- 944
Anyone know of a very liquid annuity? Very little charges for taking money out?
Liquid Annuity
- Thread starter theinuranceguy
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- annuity
- 11,280
Sounds like an oxymoron. Why do you need liquidity? What situation do you have? Might want to try a really short term.
- 924
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.
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.
Every annuity I own, I'm able to take out 10% of my money without any penalty. I call that Liquidty!
- 16,877
Forethought has always had a 3-year annuity. 10% per year can be taken out of most annuities with no fees.
BasicBill
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- 944
Thanks for the input guys... very helpful...
