Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: peppermintpatty Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19371  
Subject: Re: Annuities Date: 5/5/2001 7:55 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
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
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.