Quote:
Originally Posted by busdriver12
Mayday, have you thoroughly vetted this product? When I have looked at reviews about Allianz annuities, they are pretty bad. The outstanding reviews look like they are written by company employees, but most of the reviews are terrible, and they sound real.
Huge surrender fees, problems getting your money back, large commissions, returns not what they promised. If it's a great product, why do they have to give you an additional 30K for every 100K you deposit? It sounds like this is not the stable, zero risk product that you want from an annuity, but something kind of shady. I am not comfortable with this company.
Whew ... where to start? I'm not an investment advisor and I don't even play one on TV.
- I've done LOTS of homework. And like I said originally, fixed index annuities aren't for everyone.
- "If" you know you'll need this money in the next 10 years you can only access 10%/year without surrender charges (there's a clause that says if you need the money for medical bills/Nursing Home Care then there are no surrender charges for early withdrawal). I don't "think" I'll need this money for the next 10 years ...
- The Allianz 222 product is a NO COMMISSION product. The independent fiduciary broker is paid directly by ALLIANZ (not directly from the money you are investing).
https://www.allianzlife.com/annuitie...-annuities/222
As best as I can tell there is no downside stock market risk. "If" the market tanks you receive 0% interest that year but your principal and accumulated interest does not go down (do you think the market could be ready for another MAJOR correction in the next few years? Are you willing to bet your retirement savings on it?).
Last year ALLIANZ annuities paid more than 10% (granted it was a remarkable year for the market).
There are lots of different investments options (I own some of them also). There are other ALLIANZ options.
This doesn't work for everyone. I'm not trying to sell it to anyone. I just commented on the OP's original question.