What does it take to get your money out of your annuities? That is a great question. It is probably no surprise that your annuity has surrender charges. However, some annuities require even a little more than waiting that surrender period out to getting your money. What I am talking about are what are typically referred to as two-tier annuities. Let me explain.
So what is a two-tier annuity? Essentially, It is an annuity that makes you go through two phases to get your money. The first phase is a deferral period. In this period, you are basically in 'waiting' while your annuity accrues interest. This is essentially 'the first tier.' Often times, you may have limited access to your money in this period but it is very limited (5-10% per year). The second phase is called a payout phase. This is when the insurance company pays you your money back. It is typically over a specified time period (usually 5 years or longer).
So let me explain this again. In a two-tier annuity, you invest your money. The 'investment' or 'waiting' period may be for 5 years (and sometimes as long as 10 or 15 years). Here is the kicker. No matter how long you keep your money in, you can never get it back in a lump sum. You must go through what is called a payout phase which again lasts for 5 years or longer. And what's worse is that often during these payout phases, the return is sometimes less than optimal. That means, no matter how well you did in your 'deferral' phase, your returns might become severely mitigated after you go through the payout phase.
AND FOR THE BIGGEST PROBLEM OF ALL...
The biggest problem isn't being in a two-tier annuity. The biggest problem is being in a two-tier annuity and NOT KNOWING you are in a two-tier annuity. Often, annuity consumers get shocked to find out that their annuity has a NEVER ENDING surrender period and that the only way to get the money out is by waiting out the deferral phase and taking their money over time. There are some annuities out there that require a 20 year time frame.
Again, the biggest problem is not knowing you are in a two tier annuity. Many clients have NO CLUE that they are in one. As I always say, ignorance IS NOT BLISS. You must know what you are getting in to prior to getting into it. Getting out of these annuities IS EXTREMELY expensive. Know thy annuity and know it well because you are going to have to live with it. Hope this helps.
The beautiful state of Florida is one of the top travel destinations in the world. It was named by Juan Ponce de Leon, who was the first to land on the peninsula on April 2, 1513 and the name comes from “Pascua Florida" (which is Spanish for “Flowery Easter", as it was Easter time when Ponce de Leon landed there).
The beauty and charm of Florida and its subtropical climate attract millions of tourists every year, but also new residents. Now you can be one of those lucky ones and fulfill your dream of living on the shores of the Atlantic Ocean. The new Florida homebuilders and developers provide you the lovely homes that you have always desired.
The best part is that you get back a part of the commission our agents makes representing you. This commission comes from the Florida home builder. Our company along with our real estate agents for the state of Florida can guarantee our clients up to 2% of their purchase price cash back – which means an average rebate of $3,000 - $15,000. Just think about how much money you can save.
To give you an example, if you buy a Florida preconstruction condo for $200,000, you will get $4000 back into your pocket. That is because we choose to share the commission that the Florida home builder pays us with our clients. The average commission is about 3% of the value of the condo, and we give back our clients up to 2%. This is really a win-win situation for everyone. It is nice to know that you can receive significant savings. Moreover, all you have to do is use our company to benefit from this money saving advantage.
You can easily find a Florida preconstruction condominium that you like, as the Florida home builder is not a “rare species" in the area. On our website, you can find a detailed map that you can browse through in order to locate new real estate in the region of your choice.
There is a great demand for Florida preconstruction condos; the reason for this is the climate is beautiful all year long. Just imagine yourself and your family living in a fancy home, located close to the beach – relaxing in your garden under the warm Florida sun while your friends living in other states complain about the bad weather.
If you have always wanted to settle in Florida, this is the right moment to do it. You now have the rare opportunity to buy a Florida preconstruction condominium at a lower price and save money, thanks to the rebate of up to 2% that you will get if you use our services. If you want to invest your money, you could not find a more easy way to save.
We hope to welcome you soon into the beautiful state of Florida. Until then, visit our website to find your home or the Florida home builder that is suitable for you. Everybody wants to live in Florida – the state where the weather is beautiful all year long. Some of us who are fortunate succeed. Why should you not be one of those lucky ones?
Both Tony Bahu & Ken Wilson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Tony Bahu has sinced written about articles on various topics from Life Insurance Annuity, Finances and Investments. To learn more in depth information about the inside secrets about that your agent isn't telling you or to get annuity help, simply go to AnnuityMD.com. Tony Bahu. Tony Bahu's top article generates over 1900 views. to your Favourites.
Ken Wilson has sinced written about articles on various topics from Software, Cars and Shopping. If you buy a condo now, part of the commission that developer or. Ken Wilson's top article generates over 45500000 views. to your Favourites.