The Abaris Guide To Buying An AnnuityUse our simple guide to understand how your annuity application is

processed and what you and your advisor should be doing at each step

RESEARCH

APPLICATION

SUITABILITY

PAYMENT

PROCESSING

REVIEW

Knowing whether an annuity is right for you, what type to buy and how it fits into your retirement strategy is the right first step.

MAKE SURE YOUR ADVISOR IS HELPING YOU UNDERSTAND HOW AN ANNUITY FITS YOUR RETIREMENT STRATEGY, NOT JUST PUSHING

YOU TO BUY ONE.

A comprehensive overview of your background, how much you’ve saved up for retirement and the annuity you’re interested in buying.

FORMS ARE FAIRLY STANDARD ACROSS INSURANCE PROVIDERS. ALWAYS DOUBLE CHECK INFORMATION YOU ENTER SEVERAL

TIMES—ERRORS CAN SIGNIFICANTLY INCREASE PROCESSING TIME.

Payment should always be made directly to the insurance company using cash or your retirement savings.

THE TYPE OF PAYMENT YOU USE HAS TAX IMPLICATIONS. REVIEW THOSE WITH YOUR ADVISOR.

Insurance companies process applications and payments 2-4 weeks after you’ve submitted.

CHECK WITH YOUR ADVISOR TO MAKE SURE ALL OF YOUR APPLICATION INFORMATION IS CORRECT AND CONSISTENT. THIS WILL SPEED THINGS UP.

States allow a “free-look” period that allows you to review and cancel a policy within a period of time.

FREE-LOOK PERIODS VARY BY STATE. CHECK WITH YOUR ADVISOR FOR YOUR STATE’S TIMELINE.

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Insurance companies will ensure the product you’ve chosen is suitable given your assets, what options you’ve chosen and payment dates.

NEW REGULATIONS HELP PROTECT CONSUMERS FROM UNSUITABLE PRODUCTS—MAKE SURE YOUR ADVISOR WALKS YOU THROUGH THESE.

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The annuity buying process can be overwhelming and confusing. Be sure to review our other information to help make it easier. As always, we’re here to help!