By AnnuityTown Editorial Team
Begin with the reason you bought it
Was the contract intended for growth, principal protection, future income, current income, or leaving money to a beneficiary? The review should start with whether that goal still applies.
Find the current values
Ask for the current cash value, surrender value, cost basis where available, and any separate income or death-benefit value. These figures may not be interchangeable.
Check the dates
Identify when the surrender period ends, when any rate guarantee renews, and whether an income benefit has an age or waiting-period milestone.
List the contract's moving parts
Note rider charges, crediting options, caps, participation rates, spreads, declared rates, withdrawal limits, and the provisions the insurer can change.
Review beneficiaries and ownership
Confirm that owner, annuitant, and beneficiary designations still match the intended plan. Do not send sensitive documents through an unapproved website form.
Treat replacement as a separate decision
Moving to a new annuity can restart surrender charges, change guarantees, create a new commission, and cause existing benefits to be lost. Request a written comparison before replacing a contract.
A licensed professional can review the statement and contract during a scheduled conversation, identify the questions that matter, and explain the options without requiring you to decode the paperwork alone.