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Annuity

An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.

The Guardian Investor Individual Variable Annuity

Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity
Company Offering: 
Guardian Life
Surrender Fees: 
6%
6%
5%
4%
3%
2%
1%
0%
Variable Annuity Fields
Minimum Premium Payment: 
500
Maximum Premium Payment: 
100000
Minimum Additional Premium Payment: 
100
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
4%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$35
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
2%
Total Number of Investment Options: 
41
Maximum Number of Concurrent Investment Options: 
19
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
7%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity

The Guardian Retirement Asset Manager Variable Annuity

Glossary: 
Annuity
Asset
Variable Annuity
Key Phrases: 
Retirement
Annuity Product Types: 
Variable Annuity
Company Offering: 
Guardian Life
Surrender Fees: 
7%
6%
5%
4%
3%
2%
1%
0%
Variable Annuity Fields
Minimum Premium Payment: 
500
Maximum Premium Payment: 
2000000
Minimum Additional Premium Payment: 
100
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
4%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$35
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
2%
Ability to Select Asset Allocation: 
Yes
Total Number of Investment Options: 
43
Maximum Number of Concurrent Investment Options: 
19
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
7%
Key Phrases:
Glossary: 
Annuity
Asset
Variable Annuity
Key Phrases: 
Retirement
Annuity Product Types: 
Variable Annuity

Fidelity Freedom Lifetime Income

Annuity Product Types: 
Variable Annuity
Glossary: 
Annuity
Income
Company Offering: 
Fidelity
Web Site: 
http://personal.fidelity.com/products/annuities/content/income_freedom_lifetime.shtml.cvsr?refpr=anncompchar04
Variable Annuity Fields
Minimum Premium Payment: 
25000
Maximum Premium Payment: 
4000000
Minimum Age at Start of Contract: 
45years
Maximum Age at Start of Contract: 
85 years
Minimum Total Fees and Expenses: 
1%
Maximum Total Fees and Expenses: 
2%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$0
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
1%
Total Number of Investment Options: 
9
Maximum Number of Concurrent Investment Options: 
1
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
0%
Key Phrases:
Glossary: 
Annuity
Income
Annuity Product Types: 
Variable Annuity

EQUI-VEST Express

Glossary: 
Annuity
Annuity Product Types: 
Variable Annuity
Company Offering: 
Axa Equitable
Web Site: 
http://www.axa-equitable.com/annuities/equivest/express/annuity.jsp
Surrender Fees: 
7%
6%
5%
4%
3%
2%
1%
0%
Variable Annuity Fields
Minimum Premium Payment: 
50
Maximum Premium Payment: 
1500000
Minimum Additional Premium Payment: 
50
Maximum Age at Start of Contract: 
85 years
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
5%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$50
Minimum Investment Management Fee: 
1%
Maximum Investment Management Fee: 
4%
Total Number of Investment Options: 
77
Maximum Number of Concurrent Investment Options: 
77
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Key Phrases:
Glossary: 
Annuity
Annuity Product Types: 
Variable Annuity

Retirement Cornerstone B Series

Annuity Product Types: 
Variable Annuity
Key Phrases: 
Retirement
Retirement Cornerstone
Glossary: 
Annuity
Variable Annuity
Company Offering: 
Axa Equitable
Web Site: 
http://www.axa-equitable.com/annuities/retirement-cornerstone.jsp
Surrender Fees: 
7%
7%
6%
6%
5%
3%
1%
0%
Variable Annuity Fields
Minimum Premium Payment: 
5000
Maximum Premium Payment: 
1500000
Minimum Additional Premium Payment: 
500
Maximum Age at Start of Contract: 
85 years
Minimum Total Fees and Expenses: 
1%
Maximum Total Fees and Expenses: 
3%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$30
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
2%
Total Number of Investment Options: 
109
Maximum Number of Concurrent Investment Options: 
109
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Waiver of Withdrawal Charges: 
Available
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
9%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Key Phrases: 
Retirement
Retirement Cornerstone
Annuity Product Types: 
Variable Annuity

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