The default values for load charged on life insurance and load on annutiies is 15%. I have term insurance already and plan on buying an immediate annuity with a guaranteed monthly payment.
Do these load values apply or should I set them to zero?
Thanks in advance to everyone.
Disclaimer: ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO, are educational calculators designed to give users input in mapping out financial futures, but should not be acted upon as a complete financial plan. The creators of these programs are not certified, registered, authorized, or any other type of financial planners. These programs are simply tools for helping you think through economic futures. Its "recommendations" should be viewed as informative inputs into your own decision-making with respect to saving and the purchase of life insurance. ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO provide neither economic, financial nor tax advice, which can only be delivered to you by authorized professionals.
RSS
There are both sorts of immediate annuities out there. Conservative planning would have you pay a load even if you don't need to. Once you've purchased the annuity you know the load you paid so all bets are off.
Best,
Dick Munroe