Originally Posted by Packer Fan (Post 1995664)

I got it before. I would never invest without the contract. Lincoln investments was the company. It’s a boilerplate contract. I would run from anyone who would not provide it. There is a trust issue there.

Originally Posted by Aces4 (Post 1995719)

Thank you for that succinct explanation. The difference between the federal government and the state insuring money is that one can print the money to cover the losses. History has proven that to be true.

Originally Posted by golden (Post 1995815)

Dear Aces4-

You are correct that the Feds can print money and the states cannot.

As I mentioned, in the event of a total financial collapse. since insurance companies invest in stocks, bonds, and real estate, none of those assets are likely to go to zero and those holding annuities will receive some money back.

In the case of FDIC with multiple banks going under, the Feds can "bail out" depositors by printing worthless currency. It has been suggested, however, that the more likely scenario is a "buy in" whereby depositors are given stock in the bank that went under.

Originally Posted by manaboutown (Post 1995734)

I wonder if the Edward Jones brokers who own the house that sold for $1.041M in 2006 on Russell Loop and are having it torn down to build a two story mansion on the lake view site sell many annuities to their customers?

Originally Posted by Marlene36 (Post 1995257)

We HIGHLY RECOMMEND - Liz at TB Financial in Fruitland Park. EXCELLENT SERVICE AND TOP EXPERT in ALL ANNUITY PRODUCTS. We purchased our single premium annuities with her several years ago and are extremely pleased.
Call them for an appointment: (352) 350-1161 She also runs regular ANNUITY 101 SEMINARS on general info on the variety of annuities out there for you to pick from.

Originally Posted by retiredguy123 (Post 1995090)

Annuity salespeople will promise rates and will make all kinds of claims about what the annuity will do for you. But, ask them to provide a copy of the entire annuity contract so you can read the actual contract that you will sign. I have tried many times to get a copy of an annuity contract and they have always refused to provide it and have sometimes gotten nasty about it.

Also, sometimes the promised annuity rate of 6 or 7 percent does not mean that is the rate of return on your investment. It often means that they will pay you that rate, but some of the money will come from the principal that you invested. Of course, if they won't let you read the contract, you don't know how it is calculated.

Originally Posted by Gigi3000 (Post 2002411)

The bank agent said I couldn't have a copy of the contract before signing but I do have a right of rescission of at least 10 days after signing. However still taking it lump sum.

Originally Posted by Stu from NYC (Post 2002445)

Why in the world would anyone in their right mind go ahead with a contract they are not allowed to read before execution?