Best annuity payout 5 years
- Thread starter bill3173
- Start date
- 10,626
$1,660 from a DIA
I'm sure you figured it out, but a 5 year deferral for a 65yo on single income is going to land with American Equity and #1 and Corebridge #2 (guaranteed, no stacking/interest credits necessary).
- Thread starter
- #14
What about F&G Safe Income Advantage? $1960/mo NC, btw
- 6,881
(Caveat, NOT an agent.)
As an aside:
Because of negative comments I have received from very experienced forum members about F&G, Am Eq, and Nationwide, if that was my money, I think I would be asking about splitting the amount between Athene and Corebridge products.
As an aside:
Because of negative comments I have received from very experienced forum members about F&G, Am Eq, and Nationwide, if that was my money, I think I would be asking about splitting the amount between Athene and Corebridge products.
What negative comments? Just curious.
That works too. I just ran it through my quickcalc.
- 6,881
- 6,881
For people just popping in and out reading this thread:
Caveat, I am not an agent. Newby knows this, but some readers may not.
Again, thank you for pointing that out. This is a point I learned to look for when looking at brochures from carriers like NAC, Athene, American Equity, American National, and Nationwide. I don't remember who did what any more, but I did consider that at the time.
I don't think that point is nearly as important to me as it is to you, because of both life circumstances and financial resources.
Sometime back, in a thread where you were trying to give someone some useful advice, you mentioned 1 annuity that amounts to more than my entire financial resources for a 30-35 year end of life scenario. You can make multiple purchases and spread risk. I am quite frightened over this because I have one amount and one chance to make a wise decision. I screw it up and my family will suffer for the next 40 years as a result.
As far as joint life is concerned, If I write down two goals - transfer of wealth and lifetime income - and describe my situation to an agent, I can't imagine any experienced and responsible agent -- if they could even be maneuvered into offering an opinion -- saying anything other than joint life payouts are the best option for me.
There are two other obscure little points that have emerged for me in evaluating annuities, I am going to put each of them in a separate post below.
Caveat, I am not an agent. Newby knows this, but some readers may not.
Again, thank you for pointing that out. This is a point I learned to look for when looking at brochures from carriers like NAC, Athene, American Equity, American National, and Nationwide. I don't remember who did what any more, but I did consider that at the time.
I don't think that point is nearly as important to me as it is to you, because of both life circumstances and financial resources.
Sometime back, in a thread where you were trying to give someone some useful advice, you mentioned 1 annuity that amounts to more than my entire financial resources for a 30-35 year end of life scenario. You can make multiple purchases and spread risk. I am quite frightened over this because I have one amount and one chance to make a wise decision. I screw it up and my family will suffer for the next 40 years as a result.
As far as joint life is concerned, If I write down two goals - transfer of wealth and lifetime income - and describe my situation to an agent, I can't imagine any experienced and responsible agent -- if they could even be maneuvered into offering an opinion -- saying anything other than joint life payouts are the best option for me.
There are two other obscure little points that have emerged for me in evaluating annuities, I am going to put each of them in a separate post below.
- 6,881
Caveat, not an agent.
The first one is doubled LPA's for health events. NAC, Athene, and Am Eq all talk those up.
You meet certain criteria and get confined, you can get double LPA's for up to five years. I get all excited and figure-so if one of us has a health issue that puts us in confinement treatment, we can get some double payments.
Not so fast buster, lots of restrictions.
First, that's a max of 5 years per policy, not 5 years per annuitant.
You can not be confined at time of contract purchase.
Most carriers offering this enforce a waiting period of either 1 or 2 years of contract ownership before a double LPA can be collected.
And NOW, the little secret not mentioned in the same paragraph that tells you how wonderful this rider contract feature is: You may not have the double LPA feature after the accumulation value goes to zero. When I uncovered that little secret, I simply had to start over comparing annuities, we would never, ever, in a normal course of events get to use that option.
An illustration I just referred back to shows the accumulation value going to zero in 5 years using guaranteed numbers, going to zero in 9 years using backtested estimates for my index choices. Basically, when technical factors are considered, there is no possibility of a doubled LPA using the guaranteed numbers and maybe only 2-3 years in the backtested numbers where a doubled LPA might be possible.
The first one is doubled LPA's for health events. NAC, Athene, and Am Eq all talk those up.
You meet certain criteria and get confined, you can get double LPA's for up to five years. I get all excited and figure-so if one of us has a health issue that puts us in confinement treatment, we can get some double payments.
Not so fast buster, lots of restrictions.
First, that's a max of 5 years per policy, not 5 years per annuitant.
You can not be confined at time of contract purchase.
Most carriers offering this enforce a waiting period of either 1 or 2 years of contract ownership before a double LPA can be collected.
And NOW, the little secret not mentioned in the same paragraph that tells you how wonderful this rider contract feature is: You may not have the double LPA feature after the accumulation value goes to zero. When I uncovered that little secret, I simply had to start over comparing annuities, we would never, ever, in a normal course of events get to use that option.
An illustration I just referred back to shows the accumulation value going to zero in 5 years using guaranteed numbers, going to zero in 9 years using backtested estimates for my index choices. Basically, when technical factors are considered, there is no possibility of a doubled LPA using the guaranteed numbers and maybe only 2-3 years in the backtested numbers where a doubled LPA might be possible.
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