Depending on your individual situation, you should consider exchanging to a no-load, no surrender charge annuity. Actively manage your annuity account. Like any other investment fund, you should watch over your annuity, particularly if you invested in a variable annuity. The advent of annuities available online makes this easier than ever. The cost of annuities.
Many annuities come with hefty mortality and expense fees, and management fees as well.
The bonus annuity is generally misleading. Do not be fooled as these rates are guaranteed to drop after the first year to make up for the difference between the guaranteed and market interest rates. Research the saftey rating of the insurance company. An annuity is a contract between you and an insurance company offering a return on your investment. Moody, AM Best, and other agencies regularly rate the companies.