Asked by Sarah  |  Submitted June 19, 2018

I need help with a flexible premium deferred annuity.

I have multiple questions regarding this.

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  Answers  |  1

July 31, 2018

Generally you will find Single Premium and Flexible Premium options on a variety of annuities. The difference is that with a flexible premium the insurance company will allow you to continue to add additional funds for a period of time.
You also want to find out what type of annuity is right for you and if an annuity is the right vehicle for you in the first place. Deferred annuities come in several flavors; Fixed, Fixed Indexed and Variable.
Each come with their own pro's and con's and without knowing your specific situation or questions it becomes a lengthy explanation to cover all the basics.
As with all investment or insurance products one size does not fit all. Make sure you get all the facts, ask questions and compare with competitive options. Deferred annuities can offer some very attractive benefits but do watch out for exaggerated claims sometimes made by sales people (not the insurance company).
Feel free to reach out with more specific questions. It is important you chose the right product to meet your individual needs, before you commit to a long term investment.

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