Isn’t it about time the process of purchasing an annuity seemed more contemporary? You can purchase mortgages, vehicle insurance, and various life insurance products online. So why not use income and fixed annuities as well? The truth is that internet shopping is now a reality, but most sites that claim to offer it fail to deliver. Online annuity quotes provide several apparent advantages, including lower price, greater transparency, greater flexibility, and the ability to avoid being pressured into a sale. This is not to say that online annuity purchases are always flawless. It’s a bit of a hassle, to be honest.
The Reality
A simple Google search will likely yield several websites that promise to provide you annuity rates online if you complete a few forms. The truth? Most people don’t follow through on what they say they’ll do. They indeed do this.
Lead Generation
An insurance agent (or occasionally more than one) may call you and try to persuade you to buy a product if you offer your phone number to a particular sort of website. They’ll typically try to pressure you when you tell them you’re not interested. When you’re leading the charge, you’re referred to as a “lead generator.” Not in your best interest to become involved.
No Option Emails
Alternatively, you might find websites that gather your data and then claim to send you price quotations by email. These websites don’t allow you to adjust buy amounts, deferral periods, or other riders to see how it impacts your payments, even if they fulfill their promise. Because of this, even simple information you might acquire via an internet platform would likely require many phone calls and email exchanges. Hence, it’s impossible to know if the site is displaying all it has.
The Remedy
Please ensure that the business you’re dealing with will follow through on its promises before submitting your information. Is this an excellent method to learn? Get a live person to answer questions via phone like, “Will I be able to view real-time quotations on the internet if I input my information?” “Will you share my personal information with anybody else?” There may be something wrong with the responses you receive, and it’s best to move on.
The Seven Rules
To determine if an income annuity, such as a single premium instant annuity (SPIA), deferred income annuity (DIA), or qualified longevity annuity contract (QLAC), is right for you, here are seven rules:
- Before submitting any personal information, call the firm. Obtaining a representative capable of responding to the previous inquiries is a must.
- Choose someone with the qualifications to provide sound advice on whether or not you should buy anything. Credentials such as the CFA, CFP, or RICP are worth searching for in an investment professional. To determine whether an income annuity is appropriate for your current financial circumstances, you should consult with a financial advisor. You’re probably merely talking to a salesperson if you don’t have these credentials.
- Make sure you know what you’re getting before you buy it. Always go with your gut feeling if anything appears out of the ordinary or too remarkable to be true. I think you’re right.
- If you’re looking for a company with a good grasp of the latest technology, go elsewhere. It’s better to access personalized information from your online annuity provider. When an insurance company doesn’t allow you to run your quotations or show you how much certain features cost in real-time, you might as well be dealing with a traditional insurance agent.
- The number of carriers you’re viewing and their credit scores should be considered. Getting a competitive quote necessitates a balance between quantity and quality. Compare prices from at least four different service suppliers. And it’s nearly never a good idea to acquire an annuity from a company with an A.M. Best rating. A is the best credit rating below A++ or A+.
- A website that claims to sell anything and everything is a wrong choice. When looking for an income annuity, you want to work with an expert. It’s essential to ensure you’re working with someone knowledgeable about the items.
- Request a list of people who can serve as references. It’s usually a good idea to get advice from someone who has already gone through the same situation. You can request a meeting with one of the company’s clients by contacting them.
Contact Information:
Email: [email protected]
Phone: 8777993433
Bio:
After spending many years studying information technology, specializing in web development, digital marketing, and search engine optimization (SEO), I enjoy applying my skills and experience in helping others achieve their goals online.As a marketing specialist at Credkeeper, I help people get the most out of their online reputation. Your prospects perform Internet searches for your name before they buy from you. What they see on the first page of Google outweighs almost all other marketing! What do people currently see when they search your name on the Internet?If you would like to know more about Credkeeper and what we can do for you, feel free to reach out to me!
