On Oct 1, 4:05 am, pbd22 <dush...[at]gmail.com> wrote:
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Are you outside of the surrender period of your current allianz
annuity?

I recently switched from a John Hancock Revolution Extra Annuity to a
Jackson Perspective L Series Variable. One thing I liked about this
Jackson product is that it guarantees my principal and pays a 5% bonus
every yr in the first 10 yrs. Also it has only 4-yr withdrawal
charge, so after 4 yrs, withdrawal is 0. On other thing: the agent
makes more money if I make more money on my investment mix, so he
keeps a good eye on things & keeps in contact making recommendations.
This is unlike my JH annuity, where no one ever contacted me unless
they wanted to sell me more products. By the way, I got the step-up
provision & 5% benefit increase, which will cost me in fees, but I
felt it was worth it.
Maybe the fees are somewhat high, as noted in other replies to this
post, but I am willing to pay more for the above perks. I am not a
numbers or finance person myself, and I find annuities extremely
complex. So we will see what the bottom line will be in a couple
yrs. I do know that this annuity didn't do so well with JH (it was
Allianz before that & did somewhat better).
SandyBeth


On Oct 1, 5:05 am, pbd22 <dush...[at]gmail.com> wrote:
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pbd22 wrote:

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With the disclaimer that I am on record as anti-VA (but pro immediate
annuity for the right client) I believe a switch to Jefferson National
makes more sense. They have an offering that eliminates all bells and
whistles, providing a $240/yr fixed fee. No other fees except for the
underlying funds within the VA. Doesn't Jackson has all the added
expenses including mortality, etc, driving the extras up past 1%/yr?

(I recognized the name but it's been awhile since I sifted through the
prospectus, if I recall incorrectly, my bad, but you should know your
potential expenses cold)

JOE

On Oct 1, 2:05 am, pbd22 <dush...[at]gmail.com> wrote:
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I randomly picked one of Jackson National VA products and saw the
following:

* Mortality Risk Expense: 1.10%
* Administrative Charge: 0.15%
* Mutual Fund Charge: 0.59% - 1.70%
* Total Fees: 1.84% - 2.95% + $35/yr

By comparison, Vanguard offers the following VA product:

* Mortality Risk Expense: 0.20%
* Administrative Charge: 0.10%
* Mutual Fund Charges: 0.14% - 0.44%
* Total Fees: 0.44% - 0.74%

So other than the fact that you'll be lining the pockets of your
financial advisor big time, I see no problems at all.

Besides appropriateness of course. If you are retired or near
retirement age, a fixed annuity a much better vehicle to be holding.
Variable Annuities should only be used for long-term accumulation of
tax-inefficient funds like bonds and REITs.

Hi.

I am not a finance person, but have a financial adviser that
recommends our family do a 1035 exchange from our
current Allianz fixed annuity to a Jackson National variable
annuity.

I am just wondering if anybody out there could come up
with any reason why this would be a bad move (besides
the costs associated with the transition).

Thanks in advance.