Annuities in Glastonbury, Connecticut — Complete 2025 Guide

What Are Annuities? (Glastonbury Context)

An annuity is a contract between you and an insurance company. You make a lump-sum payment or a series of payments, and in return the insurer agrees to provide you with regular disbursements beginning either immediately or at some point in the future. At its core, an annuity solves one of the most pressing problems in retirement planning: the risk of outliving your money.

For the roughly 6,200 residents of Glastonbury who are 65 or older, that risk is very real. Connecticut’s cost of living index sits at 120 — 20 percent above the national average — which means every dollar of guaranteed income carries more weight here than it does in most parts of the country. Groceries, utilities, property taxes on homes with a median value of around $425,000, and ongoing healthcare costs through systems like Hartford HealthCare and the Eastern Connecticut Health Network all erode purchasing power faster than they would in a lower-cost state.

Annuities matter in Glastonbury for a second reason: Connecticut does not exempt Social Security income from state income tax for higher earners, and the state’s income tax rates are graduated up to 6.99 percent. The tax-deferred growth inside a deferred annuity can therefore be a meaningful planning tool, allowing gains to compound without generating a current-year Connecticut or federal income tax liability until withdrawals begin.

A licensed annuity specialist working in Glastonbury understands these local cost pressures. He or she can help you determine whether an annuity makes sense alongside your other retirement assets — pension, 401(k), IRA, Social Security — and which contract structure fits your timeline. This guide walks through every major product type, what you should expect to pay (and earn), Connecticut’s regulatory environment, and the specific questions Glastonbury residents ask most often.

Types of Annuities Available in Glastonbury

Not every annuity is designed for the same purpose. Some are built primarily for accumulation — growing a sum of money on a tax-deferred basis. Others are built primarily for distribution — converting a lump sum into a dependable income stream. Understanding the difference is the first step toward choosing a product that actually fits your situation.

Fixed Annuities

A fixed annuity credits a guaranteed interest rate for a specified period, similar to a bank CD but with tax deferral and typically higher declared rates. The insurer bears all investment risk. Fixed annuities are straightforward, low-cost products appropriate for conservative savers who want predictability. Surrender periods typically run three to ten years, during which early withdrawals beyond the free-withdrawal provision (usually 10 percent per year) trigger a declining surrender charge.

Multi-Year Guaranteed Annuities (MYGA)

An MYGA is a specific type of fixed annuity that locks in a declared interest rate for the entire contract term — commonly two to seven years — with no annual rate resets. For Glastonbury residents rolling over a maturing CD or a 401(k) distribution, a MYGA can serve as a straightforward, tax-deferred alternative with a known, guaranteed yield. As of 2025, competitive MYGA rates for a five-year term from A-rated carriers have generally ranged from roughly 4 to 5.5 percent annually, though rates change frequently and vary by carrier and contract size.

Fixed Indexed Annuities (FIA)

A fixed indexed annuity credits interest based on the performance of a market index — most commonly the S&P 500 — subject to a participation rate, cap rate, or spread. If the index rises, you receive a portion of that gain. If the index falls, your account value does not decrease; you simply receive zero interest for that term. This “floor of zero” makes FIAs appealing to near-retirees and retirees who want some upside potential without direct market exposure. FIAs are typically more complex than fixed annuities and require careful review of the indexing method and any optional living-benefit riders.

Variable Annuities

A variable annuity invests your premium in subaccounts that function similarly to mutual funds. Your account value fluctuates with market performance, meaning you can earn more in strong markets but can also lose principal. Variable annuities are generally the most expensive annuity type due to mortality and expense charges, administrative fees, and optional rider fees. They can still serve a purpose — particularly for younger accumulators who want tax deferral and access to living-benefit guarantees — but they require careful cost analysis.

Single Premium Immediate Annuities (SPIA)

An SPIA converts a lump sum into a stream of income payments that begin almost immediately — typically within one to twelve months of purchase. The payment amount is calculated based on your age, the premium amount, the payout option you choose (life only, joint life, period certain, or combinations), and prevailing interest rates at the time of purchase. SPIAs are irreversible in most cases, so they require careful thought before committing.

Deferred Income Annuities (DIA)

Sometimes called “longevity annuities,” a DIA allows you to purchase guaranteed income today that does not begin paying out until a future date — often age 80 or 85. Because the insurer holds the premium for many years before payments begin, the income payout per dollar invested can be substantially higher than an SPIA. A DIA is particularly well-suited for Glastonbury retirees who want to hedge against the risk of living well into their late eighties or nineties, covering ongoing costs at Hartford Hospital or with Hartford HealthCare specialists, without spending down all of their liquid assets in their seventies.

Annuity Product Comparison Table

How Much Does an Annuity Cost in Glastonbury?

The word “cost” means different things depending on which type of annuity you are evaluating. Unlike health insurance, where you pay a monthly premium, most deferred annuities do not have an explicit annual premium. Instead, costs are embedded in the contract structure through surrender charges, insurance charges, and rider fees. Understanding these is essential before signing anything.

Surrender Charges

Surrender charges apply if you withdraw more than the free-withdrawal amount during the surrender period. A typical schedule might start at 8 or 9 percent in year one and decline by roughly one percentage point per year until it reaches zero. For example, if you have a $200,000 fixed annuity in year two of a ten-year surrender period and need to withdraw the full balance, you could face a surrender charge of $14,000 to $16,000 or more. This is why matching the surrender period to your actual liquidity needs is critical.

