What is a balanced annuity?

What is the difference between an immediate annuity and a variable annuity. ?

• Which companies have the lowest fees and best reputations? I've heard about a number of scams involving annuity sales to seniors. What kind of annuities are these?

• Answer:

  The scams for seniors are the Variable. They make a lot of promises that revolve around the stock market. The agent never tells the seniors about penalties, and they dont' do suitable Annuities. they are not for everyone. Always go with the fixed if you want safety. Do not do an immediate annuity unless you want to lock into the monthly income right now. The money then becomes the insurance company, and they will pay you out. Better to set it up to take the interest payments, or systematic withdrawals so the money is still yours. To do an immediate now with interest so low is silly. You'll get the best rates not going through a broker. The company I work with does not charge any fees to you for our Fixed Annuity. Interest 1st year is 6.6%. We work strictly with Seniors and understand their worries. I can give you the number to a local office if you let me know what state you reside