Five Signs that you have a Bad Annuity
If you currently hold an Annuity that has any of these features, contact Annuity Professor today to find out how you can protect yourself.
1) Surrender Penalties at Death: Look at your policy under payout options. Isn’t the death of a loved one penalty enough?
2) MVA (Market Value Adjustment or Interest Rate Adjustment): Every 1% increase in interest rates equals a 10-12% LOSS to your contract value. (Which way do you see interest rates going in the future?)
3) Asset Fees: Some companies take 3-4% of your contract’s growth off of the top in fees even when you lose money . (Does that sound fair to you?)
4) Annuitization Value: If your statement reads Annuitization Value instead of Contract Value, then both you and your heirs will be required to accept a 3-5 year payout in order to receive full value.
5) Loss of Principle: You may unknowingly be in a variable annuity and risk loss of funds that you had intended to keep safe.
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