Financial Advisors

Who can tell me the pros and cons of the Aviva Indexed Annuities. It may be called income preferred bonus. Awaiting the paperwork.

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I don't sell FIAs but I just looked it up and this is what I learned:6% bonus10 year contract (pretty severe surrender charges)3.25% point to point cap (there are other choices)10% free withdrawals7% commission for age under age 755% commission for ages 76 and up* There's also an income rider (withdrawal benefit) that grows at 6.70% 10 years.

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First of all, Aviva is defunct and all their annuities are now serviced by Athene. What SFA posted above is generally true, but some have income riders accruing at 7.2%. So if they've had the product a while their income base could easily be 50% higher than the surrender value. The caps are probably crap at this point. You'll have a hard time beating the older income rider, though, especially starting over at current surrender value.

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