What to Expect In Your First Meeting With Your Annuity Sales Advisor

One of the most common questions we get from our readers is what questions should they ask when they meet with an annuity advisor, and what kind of questions will the advisor ask them?  We’ve polled some of the advisors in our referral network to get their thoughts on what a typical first client meeting is like.

Where should I meet my annuity sales advisor?

Most advisors leave this up to the client.  Some clients like to meet in the comfort of their own home where they have easy access to their financial records.  Others prefer to meet at the annuity advisor’s office to get a better feel for whom the advisor is, and some prefer the convenience of meeting a neutral location like a neighborhood coffee shop.  As far as the meeting place goes, most advisors leave that up to the customer.

What are some of the questions I should be prepared to answer in my first meeting with my annuity advisor.

  • How much do you already know about annuities?
  • What is your age?
  • Are you married, and if so, what is your spouse’s age?
  • Do you have children?
  • Are you still working, and if so, when will you retire?
  • What are your goals and objectives for your money?
  • What is more important to you, growth of the annuity or guaranteed income?
  • Do you plan on taking an income stream from the annuity?  If so, is it within 12 months or sometime in the future?
  • When in the future will you begin taking the income?  Is it 3 years, 5 years, 10 or more years?
  • Are you concerned with leaving money to beneficiaries?
  • Where is your money you intend to use for an annuity?  (ie, bank, stocks, 401K, existing annuities, etc.)
  • Is this qualified (never taxed) or non-qualified (already taxed) money?  (Qualified money has never been taxed like 401K, 503b, and IRAs.  Most bank money is non-qualified but can be qualified as an IRA for example).
  • Do you have existing annuities?  If so, what kind are they and how long have you owned them?
  • Do you have an advisor/financial planner?  Are you happy with his/her performance of your retirement funds?   If you’re happy, why are you looking into annuities?
  • How much money are you considering allocating to an annuity?
  • What is your time frame for purchase?

What questions should I ask my annuity advisor?

  • How much experience do you have selling annuities?
  • How long have you been selling annuities only?
  • Do you have any negatives or past disciplinary actions against your license?  If so, what/where was the issue?
  • Are you an independent advisor or do you work for one company?  (A “captured” advisor can only sell the products of a single company.  An independent advisor has access to hundreds of companies and their products.  You may benefit more with an independent advisor because no single company has the best product in all categories)

How should I outline my goals with my annuity advisor?

This is arguably the most important step in your meeting with your annuity advisor, and it’s worth giving it some thought before your first meeting.  You will want to make sure you can paint a clear picture of how much money you believe you will need from your annuity and how soon you will need to begin receiving payments.

If you are more concerned about the growth of the annuity versus an income stream or payments, make sure you clearly state those goals with your advisor.

What type of annuity is best for me?

This question is best answered after a conversation with your annuity expert.  The internet is a great resource for general knowledge and insight into annuities.  But after you have researched Variable Annuities, Multi-Year Guaranteed Annuities, Single Premium Immediate Annuities (SPIAs), Fixed Annuities, and Fixed Indexed Annuities, you will need to determine what type is best for your financial situation and goals.  You’ll also want to understand what company will offer you the features that best fit your needs.

This is where meeting with a licensed annuity advisor becomes important.  Rates, bonuses, and fees are some of the moving parts that will affect your individual situation.  Sitting down with a licensed annuity advisor will help you develop a clearer picture of what product is right for you.

Our recommendation is to always do your research online first, but never make a final decision about annuities before speaking to a licensed advisor.  The general concept of annuities can be easy to understand with the proper research, but before determining what annuity is right for you, it is recommended that you enlist an expert to sort out the finer details and avoid unwanted costs.

How do I find a licensed annuity advisor in my area?

If you would like help in finding a licensed annuity advisor in your area, please use the form below to let us know how to contact you and what types of annuity goals you have.

AnnuitySeeker works with a nationwide network of licensed independent annuity advisors.  Our network is not tied to one insurance company’s product, so we can provide our customers information on all the best annuity products available.  No one insurance company has the best products in all annuity categories, and working with independent agents will provide you the best and safest choices.

After you provide your basic contact information we will forward it to a local agent in you area. Please be sure to provide your zip code so we can locate an agent in your town.

We will not use your contact and email address for any other purpose except to refer you to a licensed agent.  AnnuitySeeker will not send you any additional email that does not directly relate to your current request to speak to an agent.

Good luck in your search for the best annuity product for your needs!

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Why do we need your full contact information?  Annuity products are regulated by each individual state and can only be sold by an annuity specialist licensed in your specific state.  We will transmit your contact information to a local annuity specialist licensed in your state that has access to the specific products and insurance company offerings available to you.  Information transmitted over our website is secure and your personal information will only be used to provide you a personalized annuity quote.  Once you receive your free annuity quote, you will be under no obligation to purchase an annuity.  AnnuitySeeker is committed to protecting your privacy and we will not use your information to send you any other offers.  If you would like to ask us any other questions about our privacy policy, please feel free to contact us at customerservice@annuityseeker.com.

Need more information about annuities?

What Is An Annuity | Fixed Annuity Guide | How Annuities Compare to Other Investments | Pros and Cons of Annuities