Greg S
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Yes, if the guarntee is what you are buying the annuity for. What do you care what the fee is, if they guarntee the rate on original principle and a highwatermark feature which can guarntee your funds on the highest anniversary value...it doesnt matter what they charge you. Any GOOD mutual fund for comparison is gonna cost you 1.5% a year, do you think they'll guarntee your return, this is portfolio insurance that you are paying for, and peace of mind, for double the price of a GOOD mutual fund(Not a great one, they can cost more), Id say that its worth your time...
THIS MUST BE YOUR GOAL THOUGH, otherwise, if it is simple growth on your money, an annuity is probably not the best fit for you! At least paying for a guarntee on your growth in a variable annuity isn't.
I am in the business of selling these products, and I am the first to tell you that they are not for everyone or every situation, you should consider who is trying to sell this to you. Is this person from an insurance company, if this person is, chances are they are forced to sell as much of these things as possible to meet thier yearly quota, if this person is independent, they are sellingthis to you for the commission alone, steer clear, they dont have your best interest in mind.
An annuity purchase must be for the right reasons, or its a mistake, these reasons are, tax deffered growth, avoiding probate for your heirs, guanteed growth and income for life...any other reason you wish to invest for, find something else...
Now ask your advisor to answer your questions as honestly as possible, and see if they sound anything like ive told you here tonight...
take care |
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