Non-Qualified Immediate Annuities

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rreigle1
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Joined: Wed Feb 06, 2013 7:27 am
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Non-Qualified Immediate Annuities

Postby rreigle1 » Wed Feb 06, 2013 7:39 am

Hello Everyone,

I have been researching annuities recently and I have a few questions. I am not interested in qualified retirement annuities with age restrictions on withdrawls and penalties. My goal is to have guaranteed monthly income and a check come to my door every month regardless of what happens. True passive income. I am slowly building a portfolio of dividend stocks, but I would like to balance this with annuity income.

My questions are:

1. Do any companies sell non-qualified (not for retirement) immediate (payments start right away) annuities to individuals that are in their twenties?

2. Is it possible to buy a contract for $1000 or less?

3. Will they mail the check to my door or do I have to initiate a withdrawl.

Thank you,

R

stannius
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Location: Seattle, WA
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Re: Non-Qualified Immediate Annuities

Postby stannius » Wed Feb 06, 2013 9:42 am

rreigle1 wrote:1. Do any companies sell non-qualified (not for retirement) immediate (payments start right away) annuities to individuals that are in their twenties?

Maybe. However, given your age, the payments would be really (really really) low.

rreigle1 wrote:2. Is it possible to buy a contract for $1000 or less?


$1000 up-front price? Or $1000 per month? I doubt you could find anything for $1000 up front; it would cost the insurance company more than that to set it up, it just wouldn't be worth their time.

rreigle1 wrote:3. Will they mail the check to my door or do I have to initiate a withdrawl.


I'm sure they would mail you a check every month or even do direct deposit.

GoldbergFinancial
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Re: Non-Qualified Immediate Annuities

Postby GoldbergFinancial » Wed Feb 13, 2013 11:51 am

Yes these people are right on here, you would get very little with a $1,000 thats too small of an investment to start with. As an Investment Advisor and licensed annuities insurance agent I work with a broker that specializes in annuities, I could ask them for you if you want. One annuity out right now pays a 7% interest rate guaranteed for 10 years then you can take income from it for the rest of your life. If your interested email me here: mgoldberg@goldbergfinancialLLC.com

and I can get you some clear answers.


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