Brad Pistole

Brad Pistole

Brad graduated with a BS in Education from Arkansas Tech in 1993. He holds his Life and Health and P&C Licenses in Missouri and Arkansas. He is a member of the National Ethics Association and the Ozark Chamber of Commerce. Brad has been recognized with Ed Slott and Company as a Master Elite IRA Advisor from 2010-present.

Trinity Insurance & Financial Services

551 N. Farmer Branch Rd.

Suite 101

Ozark, Missouri 65721

brad.pistole@retirevillage.com (417) 581-9222
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What do you want the annuity to accomplish for you?


That question is best answered with another question.


What is the purpose of the annuity?


What would you like it to accomplish for you?


Many companies and annuity marketing organizations will tell you about how great their annuity products are, and generally, their features and benefits are solid and well thought out. The issue isn’t the product, but how the annuity makes sense for your specific situation.


As an example, if you require safe, secure regular income, the benefits of tax deferral would have no bearing. The same is true for saving for retirement. If the beneficiary benefits are embellished, then the use of an annuity may not make sense.


A simple rule to follow is this: every annuity is a great product but only if it makes sense to you and your situation. It is essential you collect the facts and match your needs up to the benefits available.


Considerations should include topics such as risk tolerance, income needs, long-term care needs, guaranteed interest rates, payout options, inheritance, fees (if any), and other contractual features.


So to answer the question, which annuity is best? The answer is it all depends on what the use of the annuity is and what you want it to accomplish.


Tips for selecting the best annuity for you:

• Compare the features and rates of different annuity plans

• Review the annuity provider for service history

• What is the guaranteed interest rate?

• Does the annuity contract contain surrender penalties? If so how long are they? Are the fees forgiven in the event of death? In the event the annuity is used as income?

• Are there any fees or expenses?

• What are the options for accessing your funds?

• Does the beneficiary receive the full value of the annuity?

• What are opportunities for income offered in the contract? In conclusion, always take your time and make sure the annuity matches up to your expected use.


These basic questions can provide the answer if selecting an annuity makes sense for you.

 

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