company. In return for your payment, the insurance company agrees to provide either a regular stream of income, the right to withdraw up to a certain percentage per year, or even a lump sum payment at some future time (generally, once you retire or pass age 59 1/2).

Is an annuity suitable for me?

For some, annuities can complement a total retirement income strategy to supplement other sources of money during retirement. Annuities have advantages such as allowing you to pay in unlimited premiums and they grow compound tax-deferred. (Upon withdrawals,** you will pay taxes on interest earned and the principal if the annuity was purchased with pre-tax dollars.) However, annuities are not for everyone.

What are the different types of annuities?

There are different types of annuities to meet the specific needs of individual retirees and pre-retirees. Annuity FYI can help simplify the selection process.

The Annuity Qualifier

Help me determine which may be the best annuity for my financial situation.

Retirement Self Assessment

What type of retiree or pre-retiree are you? Take this self-assessment consisting of ten statements designed to help you decide what may be the best use of your retirement dollars.

Annuity Checklist

You want to be well-informed to put your money to work in the best way for your situation. Annuity FYI suggests that, prior to making a purchase decision about an annuity, you consider some ideas about the product, the insurance company behind it, and the licensed professional selling it.

Annuity Warnings

Annuity FYI regularly publishes warnings about potential pitfalls in purchasing an annuity. Read this before you purchase!

Annuities: Find The Right One For You

What type of annuity might best suit your situation? This guide explains the main types of annuities and identifies what to look for in each.

 

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ANNUITY BASICS

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For many, the thought of retirement is both jubilant and worrisome. While the idea of spending time away from the …

Great American Life and Barnabas Capital Team to Offer New Annuity Products

Great American Life has teamed up with Barnabas Capital to offer 2 new variable annuity products. Index Frontier® and Index …

Leading Annuity Provider Updates Products

According to a recent press release, leading financial services company, AXA Equitable Life has just released an enhanced version of …

Jackson National Launches New MYGA

Wink’s Sales and Market Report for the first quarter of 2019 shows that the sales of multi-year guaranteed annuities (MYGAs) …

1st Quarter Annuity Sales Released

First quarter 2019 annuity sales figures were recently released with fixed and variable annuity sales hitting $57.8 billion combined. According …

SEC’s New Best Interest Standard Met With Mixed Reviews

Earlier this week, the U.S. Securities and Exchange Commission approved the SEC’s Regulation Best Interest: The Broker-Dealer Standard of Conduct …

ARTICLES & GUIDES

Great American Life and Barnabas Capital Team to Offer New Annuity Products

Great American Life has teamed up with Barnabas Capital to offer 2 new variable annuity products.

Leading Annuity Provider Updates Products

According to a recent press release, leading financial services company, AXA Equitable Life has

Jackson National Launches New MYGA

Wink’s Sales and Market Report for the first quarter of 2019 shows that the sales of multi-year

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