Are you interested in a fixed annuity? While there are many benefits of this investment vehicle it is essential that you compare fixed annuity rates before making a final decision on which option and company is best for you.
Evaluating Fixed Annuity Rates
The process of evaluating fixed annuity rates can be simplified if you know what you are looking for. To start, you need to consider what type of fixed annuity you are interested in. It is good to speak with several companies about the products they offer, as well as the benefits and advantages of each one.
Generally speaking, fixed annuity rates are based on current market conditions. For this reason, rates can and will fluctuate on a regular basis. Before you decide to invest in a fixed annuity it is important to note that this is a long term investment.
In most cases, a fixed annuity will range from 1 to 15 years. Longer terms lead to higher rates. As you compare fixed annuity rates you want to consider both the length of the annuity as well as the rate that is being offered. Just like a certificate of deposit from a bank, some institutions will offer better rates than others. By comparing at least three rates you will get a better feel for which company can help you get the best return on your investment.
If you have questions about fixed annuity rates, or are interested in investing, contact several companies to discuss your situation. The majority of life insurance companies also sell annuities – so this is a great place to start!