Question 1

How often do annuity rates change?

Accepted Answer

MYGA and Fixed Indexed Annuity rates change as carriers respond to the broader interest-rate environment — sometimes monthly, sometimes within days. We update our published rates regularly, and your specialist will confirm a live quote before you commit.

Question 2

Are the rates shown guaranteed?

Accepted Answer

Published rates are illustrative of current top offerings. Your actual locked-in rate depends on your age, state of residence, premium amount, and product features at the time of application. Once issued, a MYGA rate is guaranteed for the full term.

Question 3

What's the difference between APY and a cap rate?

Accepted Answer

APY (annual percentage yield) is the guaranteed annual return on a MYGA — set on day one and locked for the term. A cap rate is the maximum yearly credit on a Fixed Indexed Annuity tied to an index; if the index returns more than the cap, you receive the cap.

Question 4

What exactly is an annuity?

Accepted Answer

An annuity is a contract with an insurance company. You contribute a lump sum (or series of payments), and in return the carrier guarantees growth, future income, or both — often with tax-deferred treatment along the way.

Question 5

Fixed, indexed, or variable — which is right for me?

Accepted Answer

Fixed annuities offer a set guaranteed rate, similar to a CD but tax-deferred. Indexed annuities tie growth to a market index with downside protection. Variable annuities invest in market subaccounts with more risk. Your specialist will recommend the type that matches your goals and risk comfort.

Question 6

Are annuities safe?

Accepted Answer

Annuities are backed by the claims-paying ability of the issuing insurance carrier. We only present quotes from A-rated and above carriers with strong financial reserves and long track records.

Question 7

How much does it cost to get a quote?

Accepted Answer

Nothing. The assessment is free, and a specialist will walk you through your options without obligation. Carriers compensate the licensed agent if you choose to move forward.

Question 8

Is there a minimum to open an annuity?

Accepted Answer

Most carriers we work with start at $25,000–$50,000, though some specialty products start lower. Your specialist will only show you contracts that match your investable amount.

Question 9

What about surrender periods?

Accepted Answer

Most annuities have a surrender schedule (typically 5–10 years) during which large withdrawals may incur a charge. Most contracts also allow 10% annual free withdrawals. Your specialist will explain the terms before you commit to anything.

Question 10

Can I fund an annuity with my IRA or 401(k)?

Accepted Answer

Yes. Annuities can be funded with qualified retirement money (IRA, 401(k) rollover) or with after-tax savings. The right structure depends on the source of funds and your tax situation.

Annuity questions, answered.