What’s Covered In This Review
In this review, we’ll cover the following information on the Delaware Life Retirement Stages 7 Fixed Index Annuity:
- Product Type
- Current Rates
- Realistic long-term return expectations
- How it is used
- How it is most poorly used
Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in.
We make the complex, simple.
If you are thinking about the purchase of a financial vehicle that can provide you with index-linked growth and protection of principal, along with a lifetime income in retirement, then the Delaware Life Retirement Stages 7 fixed indexed annuity could be a viable option for you.
However, before running out and purchasing this, or any, annuity, it is recommended that you first get an in-depth understanding of how the annuity may or may not fit in with your particular financial goals, both now and in the future.
Throughout the past decade or so, annuities have grown a great deal in popularity. This is particularly the case with fixed index annuities (or FIAs), because these financial vehicles can provide the opportunity for increased return (versus a regular fixed annuity), as well as protection of principal. You can also generate an ongoing, lifetime in retirement via an FIA.
Due to this increased popularity, insurance companies have been providing new and enhanced products in the market place. However, because these products can be somewhat confusing, this isn’t necessarily a good thing, as the inner workings of fixed index annuities can ultimately lead to these products being sold wrong. This, in turn, can produce some very unhappy annuity owners, as their products – and their money – are not performing the way they expected it to.
Given that, it is important that you take some additional steps in order to fully understand what you are buying – as the purchase of an annuity could very well comprise a large amount of your overall retirement savings.
Annuity and Retirement Income Planning Information That You Can Trust
If this is your first visit to AnnuityGator.com, we would like to officially welcome you here to our website. Here, we comprise a team of experienced financial pros who have a key focus on providing very in-depth annuity reviews. Because we’ve been offering these for a number of years now, we have come to be considered a highly trusted source of annuity information.
If you’ve been in the process of seeking additional details about annuities via the Internet, it is likely that you’ve come across some highly conflicting information with regard to these financial vehicles. This, however, is not really surprising.
There are a plethora of different annuities out there in the market place, and there are many people who like to tout their features and benefits, as well as those who feel that annuities aren’t very good at all. However, whether or not an annuity is actually right for you can depend on a number of different criteria. Therefore, there is no one-size-fits-all annuity.
It may be that you have also recently attended an annuity seminar where, in return for providing you with dinner or lunch, the presenter at the seminar gave you in-depth details about annuities. This, in fact, may even be the catalyst that has brought you here to our website now.
While there are many very good websites online that focus on marketing annuities, some of these websites may try to lure in visitors so that they will part with their contact information. One way that they try to entice you is through the offering of some pretty bold claims about annuities, like:
- Lowest fees
- Highest income payouts
- Top Rated Companies
- Quick Quotes
- Guaranteed Lifetime Income
While claims like these can at first glance sound ideal, before diving in and purchasing an annuity, it is critical that you first determine whether or not the claims that are being made are even true – just like you would if you were getting ready to purchase any other high ticket item.
When doing this, you could essentially find yourself swimming in a myriad of annuity “small print” – which, in turn, could make your hunt for information even more tedious and/or confusing.
Yet, if you are really in need of the key details about the Delaware Life Retirement Stages 7 fixed index annuity, then you are definitely in the right place. In fact, we dare say that the website you are viewing right now is the only place where you will be able to find all of the information you need about this annuity, including the good, the bad, and even the ugly. In providing you with the whole picture, though, we feel that this is really the only way that you will be able to make a well-informed buying decision.
In many cases, when financial or insurance sales people are offering fixed indexed annuities, they will paint a nice and rosy picture of how the annuity offers the opportunity for growth, as well as protection of principal. But, in their presentation, they may also conveniently leave out some of the primary details about the annuity that could be considered as drawbacks. So, before you start the process of moving a large chunk of your hard earned retirement savings into this annuity, it is best to learn the whole story first.
In order to be perfectly clear here, though, we want to convey that we believe there are many great benefits to owning an annuity – provided that it fits in with your overall financial plan. Given that, it is not only wise to know just exactly what you are committing to, but also to know why you would be choosing one particular annuity over a whole host of other possibilities.
