The 1035 Exchange Question?

[scagnt83]

Which managed index were you referring to?

Phoenix Life has a new one, I think ssga manages it using some type of underlying algorithm and it uses ETFs if I remember correctly. Its hard to get comfy with their financial ratings though.

 

[jmhalvo]

Yes you can combine the two. There are fixed Index annuities out there with uncapped indexes which means you can get up to exactly what your index chosen earns. If you are looking for income, a particular one offers a 4% guarantee roll up each year On the income dollars and it's not a give or take. Means that if the index gets 10, you get the 10 plus the 4. If the index doesn't gain any or less than 4 you get 4. Pretty sweet deal. They also have a managed index option versus just straight index. In your situation this would be solid option because the guarantee is more than you get now. Do you have a surrender charge if you bail now on these 2?

I agree some of these are better deals than others, but the deal can only be so "sweet". Let's remember this is the fixed annuity space, and the companies must make money of course. Underlying all of these various indexes are bonds and options and over the life of any annuity the ins company is not going to allow the returns to be too "sweet" for too long. These are conservative fixed products. I just want to point out the expectations are important.

 

[pfg1]

Jason, it is great that you are asking questions. At this point for your own personal benefit and gain, I strongly recommend you sit down with an agent or adviser and focus on your personal strategy.

The forum is great and you will get some good advice, you will also get some bad advice. And even if all you get is good advice, it won't be in complete agreement. Right now you run the risk of several hands on the tiller. Even if everyone means well, there will be a fight for control and your financial ship will be adrift. Pick someone you want to work with and limit the hands on the tiller, just you and your adviser and you should work in sync.

Also, something to keep in mind. Unless you are willing to post your policies on the forum, which I wouldn't recommend without redacting personal data, we are all just guessing at what you have, how it has preformed and what options you have with existing policies. The advice you get will be based on assumptions made off incomplete data.

I agree 100%.

I've seen all your posts and questions lately... take the advice many have given you and reach out to someone for help. If you don't, and instead just rely on comments and info on a forum (that may or may not fit your personal situation), you may end up worse off than you started.