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Author: theHedgehog Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35357  
Subject: Re: Allianz Endurance 15 Annuity Date: 11/26/2007 1:32 PM
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Am I getting a snow job?

The short answer: most likely.

Annuities are not sold by financial advisors, they're sold by salesmen working for insurance companies. Look into the mirror and say 10 times: "An annuity is not an investment". Keep on saying it until you feel it in your gut. At that point, you can start asking yourself if there are any actual benefits to you and your husband in purchasing one. If you're not rich, chances are that you'll regret purchasing it later.

One problem is the 1.5%-3%! No, that can't be good. Can't you just buy a long CD (5+ years) at 5% or whatever they are? I mean, why do you actually *need* for this to be an annuity?

In any case, unless you have some specific tax issues that can only be addressed by an annuity, you're probably not going to be well served by buying one. An annuity is first and foremost an insurance product - not an investment.

Others may disagree with the above, or have more specific information about the type of annuity he is trying to sell you. But, in the end, it's still an annuity, and unless it specifically addresses problems you have, then you don't want it.

Hedge
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