This annuity review is here so that you can better understand the “fine print” as it relates to the Delaware Life Retirement Stages 7 fixed index annuity. With that in mind, after you have read through it, you will have a clear picture as to whether or not it is the best annuity for you.
So, if you are ready to get started, let’s go ahead and dive in!
Delaware Life Retirement Stages 7 Fixed Index Annuity at a Glance
|Product Name||Retirement Stages 7|
|Issuer||Delaware Life Insurance Company|
|Type of Product||Fixed Index Annuity (FIA)|
|A.M. Best Rating||A- (Excellent)|
|Phone Number||(877) 253-2323|
Opening Thoughts on the Delaware Life Retirement Stages 7 Fixed Index Annuity
As of March 2017, Delaware Life Insurance Company managed more than 340,000 in-force annuity and life insurance policies. This represents nearly $38 billion in assets under management for the company, as well as more than $13 billion of invested assets.
Delaware Life has more than 40 years of experience in the insurance and annuity arena, and it offers a long list of products that can help its customers to grow and protect wealth. Considered financially stable, the company has an A- (Excellent) rating from A.M. Best Company and a rating of BBB+ (Stable) from Standard & Poor’s.
Due in part to the constant ups and downs of the stock market over the past decade or more, the demand for fixed annuities has substantially increased. One of the biggest reasons behind this is the fact that these financial products can offer the opportunity for growth that is based on the performance of an underlying market index, while also keeping principal safe from market downturns.
Yet, although this could sound like the “best of both worlds”, the reality is that you should still do a fair amount of research on a fixed indexed annuity, just as you would do if you were planning to move forward with any other big ticket purchase.
Before we get into the gritty details, here are some necessary legal disclosures…
This is an independent annuity product review. It is not a recommendation to purchase or to sell an annuity. Delaware Life Insurance Company has not endorsed this review in any way, nor do we receive any type of compensation for providing this review. This annuity review is meant solely to be an independent review at the request of our readers so that they may see our perspective when breaking down the positives and the negatives of this particular annuity. Prior to committing to the purchase of any type of insurance and/or investment vehicle, it is critical that you do your own due diligence, and that you also talk with a properly licensed professional if you have any questions that relate to your specific situation. All of the names, materials, and marks that have been used in compiling this annuity review are the property of their respective owners.
For additional information on how to compare fixed indexed annuities so that you can decide which may be the best one for you, click here in order to obtain our free annuity report.
How Delaware Life Insurance Company Describes the Life Stages 7 Fixed Index Annuity
Delaware Life describes the Retirement Stages 7 fixed index annuity as a product that has unique features and that can “give you conservative income potential, including optional riders that provide guaranteed lifetime income and a return of your premium payments free of surrender charges.”
According to Delaware Life, the Stages 7 annuity is designed to adapt to your needs throughout all of the stages of your life – which means growing your savings while you are still in your working years, protecting your savings from downward moving markets, and then providing you with reliable retirement income when it is needed in the future.
The Retirement Stages 7 offers some other features, too, such as:
- A choice of indexes and crediting methods to help in further “customizing” the annuity to your particular needs
- Options for lifetime income
- Terminal illness and nursing home waivers
- A return of premium rider
- Death benefit
- A bailout endorsement (which can provide you with partial, or even full, withdrawals without a surrender penalty
How a Financial Advisor Might “Pitch” This Annuity
Given that fixed indexed annuities can help to both grow and protect your money, it is likely that if you have been approached by an advisor about it, he or she went into some detail regarding the ability to earn a higher rate of return, while also keeping your funds safe through thick and thin.
And, because one of the biggest fears on the minds of retirees today is that of outliving their income, the fact that this annuity can also give you the option of income for the rest of your life is quite appealing.
What a financial or insurance advisor may not be so quick to point out – especially if they risk losing a commission on the sale of this annuity – is the fact that there can be some charges and fees, as well as some hoops that need to be jumped through in order to take advantage of some of the benefits.
For example, the optional rider that provides guaranteed lifetime income in the future comes at an added costs (which means that you must add more premium to your deposits). Also, a market value adjustment (MVA) may also apply to surrenders that are in excess of the “free” withdrawal amount (which is up to 10% of the contract value each year during the surrender period).
