New answer on: Can Young People Buy Annuities?

By: Larry Gilmore

Larry Gilmore — Fri, 24 May 2013 15:18:39 +0000

Can young people buy an annuity? Yes, but they must meet height requirements for the purchase.. ;). No, not really. Annuities do not have a starting age per se as a parent can take out a policy for a child under 18. An annuity is a contract so contract law would apply for a young person to purchase a policy by themselves, so 18 would be the starting age limit for individual purchase of an annuity.

By: David Racich

David Racich — Fri, 24 May 2013 13:50:45 +0000

Yes, but should they? Any investment or savings product should be purchased on the basis of a person’s risk profile and financial suitability. Defining what is young, may or may not be the issue. Most profile’s that identify a low tolerance for risk and a long term financial strategic goal for ultimate income, should consider fixed or indexed annuities. Those will higher investment risk threshold may want to consider variable annuities.

By: Ted Ratliff

Ted Ratliff — Fri, 24 May 2013 10:31:13 +0000

Anyone can purchase an annuity as long as it is suitable for their situation and they have the money to invest. In fact it is not a bad idea to have at least some of your portfolio in safe money investments such as annuities to help provide a cushion against the potential losses of the stock market. Many Indexed annuities have shown a very competitive gain over a period of time.