Thursday 08/07/2008

Learning Center > Annuity Guide > Part 6 - How do I buy an Annuity?

Ok I’m Convinced, How Do I buy an Annuity?

Investing in Annuities is a choice and needs to be done after proper planning. Take a thorough look at your financial requirements and select options that will serve your needs in the best possible way. The most important thing to remember while investing in annuities is to get full and complete information about the annuity policy. Ask questions; understand the practicalities and options available before selecting an annuity and investing in them.

In order to buy/invest in an Annuity, you need to contact an Insurance Agent or a Financial Planner.

Agents: work for a single Insurance Company or may represent many and generally specialize in handling and selling annuities.

Make sure that the Company from whom you purchase the Annuity is:

• Reputable insurance company
• Financially strong
• Licensed agent in your own state and have a proper license
• Check the companies that they represent

While selecting an Agent to take care of your Annuity Investments, make sure that the agent is:

• Knowledgeable – has complete and in-depth information about the annuities that he or she is selling.
• Experienced – has an experience in this field of selling and handling annuities.
• The Insurance Agent should not only be knowledgeable and well informed, he should also devote enough time in explaining to you the details of the annuity policy. Your questions should be answered and doubts removed.

You can contact your friends and acquaintances and ask them to recommend a good agent. You can also use our free annuity quote request form to get competitive quotes from multiple representatives. Either way, do your homework about the product and company you decide to do business with.

Banks: Annuities developed by Insurance Companies may be sold through Banks. Make sure to check the policy details and the license. The Company should be financially strong and reputable. Understand the policy well and only then purchase an Annuity.