What Does an Annuity Advisor Do? (with pictures)

Mary McMahon
Mary McMahon
An annuity advisor helps investors make appropriate financial decisions.
An annuity advisor helps investors make appropriate financial decisions.

An annuity advisor helps investors make appropriate financial decisions. Some investors are comfortable performing research and analysis on their own, and are confident that they can choose the right annuity products. Others prefer to turn to an advisor to get information and assistance that will help them select the most sound investment. Working with an advisor can also help people save money in some cases, as it may provide access to options like financial products that are not sold to members of the general public.

An annuity advisor must have a license to sell insurance and related products.
An annuity advisor must have a license to sell insurance and related products.

When clients approach an annuity advisor, the initial meeting can include a discussion about the financial circumstances and the client’s financial goals. People who have retirement, savings, and other accounts can talk about their contents and their overall financial goals. They may also want to discuss any other insurance products they are already carrying. This can help the annuity advisor determine which products might be most useful and cost-effective.

It may be possible to generate a list of possible products with information about them. Clients can ask for specific questions about yields, payouts, and terms to get a better idea of the costs and benefits. If package deals or other options are available, these may be factored into the benefits as well. The length of time terms may remain valid is also important, as it helps clients decide when they need to commit and buy a given annuity product.

As economic conditions change, clients may need to make changes to their financial planning. This can be the result of changes within a family or business that might necessitate some shuffling, or larger economic issues. For example, a new baby in the family might lead people to consider some other insurance options to provide for the baby in the event of a disaster, or a fall in the stock market might devalue a retirement portfolio. The annuity advisor can help clients weather these changes and make good decisions rather than hasty ones that might be regretted in the future.

To become an annuity advisor, it may be necessary to have a license to sell insurance and related products. This requirement can vary depending on where someone works. Licensure involves taking an examination to demonstrate a thorough understanding of the laws surrounding insurance sales. People can also join professional organizations to assure their customers of a high quality of service and may use trade groups for professional development, like refresher courses and sales workshops.

Mary McMahon
Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.

Mary McMahon
Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.

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    • An annuity advisor helps investors make appropriate financial decisions.
      An annuity advisor helps investors make appropriate financial decisions.
    • An annuity advisor must have a license to sell insurance and related products.
      An annuity advisor must have a license to sell insurance and related products.