Don't Buy WL, UL, or Annuities

[agentjhc]

I have read this a lot lately as I surf the net. Today I read a couple of diatribes on the evil of annuities. One finally recommended trowe, fidelity, and a few other "low cost" companies to buy from if you had to....so I go to Fidelity and check out the Indexed Annuities they have to offer...low and behold, they are all from Life Inurance companies! and bought through Fidelity. Same as sold by insurance agents.

What I have noticed is that it is hard to find a "fair and balanced" assessment of when WL, UL, and Annuities fit in with 401ks, IRAs, etc...I have my thoughts, but would love to find a place to read about a balanced approach.

 

[Bobrobb]

the insurance pro blog

 

[zergkiller]

I'm new here, and will accept anyone's contradiction that is correct, but annuities need to be evaluated in the field of possible investments.

There are some people who can understand the stock market and do quite well. Some people have self directed IRAs and have real estate in them. But MOST people can't do any of these things and are left with a set of possibilities, such as CDs, money funds, their checking accounts or their mattresses and so on.

People like this aren't capable of doing anything complicated, and especially at retirement, don't want the hassle. Annuities are insurance products and are guaranteed to prevent loss of capital. That's what they are for, and their rate of return is higher that the options presented.

 

[BNTRS]

the insurance pro blog

Eh they're ok...I guess




Thanks Bobrobb!