1. Proper Beneficiary Structure and Correction: Avoid irreversible problems by making sure your policy is set up to pay out as you intended. 

• Proper beneficiary structure can vary by annuity contract type: Some types of annuities do not payout out to the joint contract owner listed on the policy. These policies skip the joint owner and pass directly to the listed beneficiary instead. 

• Beneficiary payout triggers: Do you have an owner driven or annuitant driven Policy? Payouts are different for owner driven vs annuitant driven policies.

• Improperly listed beneficiaries: Policies with improperly listed beneficiaries may force a spousal beneficiary to share the proceeds with their children or other listed beneficiaries.

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2. Enhanced Benefits: Some annuities offer enhanced benefits such as doubled payments if certain medical thresholds are met. This and other valuable benefits may be hidden in the fine print. Understand your annuity policy so you don’t potentially miss out on valuable benefits. 

 

3. Renewal Deadlines: Some lifetime income benefits must be renewed at a specific time to keep the benefits in force. Some benefits may be reduced if a deadline is missed. Find out if your policy has any deadlines that you may not be aware of. 

 

4. Hidden Fees: Some policies include fees that are difficult to identify. Make sure you are not sacrificing earnings by paying fees for a benefit you don’t intend to use. 

 

5. Allocation Options: Make sure your allocations and crediting strategies are properly aligned with your financial goals. 

• Have your allocations and crediting strategies been reviewed in the past 2 years? 

 

Annuities are complex and ever changing. With a no-obligation review by one of our experienced agents, we will help you make sure the annuity you have today is still the most suitable annuity for your future. We specialize in proper annuity structure and correction, making sure you don’t outlive your money, retirement income planning, and wealth transfer strategies.