How can I get an 'Equity Indexed Annuity' ?

Answer 1

My advice, DON'T!!! Annuities are some of the worst investments a person can make. If you want an "Equity Indexed" anything, I'd recommend a mutual fund or an ETF.

Annuities are basically a savings account with an insurance company that pays a lower rate than you could get in so many other places.

Answer 2

Look in the phone book's yellow pages for an Independent insurance agent. But why would you want one? They are very expensive, tie up your money for 7 to 10 years, any death benefit would be better under a term life insurance policy. Is it the guarantee they offer of not losing money? Buy an index ETF with a stop loss order. With an ETF, if the index goes up 30%, your investment will go up the same. With an annuity, not nearly the same. The insurance company needs to make a profit. Is it the tax deferral? You lose with the annuity as when it is over, any capital gains you may have are taxed at the higher income rate. Better off buying a straight index fund or ETF and be taxed at the capital gains rate of 15%.

Answer 3

As a financial advisor, let me tell you one thing... index annuities are the least understood product in the investing world today. I don't have the space or time to write a four page essay, but to be brief... you have probably heard that you either get a fixed return or the investment return of the 'index', whichever is higher, so that you can't really lose. In most cases however, getting the 'higher' of those two situations involves annuitizing te product... in other words you only get that return if you take the money out as monthly payments spread out over your lifetime. Often, if you just want to take your money as you want it, all you get is the normal fixed account... and usually there are better fixed rates available in a plain ol' no strings attached normal fixed annuity.

Hope that helps.

Answer 4

Easily. Any greedy broker or Insurance salesperson can sell them. They are among the highest commissioned products in the investing world. They'll love you.

About 90% of all variable annuities are sold for the wrong reasons, to the wrong investors.

A. Invest in ROTH IRA's, IRA's &/or 401K (403B) accounts first.
B. Invest in S&P500 funds from Vanguard or Fidelity. Or (even cheaper) an ETF like "SPY" or 'IVV". When you cash them in (after 1 year or more) you'll be taxed at the low "capital gains rate".... instead of your full earnings rate like a variable annuity.
That alone can save you 5 - 25% (or more) in taxes.
C. There is no penalty for drawing funds from an ETF or Fidelity or Vanguard... there will be a 7-10 year penalty period with a variable annuity.
D. Variable annuity fees are extreamly high. Most are hidden.

There's more... but I don't have the time!