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The Annuities Rate Can Change, So Move Quickly


You’ve decided to buy a fixed annuity, you have found a great rate and you are ready to buy. Or are you? After all, you’ll be using a large chunk of money to buy something that requires a multi-year commitment. Of course, you don’t want to suffer buyer’s remorse. The old cliché rings true here – strike while the iron is hot. The annuities rate can change, so if you see a great interest rate offering, you should move quickly to lock it in.

Much like bank CDs and savings accounts, an annuities rate can be adjusted up or down due to many circumstances. The U.S.’s economic climate, the insurance company’s financial health and a limited time offer that is expiring are all reasons that an annuity interest rate might fall. Unfortunately, the only way to guarantee an annuities rate is to purchase that annuity and lock in that rate before it changes.

Still unsure whether or not an annuity is right for you? The first step is to figure out why you are interested in buying an annuity in the first place. Is it for safety in a volatile market? Is it the attractive guaranteed interest rates? Is it the tax advantages? Is it that you want another way to save for retirement? Whatever your reasons, clarifying your motivation for wanting an annuity makes it easier to buy the product and lock in a favorable annuities rate.

After you decide why you want to buy, you need to figure out what money you’re going to use to buy the annuity. A lump sum from a savings account or a maturing bank CD is perfect, but those are not your only options for funding an annuity. Cash in an IRA, a 401(k) or a 403(b) can be rolled over into an annuity. Why would you do this? One of the best reasons may be to protect your assets from potential market downturns. If you lock in a favorable fixed annuities rate, you no longer have to keep an eye on the market – your annuities rate is stable and guaranteed.

Ready to lock in a strong annuities rate? Contact the Annuity Specialists at AnnuityForLife.com at 1-888-261-6237 to learn about the best annuities rates available.