In 2018 the Annex Wealth Management Financial Planning team analyzed over 280 annuities. Often times, the folks they worked with weren’t sure what their annuities did or how they even operated.

So we asked Axiom readers: How about you? Do you own an annuity? Are you confident on how it works, and what you’re paying for it?

Last week’s Annuity Week poll asked Axiom readers if they owned an annuity and understood how it worked.
As expected, Axiom respondents tend to be more knowledgeable than the general population. Nearly sixty percent said they owned an annuity – and a majority said they understood how an annuity operates.

Unfortunately – the majority was thin. 48 percent said they didn’t know how their annuity operates.
Annuities can be tough to understand, but if you own one, you owe it to yourself to have a clear understanding of what you’ve got and how – or if – it’s working for you.