Best Annuity in this Scenario?

[DavidKemp]

Which company would have the best annuity for this situation. A 63yo woman has $75K in a 401k to rollover into an annuity and wants at least $300/m in income stream and last through her husband's lifetime should she die first.

 

[Tahoe Ray]

Which company would have the best annuity for this situation. A 63yo woman has $75K in a 401k to rollover into an annuity and wants as least $300/m in income stream and last through her husband's lifetime should she die first.

How old is the husband and what state?

 

[DavidKemp]

Tennessee. The husband is 68.

 

[Tahoe Ray]

Tennessee. The husband is 68.

Are they open to a SPIA? They could get a joint payout w/ cash refund for well over $300 from a number of different companies. Equitrust is close to $350.

An FIA will be tough...they could come close with American General since they use average age for joint payouts but it will still be short....

 

[golfnut]

The TVA from Security Benefit will give them $330 per month on a joint payout. This could be attractive to them since they don't give up access to all the funds, like they do on a SPIA, assuming they are OK with a slightly lower payout. You may not have access to this product?

 

[Tahoe Ray]

The TVA from Security Benefit will give them $330 per month on a joint payout. This could be attractive to them since they don't give up access to all the funds, like they do on a SPIA, assuming they are OK with a slightly lower payout. You may not have access to this product?

If you can get 5.3% (or some other % w/ a bonus) on 75k with a joint life payout for a 63yo I would take it....

 

[DavidKemp]

I'd say they would be open to any kind of annuity, other than variable. I'll have to look into the one with Equitrust. I also remember that Phoenix had some great annuities for income.

 

[golfnut]

The TVA will have the best income, they offer a 10% bonus and the payout percentage is 4.8%. I will be glad to write it for you, but of course I am expensive in my old age.