Print them, bring them to every meeting, and notice which questions an advisor answers happily and which ones they rush past. That tells you as much as the answers do.
Question 1
What is the annuity process?
You pay a lump sum (or series of payments), it grows at a fixed or variable rate, and withdrawals before age 59½ usually trigger penalties. Know the mechanics before anything else.
Question 2
What are the different types of annuities?
Fixed (guaranteed rate), variable (market exposure, more risk), and indexed (a middle path). Each fits a different person — and each can be mis-sold to the wrong one.
Question 3
How much of my savings should go into an annuity?
A common-sense target: enough guaranteed income to cover your basic living expenses — not every dollar you have. Be wary of anyone who suggests otherwise.
Question 4
At what age does an annuity make sense?
Most people who benefit are in their 50s to 70s, and the interest-rate environment matters. Timing changes the monthly number meaningfully.
Question 5
What is the surrender period?
The years (often 5–15) when early withdrawals trigger escalating fees. This is the single most important fine print in any contract you’re shown.
Question 6
Will it protect my spouse?
Joint-and-survivor options continue payments for your partner’s lifetime, at a cost. Decide this before you compare quotes, not after.
Question 7
What about inflation?
Inflation-adjusted contracts start lower but grow. Whether the protection is worth its cost depends on your other income sources.
