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By Tony Bahu
© All rights reserved.
When deciding which annuity company or annuity companies to use for the purchase of your annuities there are many things to consider. The question that is inevitably asked is whether ratings are important. The answer is of course they are important but what is not so obvious is what else is important.
Because annuities are issued by insurance companies, there are often safeguards in the annuity in case the insurer stumbles upon hard times. One of these safeguards in a minimum guarantee. While some annuity companies put these in place only for their protection, other companies that offer annuities put these in and stick their clients at the minimum guarantee for the life of the contract after the first year. Because of that, one important factor is the renewal history of the company. This means simply finding the renewal rates on the annuity company's already issued annuities. This can be readily available but at times not so easy to find. However, it is one way to know how the company is in the later years of their contracts. Furthermore, it makes sense to look at how they treat their clients in the hard times, such as when the market is declining or when interest rates are down.
Another important factor can be the size of the annuity company or the insurance company backing them up. For example, a small insurance company may be owned by a larger company. While this does not provide any guarantees, it is good to know there is a large asset base behind them in case the bad times come along. Again, while it is important to choose a great annuity company, there are many factors other than ratings to be considered.
The best thing one can do is do their homework. Do not trust any one factor when looking for an annuity company but look at many facets. Find someone who is a client of theirs and ask them how their experience has been. Call the company directly and find out everything you need to know and don't be afraid to ask questions. If they care about you and your business they will spend time to answer them. If not, or if you can't even get a hold of them, maybe you should go elsewhere. Just remember, it's your money so invest it wisely.
Ignorance is not bliss...
About the author:
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Tony Bahu is a licensed annuity agent who has helped many men
and women own the annuity that is right for them and their family.
He is also the author of the controversial document,
'Annuities: The Shocking Truths Revealed', which reveals the secrets
that the banks and insurance companies don't want you to know.
For more information on his document, visit the site below right now!
http://www.AnnuityMD.com
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