Before investing in an annuity contract, it is a good idea to research multiple companies. Each annuity company uses a unique formula to determine its annuity payout rates. Depending on your current situation, you may be able to get a significantly higher monthly payment by finding the best company for your needs. When you are researching annuities, the best place to find information is through annuity quotes.
Annuity quotes list the key details of an annuity contract like the size of the monthly payment, the length of the annuity contract, and the owners of the annuity contract. This information shows you the total return on your investment. If you collect multiple annuity quotes, you can compare the investment rate of return from different companies and find the best deal for your purchase.
An annuity quote is the best way to research an annuity company’s offer because it can only list the numbers behind the annuity contract. Companies cannot use deceptive advertising on their quotes because these documents are regulated by government agencies. This regulation also requires that companies use similar reporting styles so it is very easy to compare quotes from different companies.
There are a couple ways to find annuity quotes. The traditional way to get an annuity quote is through a company representative. You contact an annuity company and request a meeting with a company agent. The agent meets with you, gives you a presentation on his company, and collects your financial information. You may need to set a second meeting to receive your quote. This can be time consuming and make it difficult to collect multiple quotes.
A better way to compare annuity quotes is through a good annuity calculator. An annuity calculator is an online program that creates free quotes from different annuity companies. These programs are free and quickly produce your annuity quotes. Through these programs, you can efficiently compare annuity contracts and find the best product for your needs.