How To Apply and Purchase An Annuity
The Annuity Man
Let me start off by saying that not everyone needs to buy an annuity. They are not for everyone, and you need to understand that annuities are contracts...not investments. There are many annuity types, but most people use them as transfer of risk strategies that either solve for income or principal protection.
Annuities are the only financial product that provides an income stream that you can never outlive. It's an actual monopoly that only annuities can offer.
Applying for an annuity (regardless of type) is like opening an account at a bank or brokerage firm. You will have to provide your name, date of birth, Social Security number, and physical address of residency. In addition, you will have to provide a detailed overview of your financial situation, investments, etc. All of this information is confidential, but essential so that the issuing annuity carrier can make sure that the proposed annuity purchase is suitable and appropriate.
All of the questions asked are required by the carrier, and information is not shared or sold. The application has to go through an approval process by the issuing carrier before money can be applied to the specific annuity, and a policy is issued and mailed to you.
Contact Stan The Annuity Man for the best and highest contractually guaranteed quotes using Stan's proprietary annuity calculators. You can also receive Stan's 6 Annuity Owner's Manuals for free and under no obligation, and see a live feed of the best fixed rates for your specific state of residence.