What is an annuity and how do I buy one?
An annuity is a contract that you purchase from an insurance or annuity company. In terms of how to buy an annuity, it’s possible to start the process online with a free quote. But it’s important to do some careful research and planning beforehand to ensure that an annuity is right for you and that you understand the potential risks involved.
How do I find the right annuity for me?
The Annuity Expert can help narrow your search. Find a highly rated ( A- or Better ), reputable insurance company that offers an annuity that’s right for you at a competitive rate. Request and fill out an application. Then, submit it to the insurance company.
How does an annuity work?
An annuity works by transferring risk from the owner, called the annuitant, to the insurance company. Like other types of insurance, you pay the annuity company premiums to bear this risk. Premiums can be a single lump sum or a series of payments, depending on the type of annuity. The premium-paying period is known as the accumulation phase.