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I notced that American Equity has come out with a fixed 5 yr annuity with a 4.9% return guaranteed. This is a traditional old-time type of annuity, not an EIA with 10% penalty free withdrawal and all of that. Free withdrawal is limited to interest only for that year. I think you are locked in on the principle but I dont know, maybe there are surrender charges.
Anyway. Is anyone having experience, success or whatever in working with this type of short, ultra-simple, no frills type of product. Obviously it appeals to the folks who want to stay a point or two ahead of CD's down at their local bank or who want to roll out of something more volatile but not all the way back to a CD or savings account.
Experiences or thoughts here anyone?
Winter
Anyway. Is anyone having experience, success or whatever in working with this type of short, ultra-simple, no frills type of product. Obviously it appeals to the folks who want to stay a point or two ahead of CD's down at their local bank or who want to roll out of something more volatile but not all the way back to a CD or savings account.
Experiences or thoughts here anyone?
Winter