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Can you add money to an existing annuity?SummaryIn this 0:30 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Can you add money to an existing annuity?.” Can you add money to an existing annuity? A single premium means you can put dollars in upfront one time and a modified single premium means you can add during the. And a flexible premium means you can add dollars anytime you like to the existing annuity. You have car insurance premium, life insurance premium, health insurance premium, your annuity premium Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideDeferred 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. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Immediate annuities begin payments soon after purchase; deferred annuities begin at a later date you choose. Most deferred annuities have an accumulation period and a payout period. 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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