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You are here: Home / Annuity Commentary / Annuity Undo Buttons – Using Your Free Look!

Annuity Undo Buttons – Using Your Free Look!

February 21, 2015 By Annuity Guys®

Most big ticket purchase come with a warranty or a **guarantee – including annuities. Did you know that all annuities come with a money back satisfaction **guarantee?

Annuity owners are permitted to terminate their annuities contracts without penalty or surrender charges during their free-look period. The free-look period differs by state and by carrier but typically last for a period of not less than…[continued below video]

Video: The Annuity Guys, Eric and Dick examine one of the most unknown and misunderstood aspects of an annuity purchasing decision.

**Guarantees, including optional benefits, are backed by the claims-paying ability of the issuer, and may contain limitations, including surrender charges, which may affect policy values. During this segment, Dick and Eric are referring to Fixed Annuities unless otherwise specified.

…10 days. If the annuity owner decides to surrender the contract during this period, they can receive a full refund of premium paid thus releasing them from the contract which allows them to re-consider their options or pursue other alternatives.

The free-look provision provides annuity purchasers an extra level of comfort knowing that they can “undo” their decision if they find something discomforting or unexpected in their contract at the time of delivery.
Investopedia explains ‘Free Look Period’
During the free look period, the purchaser can continue to ask the insurer questions regarding the contract in order to better understand the policy. If refunded, the amount given back may equate to the value of the account at cancellation or to the amount of purchase payments, depending on the state.

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Filed Under: Annuity Commentary, Annuity Guys Blog, Annuity Safety, Annuity Strategies

About Annuity Guys®

Annuity Guys®, Dick & Eric, enjoy entertaining you with their off-beat sense of humor, lighthearted sarcasm, and no shortage of expertise on annuities as they discuss today's retirement challenges. Got annuity questions... they've got annuity answers!

 

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Comprehensive Site Terms and Disclosure | Privacy Policy | Copyright © 2023 Annuity Guys®


  ** Guarantees, including optional benefits, are backed by the claims-paying ability of the issuer, and may contain limitations, including surrender charges, which may affect policy values. Annuities are not FDIC insured and it is possible to lose money.
Annuities are insurance products that require a premium to be paid for purchase.
Annuities do not accept or receive deposits and are not to be confused with bank issued financial instruments.
During all video segments, Dick and Eric are referring to Fixed Annuities unless otherwise specified.


  *Retirement Planning and annuity purchase assistance may be provided by Eric Judy or by referral to a recommended, experienced, Fiduciary Investment Advisor in helping Annuity Guys website visitors. Dick Van Dyke semi-retired from his Investment Advisory Practice in 2012 and now focuses on this educational Annuity Guys Website. He still maintains his insurance license in good standing and assists his current clients.
Annuity Guys' vetted and recommended Fiduciary Financial Planners are required to be properly licensed in assisting clients with their annuity and retirement planning needs. (Due diligence as a client is still always necessary when working with any advisor to check their current standing.)



  # Investors should consider the investment objectives, risks, charges and expenses of a variable annuity and its underlying investment options. The current prospectus and underlying prospectuses, which are contained in the same document, provide this and other important information. Please contact an Investment Professional or the issuing Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.


  ^ Investors should consider investment objectives, risk, charges, and expenses carefully before investing. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.


  ^ Eric Judy offers advisory services through Client One Securities, LLC an Investment Advisor. Annuity Guys Ltd. and Client One Securities, LLC are not affiliated.


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