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CHECKLIST FOR EVALUATING AND COMPARING ANNUITIES
ACCUMULATION PERIOD
Is the annuity funded by periodic premiums?
___ Fixed premiums
___ Flexible premiums
___ What is the frequency of the premiums?
___ What are the premiums
___ How long the premiums will have to be paid?
Is the annuity funded by a single premium? If yes, how much?
Is there a minimum guaranteed interest rate during the accumulation period?
___ What is the rate?
___ How long is it guaranteed?
___ What happens after the expiration?
___ Is there a bail-out option?
Is there a death benefit or surrender amount in the policy?
___ Is the return of premium with interest?
___ When will the cash value exceed the premiums paid
___ Are there any surrender charges?
LIQUIDATION PERIOD
When does the liquidation period begin?
___ Is there an option to accelerate the starting date?
___ Is there an option to delay the starting date?
___ Is there a cash option at the start of the liquidation period?
What are the periodic payment
Are the periodic payments guaranteed or variable?
Are the benefits based on the insurer's investment results?
Are the benefits based on stock market index?
___ What is the participation rate?
___ What is the index?
___ Is there a cap on the participation rate?
___ Is there a guaranteed minimum?
What is the frequency of the payments?
Do the benefits continue for a specific period?
Are the benefits only for one lifetime?
___ Is there any period certain?If yes, how long?
___ Are there any cash refund or installment features? If yes, how much?
Are the benefits for two lifetimes?
___ Are the payments reduced after the first death? If yes, how much?
___ Is there a guaranteed minimum of the total benefits payments? If yes, how much?
