Selecting the best annuities in the annuity marketplace can be a challenge. Often times, consumers are only presented with one option from an advisor who has limited choices. The main point in buying an annuity is that you are insuring your money against financial turmoil so minor differences between products is irrelevant. In this section, I’ll outline the products or companies I consider the most competitive in each product class and my reasons for doing so. The results of my analysis is subject to state availability and are open to change without notice. For current recommendations or other further information on any of these products, be sure to contact us now.
Best Fixed Annuity
American Equity Five Year 3.15%
Everyone knows interest rates a currently very low. My feeling is that it makes little sense to tie your money up for too long at low rates. Rates seem to drop too much with a shorter time period and there are few cases where a longer surrender schedule offers high enough rates to warrant the longer time horizon.
North American Ten Year 4.00%
In some cases this product is appropriate. Certain risk averse people simply want safe money. Where the individual-specific time horizon justifies a longer time period, this carries a reasonable growth rate from a very stable financial institution.
Best Fixed Index Annuity
American Equity Retirement Gold
9% bonus and 8% annual growth on income benefit value make this the most competitive guaranteed income product in most planning scenarios. This contract also has good underlying growth potential in the index account value which is important so you’ll have more flexibility in the future.
Best Variable Annuity
Guardian Investor Series
Offers 7% guaranteed compound growth on the guaranteed lifetime withdrawal benefit and payout rates that mirror industry-wide income payments. Because of the risk companies hold with guaranteed variable annuities, safety and company financial strength is of paramount importance when considering a variable annuity. Guardian is the strongest financial institution currently offering guaranteed income variable annuities. Guaranteed income payouts are very competitive in this niche so you’ll likely give up very little, if anything, while gaining from the additional safety Guardian provides.
Best Immediate Annuity
Every individual financial situation will turn out a different result for the highest paying immediate annuity. It’s simple, you want the highest payment from the strongest financial institution. Please call or email for more information or a specific quote. Please refer to this page often for updated information on the best annuities.