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Don't Die with IRA or Annuity
Why You Should Never Annuitize A Deferred Annuity |
| If you are at the point where you want to start taking money out of your annuity in the form of an income stream I would like to show you a way to receive a higher monthly income.
The secret is that insurance companies know that people do not shop around when they annuitize their contracts. Most people simply fill out the required paperwork electing their pay out option and take what their company pays them.
Insurance companies have special contracts known as immediate annuities (SPIA), which use factors that are much more competitive. This means more monthly income dollars in your pocket!
NOTE: if your health is suspect due to negative medical history such as Cancer, Diabetes, or Heart Disease an immediate annuity can pay you a monthly income substantially higher than normal annuities! Please call me to discuss your particular situation.
Recently, I had a client who was offered a 10-year pay out (120-months) of $735 per month. By allowing me to shop this case and ultimately transfer the money into an immediate annuity we were able to lock in a payment of $845 per month. This is an increase of 15%, or $13,200 additional dollars in pocket over the life of the contract!
Here is what I suggest you do:
- Call your annuity company, and ask for your current balance as well as what the monthly income would be for the pay out term of your choice. (Ask what terms are available if you do not know) If you need assistance in understanding which option may be best for you, please feel free to call me.
- Call me with the information, and I will provide you free of charge with a spreadsheet of quotes from the industries top-rated companies.
Please feel free to call me anytime about an immediate annuity.
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