Given the scenario below, what is the best annuity option? Include riders if needed. Support your...

Given the scenario below, what is the best annuity option? Include riders if needed. Support your answer.

Julie has a stable income, and she wants something she can put her money into that is tax advantaged. Julie hates the idea of risk and does not want to lose her money. She is ok with consistent, low returns. She likes USAA best due to her military service. -

Expert Solution

Annuity option was one of the best long term investment option. Before considering the type of annuity you want to invest you should know various aspects. They are

1. Firstly we should know the benefits of each annuity such as income or interest rate it was providing.

2. We should know the processing charges, Commission payable and term of annuities.

There are various types of annuities such as fixed annuity, variable annuity, deferred annuity etc. Fixed annuities provide guaranteed returns and it has less risk. Variable annuities has investment risk. You can attach additional benefits or protection to your annuity contract through contract riders. There are two types of Contract riders. They are Living riders and death benefit riders. Living riders provide benefits while the person is alive and death benefit riders provide benefits to legal heirs. But taking these riders will cost additionally.

As Julie want stable income with no risk USAA fixed annuity will be the better option for her. But before investing she should ask some questions to the annuity provider like term, interest rate and contract agreement.

jeff jeffy answered 6 months ago

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