Is the MasterDex Annuity from Allianz Insurance company of NY a good retirement investment to buy ?
My wife is 62 years old and has just inherited a modest amount of money. We are ‘ comfortable ‘ financially and our Financial Planner has suggested that she buy a MasterDex Annuity from Allianz Life Insurance Company of NY. He explained that it is a fixed-index annuity adding that they are a Geman company. He further advised that it pays an additional 3% the first year if you invest a minumum of 100K adding that you can annutize within 6-7 years without anyshort surrender penalty fee.
I have read some negative reviews re the MasterDex Annuity from Alliaz ( including that it pays one of the highest sales commissions ). I don’t mind buyingan Annuity that pays a high sales commision as long as I get a good rate too.
I have also read that ‘ secondary market ‘ annuities are a bette retirement investment paying as much as 7-7.5% interest ?
Is the MasterDex Annuity a good annuity to buy or are there beter annuities such as ‘ secondary market ‘ annuities that are a better investment ?
If so, which annuities are better ?
What are the ‘pros’ and ‘cons’ of buyinga MasterDex Annuity from Allianz ?
Our Financial Planner has also sugested building a CD ldder ‘ in additinto this annuity ?
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