How Much Does an Annuity Cost?

Annuities are part of an insurance policy that pays out income, and they are regularly used by people as part of a retirement strategy.  As a matter of fact, most companies claim that by putting a lump or periodic sum of money into an annuity, the principal is “guaranteed” with an insurance benefit.  Not to mention that most of these companies claim that you will be receiving as much as $4,000 a month for life.  However, the costs of annuities are relatively high.  This is the reason that annuities usually receive negative acceptance among the majority that are out there planning for retirement.  There are other options now available that people deem to be more helpful.

How much does it cost?

What is going to be included?

What are the extra costs?

  1. Commission
  2. Underwriting
  3. Fund Management
  4. Penalties
  5. Tax Opportunity Cost
  6. Tax on Beneficiaries 

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How much did you spend?

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