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.

Ask an Expert

Speak with an expert who will learn more about your unique situation and can explain types of products that will best fit your needs and help you reach your retirement goals.
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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.

 

This web page has been reviewed for compliance. Document reference: #1500261-2

ANNUITY BASICS

Study: Consumers Confused on Annuity Income Options

A new study, conducted by Jackson National Life Insurance Company and the Insured Retirement Institute (IRI), has found that while …

Retirement Planning: Thinking Outside the Box

Do you find yourself buying the same make of car as your dad always did? Do you prefer a certain …

Working With RMDs

Many of us spend the majority of our working lives stashing money aside in a variety of retirement funds, just …

Fee-Based vs. Commissionable Annuities

With the new DOL fiduciary rule in place, more and more insurance firms are launching fee-based annuities to help distributors …

Taxes and Your Inherited Annuity

One of the perks of purchasing an annuity is the ability to pass it down to heirs when the time …

Security Benefit Expands Variable Annuity Offerings

One of the leaders in the U.S. retirement savings market, Security Benefit, has just announced the expansion of the underlying …

ARTICLES & GUIDES

Study: Consumers Confused on Annuity Income Options

A new study, conducted by Jackson National Life Insurance Company and the Insured Retirement

Retirement Planning: Thinking Outside the Box

Do you find yourself buying the same make of car as your dad always did? Do you prefer a certain

Working With RMDs

Many of us spend the majority of our working lives stashing money aside in a variety of retirement

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