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premium bonus on an annuity

by Rich
(Hartford, CT, USA)

What are some of the tricks or things insurance companies do to recoup that 10% premium bonus they offer to offset your surrender charge when you switch to their annuity?

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premium bonus on an annuity

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starstarstarstarstar 		fixed annuities
by: Anonymous

I have a financial advisor who has moved me from fixed annuity to fixed annuity...in the last several years I have been moved in and out of eight different annuities, now he says regarding the annuity i'm in 'with monthly averaging i'll be underwater' (i'm really not sure what that means). Should I just stay put or switch again. this new annuity is giving me a bonus to offset my surrender charges....
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starstarstarstar 		Bonus Annuities
by: Anonymous

Bonus annuities can be a great tool to use when moving your money from another product that has a surrender charge and you are trying to make up the difference or if you have lost some money and are trying to make some of your losses back by buying a bonus annuity.

However, big bonus annuities will have lower min. guarantees, lower index caps, higher surrender charges, and longer surrender periods.

A lot of broker dealers like the 10 10 Rule.

1. Surrender charges can not be any higher than 10%.
2. They do not like annuities that are longer than 10 years or that offer a 10% premium bonus.
e
I hope my brief explanation has helped. Feel free to contact me on my contact page and I will be happy to answer any questions you may have.

Robert

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