Quiz: Should I Consider Immediate or Deferred Annuities?

Last updated: January 19, 2016

Keep Track: Select Either ‘Yes’ or ‘No’ to Indicate Whether the Following Statements Apply to You:

The following quiz will help you determine whether you should consider an immediate or a deferred annuity. Select either ‘yes’ or ‘no’ to indicate whether the following statements apply to you:

1. Saving for retirement is one of my main goals.

_____Yes _____No

2. I do not want to withdraw money from my principal or interest until I am at least 59½ years old.

_____Yes _____No

3. I contribute the maximum deductible amount to my IRA, 401(k) or 403(b).

_____Yes _____No

4. I need an investment that will earn tax-deferred interest for many years.

_____Yes _____No

5. I am retired or very near retirement age now.

_____Yes _____No

5. I am retired or very near retirement age now.

_____Yes _____No

6. I have a lump sum of money and I want to begin drawing an income from it.

_____Yes _____No

7. I want immediate return from my investment.

_____Yes _____No

8. I want to receive a steady monthly check for the rest of my life.

_____Yes _____No

If you marked ‘yes’ for statements 1 through 4, a deferred annuity may be appropriate for you. If you marked ‘yes’ for statements 5 through 8, you’re more likely to need an immediate annuity.

  • A financial adviser or qualified insurance agent can help you explore these options further.

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