How to Shop for Annuities Like You’re Buying a Car

Figuring out which annuity suits you best starts with knowing what you want the annuity to do for you. Like vehicles, there are lots of options and add-ons.

An older woman smiles as she checks out the interior of a new car.
(Image credit: Getty Images)

So, you’re interested in having guaranteed income as part of your retirement strategy and looking for sources beyond Social Security. That can lead to considering adding an annuity to your portfolio and wading into all of the different products out there. And there are so many annuities out there that it can feel overwhelming.

The thing about selecting an annuity is that everyone is seeking something different from adding an annuity to their portfolio. So there isn’t a one-size-fits-all solution.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Kelly LaVigne, J.D.
Vice President, Advanced Markets, Allianz Life

Kelly LaVigne is vice president of advanced markets for Allianz Life Insurance Co., where he is responsible for the development of programs that assist financial professionals in serving clients with retirement, estate planning and tax-related strategies.