Important consumer shopping tips for Annuities:

1. Always review the annuity contract before you decide to buy an annuity.
2. Don't let an insurance agent get you to sign a form stating you refuse to disclose this information.
3. To find out if an annuity is right for you, think about what your financial goals are for the future.
4. You should understand the long-term nature of your purchase.
5. Compare information for similar contracts from several companies.
6. Ask your insurance agent and/or the company for an explanation of anything you don't understand.
7. Remember that the quality of service you can expect from the company and the agent should be an important factor in your decision.
8. Check with the Department of Insurance to verify that the company and agent are licensed. In order to sell insurance in your state, companies and agents must be licensed.
9. Check the annuity provider's credit rating with such independent agencies such as Standard & Poor's, A.M. Best Co. or Moody's Investors Services.
10. The proof is in the paperwork. As you complete your research and decide to purchase a particular annuity policy, it's important to keep detailed records.