Buy An Annuity Online | Request Annuity Quotes

Shawn Plummer

CEO, The Annuity Expert

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How To Buy Annuities Online

1. Request A Quote

Before you buy an annuity online, do some research. The best way to research annuities is to reach out to an expert and request quotes, based on your specific needs.

2. Gather Your Information

You must first provide your social security number and driver’s license. You’ll also need the information for any annuitants, including their date of birth, address, email, phone number, and social security number if you’re adding someone who is not yourself. It’s also a good idea to select at least one beneficiary.

3. Fill Out The Application

After you select your annuity, you’ll be asked some basic questions on the application. The annuity company wants to assess your needs and make sure an annuity is a right fit for your retirement plan.

4. Choose the Annuitant and the Beneficiary

The annuitant is the person who is insured by the annuity. The annuitant is usually the owner but can be a different person.

Beneficiaries are those who will benefit from your annuity if you die before the agreement runs out. They’ll usually be able to withdraw the premiums you’ve paid without penalty.

5. Decide How to Fund Your Annuity

You just need to decide what money you will use to fund your annuity. Most people transfer money directly from their savings and checking accounts via a check or wire.

You can also fund your annuity with money from a 401(k) or IRA (money that’s considered qualified funds). Or you can choose to transfer an existing annuity from another insurance company to a new annuity company.

5. Review Your Application And Sign Then Send Funding

Review your application, sign your documents online via DocuSign, and send the funds directly to the insurance company (not us). After the insurance company has received the funding, you will have an annuity within 48 hours.

What Are the Advantages of Buying an Annuity Online?

1. No Service Fees

The Annuity Expert does not charge fees for the service. The insurance company pays a commission to us when an annuity is sold. The commission is pre-determined by actuaries when the plan is created, and will not affect the annuity you purchase in any way.

2. No Buying Pressure

What’s the best part of purchasing an annuity online? You don’t have to be concerned about someone forcing you to buy it straight away. The Annuity Expert provides a no-pressure process based on the honor system.

We do not harass you with phone calls.

3. Faster Process

The process is faster and simpler. Buying an annuity online is designed to get you an annuity without a sales pitch, seminar, or coming in for several face-to-face meetings.

4. Largest Selection Of Annuity Products

The Annuity Expert has the largest selection of annuities in the United States, providing you with more options than your typical agent or financial advisor.

What Are the Risks?

The Online “Annuity Website” May Not Actually Sell Annuities At All

Some websites provide content about annuities (written by writers, not experts) when, in reality, they’re lead generation websites and data aggregators. They take your personal information and sell it to unvetted insurance agents and financial advisors.

Lead Generation Website Examples

If you don’t like unsolicited phone calls and emails, stay away from these sites.

  • Annuity General
  • Ken Fisher (Steers you to investments)
  • AdvisorWorld
  • Annuity Alliance
  • Annuity FYI
  • Annuity Advisors
  • Annuity Gator
  • SmartAsset
  • Betterment
  • Investopedia
  • Annuity.com
  • Annuity Educator
  • Annuity.org

Which Annuities Are Safe to Buy Online?

The safest annuity to buy directly online is a fixed, fixed index, immediate, or Long-term care annuity.

  • Fixed annuities give you a fixed interest rate for a guaranteed period of time. When your annuity contract is up, you can get your original investment plus interest in one lump-sum payment.
  • Fixed index annuities give you a fixed interest rate or interest based on the performance of an external index such as the S&P 500 or Nasdaq. Your money is not directly in the stock market but merely used as the “measuring stick” to determine the interest you earn. When your annuity contract is up, you can get your original investment plus interest in one lump-sum payment.
  • Immediate annuities simply convert a lump-sum of money into a guaranteed stream of income for either a fixed period of time or for the rest of your life.

These annuities are protected against stock market volatility, so you’ll know you won’t lose any money.

Which Annuities Are Better Bought With An Agent, Face To Face?

Consult a financial advisor before buying variable annuities. These annuity products are complicated, have investing risks, and can come with high fees.

What Should You Look For in an Annuity Provider?

1. Good Financial Strength

Annuities aren’t FDIC-insured, nor does the federal government have to step in if your insurance company goes bankrupt. Insurance companies are backed by their state guaranty association. To protect your retirement savings, make sure the insurance company you choose has good financial strength. How can you be sure of that?

Look at ratings from an independent credit rating agency like Standard & Poor, Moody’s, Fitch, and A.M. Best, to evaluate your insurance company’s financial situation. A rating of “A-” or better should be a good sign that you are with a strong insurance company.

3. Transparency

Annuities can indeed be complicated. This is why you need an expert to educate you on exactly how they work so you are CONFIDENT in the annuity you purchase.

In today’s world, insurance companies clearly spell out even the smallest details in your contract. You will know how your money will grow, what your income payments will look like, how much you’ll pay in fees, what to expect if you take early withdrawals, and what will happen if you die prematurely.

How To Buy Annuities

How To Buy An Annuity

  1. Get Annuity Quotes

    Based on your goals, we will use our technology to compare hundreds of annuity products with over 50 insurance companies to assure you achieve the best results for your retirement.

  2. Apply Online

    Annuity Application

    Once you have selected your annuity, you will apply online directly with the insurance company or DocuSign. We will be here to support you during the application process and answer any questions. A copy of a government-issued photo I.D. is required when applying.

  3. Application Review

    Once the insurance company receives your application, their suitability team will review it and reach out to you to confirm any final details.

  4. Application Processing

    Most insurance companies have a processing period of up to 3 weeks, including processing funding and issuing the policy. After that, funds are sent to the insurance company directly. The Annuity Expert does not handle monies.

  5. Policy Receipt

    Once the application processing is complete, the insurance company will provide you with a formal policy document. From the time you receive the policy, there will be up to a thirty-day free look period in case you want to reject the annuity for any reason.

  6. Managing The Annuity

    Once you purchase your annuity, we’ll help you every year to maintain your annuity, provide expert advice, and any additional requests.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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