hastings4455 -You said <<Someone told me that "two-tier annuities" -- in which the annuity company will charge high fees if the annuity holder wishes to transfer money out, instead of annuitizing the contract -- are no longer sold. However, another contact claims they are still being sold in most states. Can anyone give me a definitive answer? Thanks.>>I'm not sure what you mean about "two tier"... If you are referring to "surrender charges", than you are (partially) correct. Many annuity contracts have a provision that will penalize the account owner for a early withdrawal (within 7 years), and it's waived if you annuitize the balance. There often is a provision to make a penalty-free partial withdrawal, however! What else would you like to know?Regards, PP
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra