Short
Can you add money to existing annuities?SummaryIn this 0:24 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Can you add money to existing annuities?.” Can you add money to an existing annuity? You can add money anytime you like, even after the surrender charge period. It says single premium modified, meaning you can add during the. And multiple premium means like $1,000 a month over a period of time Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideYou usually have to pay a surrender or withdrawal charge if you take some or all of your money out of a deferred annuity during a stated period. Some contracts allow a limited free withdrawal each year (for example, 10% or less of account value). Fees, surrender charges, and any market value adjustment can reduce what you receive. Read the contract for how charges work in your state. Deferred annuities differ by how you pay premiums—such as single premium, flexible premium, or other patterns described in the contract—and by fees and charges. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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