Annuity Quotes Online Cleveland Ohio OH
Reader’s Question:
Hi! I’ve heard of variable annuities and what they do, and they seem too good to be true. I’m sure there’s a negative feature that insurance companies in Cleveland Ohio OH are covering up, right?
Chloe
Cleveland, OH
Hi, Chloe! I wouldn’t go as far as saying that insurance companies are hiding something from their policy holders or potential policy owners. After all, all companies, including insurance companies in Cleveland Ohio OH, would want to preserve their name and in fact go to certain lengths just to do so. Similarly, nowadays customer service seems to be more and more the game. So it would bring an insurance company more losses than revenues if they try to dupe (for lack of a better term) their customers. To get a glimpse on how this insurance companies operate, or get a preview of how they do business, you can try entering your zip code on the space you find on this page.
Instead, let us try to evaluate objectively the investment known as variable annuity. In variable annuity, you deposit a certain amount of money with your chosen insurer in Cleveland Ohio OH. You also get to choose your beneficiary, and also the time when you want the payouts to be made to you. Payouts has two components, namely the principal and the interest. Principal is the amount you have deposited, nothing more and nothing less. Interest is the accumulated revenues borne by investing your money in some securities such as stocks. It is this interest that dictates the variability of your annuity plan. Variable annuity does not have a fixed interest and is considerably high-risk. With high risks also come high potential of return. So this is the downside or catch, if you like, of variable annuity, Chloe. There is no guarantee on the interest to be handed out to you, although your money remains intact.
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