How to Lower Costs for a Variable Annuity

Variable annuities can be a good way to potentially earn a steady income during your retirement years. At the same time, they can also get very costly. Here are a few ways to lower costs for a variable annuity.

Shop around

If you want to get the lowest cost possible, you are going to need to shop around for the best deal. Every insurance provider is going to have different products to show you and they will all have different prices. When you shop around, you should be able to get the best deal.

Eliminate Riders

With variable annuities, you will have the option to put additional riders on your contract. These additional items can provide extra benefits along the way. However, for each one of these that you have, you are going to increase the costs of your premiums. These riders could include something like inflation protection, or a guaranteed rate of return over the course of a year. If you want to save money, this is one of the best ways to lower your costs.


When you shop around, you are going to have several quotes from insurance companies. You can use this to your advantage and negotiate with your insurance agent. If they want your business badly enough, they may be able to adjust the costs.

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