Also, because the Retirement Stages 7 is an indexed annuity, you can also run into caps on your annual return. In other words, this means that even if the underlying index has a stellar performance in a given year, the return that is credited to this annuity will be capped (otherwise known as limited). So during periods of substantial upward growth, you could be left behind in this annuity.
So, even though the opportunity for growth and the safety of principal can be nice to have, the reality is that these features can be found on a long list of other fixed indexed annuities, too – and if you are able to find these benefits, while also gaining access to added features, then it may be well worth taking a look at possible alternatives.
Given that, if you are not 100 percent sure that the Retirement Stage 7 annuity is right for you – and/or you would like to obtain answers to any additional questions that you may have – the please feel free to reach out to us here via our secure contact form.
We realize that annuities can be somewhat confusing, especially those that offer additional riders and complicated features. In fact, while these products can include a maze of financial jargon, not only can they be frustrating for well-educated consumers to understand, but they can also be tricky for trained financial advisors!
If you would like to have any additional information, along with the assurance that you know what it really is that you are purchasing, click here to download our free report on what you need to know prior to purchasing an annuity.
What About the Fees on the Retirement Stages 7 Annuity from Delaware Life?
In addition to the rider fees that may be charged on the Retirement Stages 7 annuity from Delaware Life, there is also a fairly long surrender period of seven years to contend with. This means that if you want to need to withdraw more than 10% of the contract value in the first seven years that you have this annuity, you’ll be charged a fee on that withdrawal. (Plus, if you are under the age of 59 1/2 when you do this, you could also incur an additional 10% IRS early withdrawal penalty).
Retirement Stages 7 Surrender Fee Schedule
|Surrender Charge %||7||6||5||4||3||2||1|
The Annuity Gator’s End Take on the Delaware Life Insurance Company’s Fixed Indexed Annuity
Where it works best:
This annuity may work the best for people who are looking for the following features:
- Safety of principal
- The opportunity for index-linked growth
- Guaranteed lifetime income in retirement
Where it works the worst:
The Retirement Stages 7 Annuity from Delaware Life Insurance Company may not be such an ideal fit for you if you are looking for:
- Access to most or all of your money within the first seven years
- Do not intend to use the lifetime income feature of the annuity
In order to truly get an idea of whether or not a fixed indexed annuity such as the Delaware Life Retirement Stage 7 annuity is right for you, click here so that you can access our free annuity buyer’s report.
There are many key factors that need to be considered as you make your way towards an annuity-buying decision. When you are thinking about making a commitment on any annuity, though, know that these products should always be thought of as long term endeavors.
In the case of the Delaware Life Retirement Stages 7 fixed index annuity, you can certainly be assured that your principal will be safe from market volatility and that you will have access to a lifetime stream of income in retirement – regardless of how long you need it.
But, even given these great benefits, the reality is that the Retirement Stages 7 product could still fall somewhat short – and there may very well be a better, more attractive alternative out there for you.
So, if you still are not 100 percent convinced that this annuity is right for you, or if you would like to discuss with an annuity expert how to best narrow down the right annuity for you, then please feel free to contact us through our secure contact for here.
Have Any More Questions? Notice Any Mistakes?
We understand that this review of the Delaware Life Retirement Stage 7 annuity was a tad bit long winded – and for that, we thank you for sticking with us through it all. But our feeling is that we would much rather give you “too much” information when it comes to reviewing an annuity as versus not enough.
Therefore, if you did find this annuity review to be helpful to you, please feel free to forward it on and to share it with anyone else that you think may also benefit from the review, too.
Also, we realize that the information about annuities can – and often does – change regularly. So, if you happened to notice any mistakes or information that needs to be corrected, please let us know and we will be happy to make the needed updates asap.
Are there any other annuities that you would like to see reviewed?
No problem! Just let us know the name of the annuity (or the annuities, if there is more than just one), and our team of annuity “geeks” will get on the case. So, be sure to check back again often for new – as well as updated – annuity reviews.
The Annuity Gator