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  #1  
Old 08-26-2021, 12:31 PM
Gigi3000 Gigi3000 is offline
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I keep running into road blocks with getting annunity information directly from the insurance company. They keep referring me to an agent but I all ready have a CFP. I'm checking into a Single Premium Immediate Annunity and a MYGA. Has anyone found an insurance company you can buy these from directly?
  #2  
Old 08-26-2021, 12:40 PM
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dewilson58 dewilson58 is offline
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  #3  
Old 08-26-2021, 12:45 PM
retiredguy123 retiredguy123 is online now
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I don't think you will be able to buy an annuity directly from an insurance company. I hate annuities and would never buy one. But, if I had to buy an annuity, I would buy it from Vanguard Investments. A second choice would be Fidelity Investments. I think both companies sell annuities. Good luck.
  #4  
Old 08-26-2021, 12:49 PM
NeilV1 NeilV1 is offline
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Annuities Through Fidelity | Compare Available Products | Fidelity
  #5  
Old 08-26-2021, 03:07 PM
Babubhat Babubhat is offline
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Vanguard or Fidelity. Keep costs low
  #6  
Old 08-26-2021, 05:02 PM
Eg_cruz Eg_cruz is offline
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Quote:
Originally Posted by Gigi3000 View Post
I keep running into road blocks with getting annunity information directly from the insurance company. They keep referring me to an agent but I all ready have a CFP. I'm checking into a Single Premium Immediate Annunity and a MYGA. Has anyone found an insurance company you can buy these from directly?
Not sure I would get a immediate annuity…….they just don’t pay. You can not pay an annuity without an agent.
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  #7  
Old 08-26-2021, 05:42 PM
Stu from NYC Stu from NYC is online now
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And typically the salesman gets a rather sizable commission.
  #8  
Old 08-26-2021, 07:35 PM
Blueblaze Blueblaze is offline
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The first problem with annuities is that you have to buy them from a salesman.

The worst problem with annuities is that when you do the math, you realize you're tying up your money for 10 years to get the same return you could get from a 3-year federally-insured CD. Don't be fooled by the fake "equivalent return" numbers they quote. The number to look at is the internal rate of return. It never even matches the inflation rate.

It's always been a mystery to me that no 100-year-old insurance company has the confidence in their investment team to write a contract that simply guarantees a reasonable fraction of historic stock market returns. They would clean up on the spread, and put the stock brokers out of business! Think of it -- they have the longevity to survive dips in the market (unlike us mere humans), they have the knowledge and experience to successfully play the market -- and they even get to keep what's left in your "account" when you die! So why aren't they willing to write a non-crooked contract that does something beyond just dribbling your own money back to you until you kick the bucket?

I guess the answer is they don't have to. There is an endless supply of marks who won't or can't do the math.

I would LOVE to buy an annuity and quit worrying about how to invest my money. So far, I've never found one that wasn't a scam.
  #9  
Old 08-26-2021, 08:35 PM
Carla B Carla B is online now
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Thank You, Blueblaze, I think you uncovered the secret behind annuities.
  #10  
Old 08-26-2021, 08:52 PM
Stu from NYC Stu from NYC is online now
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Quote:
Originally Posted by Carla B View Post
Thank You, Blueblaze, I think you uncovered the secret behind annuities.
As the old saying goes, Annuities are never purchased they are sold.
  #11  
Old 08-26-2021, 08:57 PM
Gigi3000 Gigi3000 is offline
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Yeah, I just came back to say that I don't see the benefit either, unless maybe if I live to 100. If I buy a $100000 immediate annunity, I'd get around $450 a month and if it pays me for 18 years, I'd just break even..sounds ludacris and I would prolly kick off in 3 years, my luck. Then I'd be reeeeaaaallly upset!!!!
  #12  
Old 08-26-2021, 09:04 PM
kkingston57 kkingston57 is offline
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Have annuities(variable) and get 5% guaranteed and rarely get more than 5%(last year was a good exception) Can not get this rate now. Watch out for the costs. They are more than most of the costs on mutual funds. Costly but safe investment.

Do not know they can be bought direct.
  #13  
Old 08-27-2021, 04:48 AM
richrjones richrjones is offline
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Default annuities

Quote:
Originally Posted by Gigi3000 View Post
I keep running into road blocks with getting annunity information directly from the insurance company. They keep referring me to an agent but I all ready have a CFP. I'm checking into a Single Premium Immediate Annunity and a MYGA. Has anyone found an insurance company you can buy these from directly?
Call a local agent for State Farm. They can help you.
  #14  
Old 08-27-2021, 05:30 AM
joeharing joeharing is offline
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Buy stock in Dominion or Duke Energy and be done with all the hassles. Your heirs will thank you.
  #15  
Old 08-27-2021, 05:33 AM
rlcooper70 rlcooper70 is offline
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Huge commissions with fixed annuity. If you want to use the variable annuity as a means to invest in mutual funds, call Fidelity they will lead you through the way to purchase.
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