Can You Add Money to an Index Annuity?

Shawn Plummer

CEO, The Annuity Expert

Types of Index Annuities: Flexible and Single Premium

1. Flexible Premium Index Annuity:

  • Addition of Funds: Yes
  • Description: Allows ongoing contributions.

2. Single Premium Index Annuity:

  • Addition of Funds: No
  • Description: Requires a one-time lump sum payment.

Conclusion

In summary, adding money to an index annuity depends on its type. You can add money to a flexible premium index annuity, but not to a single premium index annuity. Contact us today for a free quote.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

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

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