Annuity for 84 yr old female

[abs]

I need an annuity for an 84 yr old healthy female. The money is qualified and she needs income starting no later than one year. Can anyone suggest any company? Thanks.

 

[Stephen]

I need an annuity for an 84 yr old healthy female. The money is qualified and she needs income starting no later than one year. Can anyone suggest any company? Thanks.

Call 2 FMOs and ask them to run an illustration for you.

 

[abs]

We've checked with multiple IMOs...Just thought there may be something or some carrier we're missing. We're quoted F&G MYGA 7, Ameritus Flexmark, Mass Mut...looks like we're going with the MYGA. We don't know what we don't know.

 

[Allen Trent]

We've checked with multiple IMOs...Just thought there may be something or some carrier we're missing. We're quoted F&G MYGA 7, Ameritus Flexmark, Mass Mut...looks like we're going with the MYGA. We don't know what we don't know.

You mention the funds are qualified funds. Are the funds by chance already in a current annuity? If so, in many cases older annuities have better payout rates because the existing annuity was designed when life expectancy was shorter & guaranteed payout interest rates higher. Both of these items generally translate into a higher monthly check guaranteed in their existing annuity than new money rates with a new carrier based on newer longer life expectancy & lower interest rate assumptions.

 

[BeeSelective]

Don’t forget current year rmd

 

[jasperjohns]

Great American Landmark 5 year FIA is a great option. If you want income you can use the same companies Premier Income Bonus and have a guaranteed income for life of 6.9% of the deposit amount. Actually you multiply deposit by 8% then multiply that by 6.9 to get the payment amount. Be sure you understand the basics of how the income rider works though. The company has a great sales team so call and ask. Too bad I saw this so late I hope she was not placed in a MYGA as that may not have been ideal for her.

 

[Life Hawk]

Sounds to me like you might want to split out some of the funds and not place them in all one basket at her age... depends on the total amount of monies

Also do some work for the beni's ahead curve as much as possible...