Liquid Annuity

Apr 8, 2008

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  1. theinuranceguy
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    theinuranceguy Guru

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    Anyone know of a very liquid annuity? Very little charges for taking money out?
     
  2. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Sounds like an oxymoron. Why do you need liquidity? What situation do you have? Might want to try a really short term.
     
  3. Charpress
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    Forethought, I think, has a new annuity product with no penalties. How do they do it? Easy. There's a 2 year commission chargeback period. It is becoming available in my state in a week or so. It may already be available elsewhere.

    For people who insist on no penalties, I will suggest this. For obvious reasons, it is never going to be at the top of my annuity suggestion list.

    You can also suggest annuities that basically have a bonus that is equivalent to the penalty in the third or so year. Can't think of the product offhand, but it has a 5% bonus with 7%, 6% and 5% annual penalties. In the third year the penalty equals the bonus. The person gives up the bonus, but it is basically a 3-year walk-away product.
     
  4. Mr. Bill
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    Check with Midland National, I think they have "early cash" products.
     
  5. bobson
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    Every annuity I own, I'm able to take out 10% of my money without any penalty. I call that Liquidty!
     
    bobson, Apr 14, 2008
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  6. Newby
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    Forethought has always had a 3-year annuity. 10% per year can be taken out of most annuities with no fees.
     
    Newby, Apr 14, 2008
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  7. BasicBill
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  8. mmb98
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    NYL has a VA with no surrender charges.
     
    mmb98, Apr 14, 2008
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  9. Mr. Bill
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    Most of the time a VA without surrender charges is simliar to a C-share concept, they just charge higher annual fees to the client. In a flat or down market, you'll have lots of 'splaining to do, ricky.
     
    Mr. Bill, Apr 14, 2008
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  10. theinuranceguy
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    theinuranceguy Guru

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    Thanks for the input guys... very helpful...
     
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