Ask Mr. Annuity

The Fisher Agency

Danny Fisher, CLU, ChFC
President     1-800-822-1450

Financial Advisors Since 1975

13140 Coit Road, Suite 102  Dallas, TX 75240-5797

Home PageTop 10 PageForms 

Table of Contents

  1. What happens if rates go up or down?
  2. How much access do I have to my money?
  3. If I find a better annuity later, can I switch without paying income taxes?
  4. Are there sales fees or other charges?
  5. Is my interest reportable to the IRS to determine if my Social Security benefits are taxed?

Have a question of your own.  Then ask Mr. Annuity.

Please limit questions on Fixed Annuities.  Also, we are limiting our responses for Texas residents. For non-Texas residents please consult a  local financial advisor or contact the insurance company directly.


Your Email Address: 
Your Name:
             Your DOB:
Your Address:         
City, State Zip:         Phone

Back to Top

What happens if rates go up or down?

If you believe rates will rise, we can recommend an annuity that has a "floating" rate: that is adjusted quarterly or annually.  If you believe rates will go down, we can also recommend an annuity that has a "fixed" rate for a defined period.  It's your choice.

Back to Top

How much access do I have to my money?

Most annuities allow for penalty-free withdrawals of a portion of your annuity balance.  Otherwise, early withdrawal penalties will apply.  Your money can also be paid to you monthly over a fixed period, such as 5 or 10 years.

Back to Top

If I find a better annuity later, can I switch without paying income taxes?

If done properly, you may make a tax-free exchange under IRS Code Section 1035(a).  Call our office for details. 

Back to Top

Are there sales fees or other charges?

Most of the annuities we recommend have NO fees or charges of any type.  Those that do are openly explained.  If you prefer, you can chose another annuity.

Back to Top

Is my interest reportable to the IRS to determine if my Social Security benefits are taxed?

Your interest earnings are not reportable for any purpose, unless withdrawn.  Withdrawals are treated as ordinary income based on Last In, First Out accounting.

Back to Top

Revised: February 16, 2011 .