Most people can't fully explain the annuity they own. And that's not their fault. Annuities are one of the most important pieces of a retirement plan — but also one of the most confusing.
These 10 questions cover exactly what our team checks in every audit. Go through them yourself. If you can't confidently answer even a few, that's the signal it's worth a second opinion.
The 10 questions
What type of annuity do I have?
SPIA, Variable, Fixed Index, and MYGA all work very differently. Between the four main types, most people can't identify their own contract on paper. Knowing your type is step one.
What are my total annual fees?
Fees stack across multiple layers — M&E, admin, riders, fund expenses — and can total 3–4% per year without you realizing it. Add every fee together as a total annual percentage.
Is my surrender charge period over?
Many people stay in underperforming annuities because they assume there's a penalty. Most surrender periods run 5–10 years. If yours is over, you're free to move with zero cost.
Does my annuity have a long-term care rider?
Some newer annuities let your account value pay for long-term care if you need it — a benefit that didn't exist on many older contracts.
What is my current guaranteed minimum interest rate?
The interest-rate environment has shifted dramatically. A rate that made sense five years ago may look completely different today. Only a side-by-side check will tell you.
Are my guarantees and income riders still competitive?
Living benefits, death benefits, income riders — the guarantees carriers offer have evolved. In some cases, a newer contract offers more protection for the same premium.
Has my agent reviewed my contract in the last 12 months?
An annual review ensures your annuity still aligns with your goals. If your agent hasn't checked in, your contract may not be getting the attention it deserves.
Am I taking advantage of all available riders and benefits?
You may be paying for riders you've never activated, or entitled to benefits you didn't know existed in your contract.
What happens to my annuity if I pass away?
Some annuities reduce payouts to beneficiaries or have complex rules that could leave your family with less than expected. Check what passes and whether there's a better structure.
How strong is the carrier behind my annuity?
Guarantees are only as strong as the company standing behind them. Check your carrier's financial ratings and compare them to the A+ rated carriers on the market today.
How did you score?
Count how many you could answer with real confidence.
Confident answers? Your annuity may be just fine. An audit can confirm it in writing.
Some gaps. A free review could uncover savings or better protection.
Time for a second opinion. You may be overpaying or underprotected.
Not sure about your answers?
That's exactly what the audit is for. We'll answer every one of these questions for you — completely free, no obligation. If your annuity is great, we'll tell you to keep it.
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