Two questions help clients avoid annuity surrender charges
December 6, 2016 by Chris Conklin
There is no such thing as a perfect financial product. Every product has its strengths and weaknesses. That’s why there is such a great variety of products available, as providers put together offerings to appeal to clients with varying preferences.
A fixed annuity is a great option for a client who is looking for a safe place for his or her money to grow without risk of loss. A fixed annuity provides a guaranteed interest rate, a flexible payout option, and a guaranteed income stream that he or she cannot outlive. Not only that, earnings from a fixed annuity aren’t taxed until the funds are paid out of the annuity.
However, a client may be deterred from purchasing a fixed annuity because of his or her concerns about surrender charges. You can overcome this objection by ensuring that a fixed annuity is selected to fit a client’s specific situation.
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