Retirement Annuity Rates Online
Retirement annuities are generally those obtained through a pension plan provided by an employer to provide monthly payments for life or a non-qualified annuity product bought by an investor from an insurance company with after-tax dollars in exchange for monthly payments over a specified period of time. The amount of the retirement annuity rates depends on how much was invested, the age of the annuity owner, and period of time over which that individual has chosen to receive payments. When considering a retirement annuity, it is critical that you learn as much as you can about the plans, and there’s no place for research like the Internet. You’ll find just about any annuity information you need online, including retirement annuity rates.
Getting Annuity Rates Online
The Internet offers a wide variety of websites at which you can view and compare the retirement annuity rates offered by different insurance companies. Some sites even offer calculators that let you try out different rate and return scenarios as you do your research. Still others will provide an online form in which you can enter information about your particular annuity needs and receive an instant quote from an annuity provider at the click of a mouse.
Annuity Ratings Services
Ratings services monitor the financial condition of retirement annuity providers and issue “grades” representing the ability of the companies to make good on their promises and meet their long-term commitments. When choosing a retirement annuity, it’s important to check with the ratings services, which have their own websites that can be consulted on line. Remember, the premiums you’ll be paying for your annuity go into the insurer’s general account, so if that firm experiences an economic downturn, your assets are not protected, and you could suffer a loss.
The major ratings services are:
What Online Ratings Tell You
The ratings services provide letter grades for retirement annuity issuers that reflect their ability to pay claims, the overall strength of the firm as illustrated by its financial reserves, its financial history and how it has handled its own debts in the past, and the condition of the insurer’s general account investments. The letter grades range from A++ to F, although each rating service has its own notation. For example, the “superior” rating at A.M. Best is “A++,” while the top rating at Weiss is “A” for excellent.
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