Annuity

The full menu or “laundry list” of annuity products and features builds off of the basic list discussed in the previous chapter.

Where relevant, each description below will include a brief comment on how the entry relates to the basic list of annuity types.

The following is a list that links to each of the annuity types discussed in this chapter:

The tough thing about classifying annuities is that the three common features described in the previous chapter can be mixed and matched to create a bewildering array of options.

For the purpose of simplicity, the following is a list of annuity types at the highest, most basic level.  The next chapter provides a full list that includes all of the different permutations.

Dealing with Complexity

Understanding the vast number of different annuity product types and features can be mind numbingly complex for both consumers and financial advisors.

Some of the insurance companies selling life insurance and annuities have been around for a long, long time.  They have weathered many storms—including of the most recent financial turbulence.

Product Availability

Just because an insurance company offers a particular type of product does not mean that it is available in your state of residence.

There are a few things that need to be in place in order for you to purchase an annuity from an insurance company.