Free-Withdrawal Provisions

Most deferred annuities allow you to withdraw up to 10 percent of the account value per year without penalty after the first contract year. Some contracts also waive surrender charges entirely if you are confined to a nursing facility or diagnosed with a terminal illness — provisions that carry added weight for Glastonbury residents factoring in the cost of care near Hartford Hospital or Manchester Memorial Hospital.

Variable Annuity Costs

Variable annuities carry the most visible fee structure. Mortality and expense (M&E) charges typically range from 0.5 to 1.5 percent annually. Subaccount investment management fees add another 0.5 to 1.5 percent. Optional living-benefit riders — the guaranteed lifetime withdrawal benefit (GLWB) being the most common — add another 0.5 to 1.25 percent per year. A fully loaded variable annuity with a GLWB rider could carry total annual costs of 2 to 3.5 percent, which is a significant drag on performance and needs to be weighed against the value of the guaranteed income floor.

FIA Costs

Fixed indexed annuities without optional riders typically have no explicit annual fee. The insurer’s profit margin is built into the cap rates and participation rates rather than charged directly. When you add a GLWB or GMIB rider to an FIA, rider fees commonly run between 0.75 and 1.5 percent of the benefit base annually. Always compare the cost of the rider to the income guarantee it provides.

Cost in the Glastonbury Context

With Glastonbury’s cost of living index at 120 and a median home price of $425,000, many residents carry significant net worth tied up in real estate and retirement accounts. A retiree converting a $300,000 IRA distribution into an annuity is making a major financial decision. At that size, even a difference of 0.5 percent in annual fees compounds to tens of thousands of dollars over a 20-year retirement. Working with a local licensed broker who can shop the market across multiple carriers — rather than a captive agent representing a single company — is therefore particularly valuable in a high-cost community like Glastonbury.

Premium Minimums

Most annuity carriers set minimum premium requirements. MYGA and fixed annuity minimums commonly start at $5,000 to $25,000. Variable annuities often require $10,000 to $25,000. SPIAs and DIAs typically require $25,000 or more to generate a meaningful monthly income. These minimums are carrier-specific and change periodically; your broker can confirm current requirements at the time of application.

Connecticut-Specific Rules for Annuities

Connecticut has a robust regulatory framework governing the sale of annuities. Understanding the key rules protects you as a consumer and helps you evaluate whether the annuity being offered to you meets the state’s suitability and disclosure standards.

Connecticut Insurance Department (CID)

All annuity products sold in Connecticut must be approved by the Connecticut Insurance Department (ct.gov/cid). The CID licenses agents, approves products, and investigates consumer complaints. Before purchasing any annuity, you can verify that your agent holds a valid Connecticut license and that the carrier is authorized to do business in the state. Joseph Antonucci holds CT License #21658409, issued through the CID.

Suitability and Best Interest Standards

Connecticut has adopted the NAIC Suitability in Annuity Transactions Model Regulation, which aligns closely with the SEC’s Regulation Best Interest framework for securities. This means an agent recommending an annuity to a Connecticut consumer must act in that consumer’s best interest, document the basis for the recommendation, and disclose any conflicts of interest or compensation. You are entitled to ask your agent exactly what compensation — including commissions and bonuses — they receive from the sale.

Free Look Period

Connecticut requires a free look period for annuity contracts — typically 10 to 30 days from the date you receive the contract (the specific length varies by product and carrier, with longer free look periods often required for replacements). During this window, you can return the contract for a full refund of your premium without penalty. Do not let this window pass without thoroughly reviewing the contract terms.

CT Life & Health Insurance Guaranty Association

This is one of the most important consumer protections available to Connecticut annuity buyers. The CT Life & Health Insurance Guaranty Association provides a safety net if an admitted insurance carrier becomes insolvent. For annuities, the association covers up to $250,000 in present value of annuity benefits per insured, per insurer. This means that if you purchase a $250,000 annuity from a Connecticut-admitted insurer and that company fails, the Guaranty Association steps in to protect your contract value up to that limit. If you have more than $250,000 in annuity value, spreading contracts across multiple high-rated insurers is a common strategy to maximize coverage.

Tax Deferral and Connecticut Income Tax

Annuity growth accumulates on a tax-deferred basis federally and at the Connecticut state level. However, annuity distributions are taxed as ordinary income when withdrawn — at both the federal level and Connecticut’s graduated state income tax rates (ranging from 2 percent to 6.99 percent as of 2025, depending on filing status and income level). Connecticut does not apply a penalty tax on annuity withdrawals beyond the federal 10 percent early withdrawal penalty for distributions before age 59½. If you are considering a 1035 exchange — moving funds from one annuity contract to another — this can be done tax-free if structured correctly, preserving your tax-deferred status.

Replacement Regulations

If an agent is recommending that you replace an existing annuity with a new one, Connecticut requires specific replacement disclosures and a comparison of costs and benefits. Be cautious of any agent who recommends replacing an annuity that is still inside its surrender period without a compelling, documented reason. Surrendering early to buy a new contract primarily resets your surrender period and benefits the agent, not you.

Glastonbury’s Healthcare Landscape and Its Impact on Your Annuity Planning

Healthcare costs are one of the dominant financial variables in retirement planning, and Glastonbury residents have access to a strong regional healthcare infrastructure. Understanding that landscape helps you size the income guarantee you need from an annuity.

Hospital Access

Hartford Hospital, one of the largest and most comprehensive medical centers in New England, is approximately 15 minutes from central Glastonbury. It offers advanced cardiac care, oncology, orthopedics, and a nationally recognized transplant program. Manchester Memorial Hospital, part of the Eastern Connecticut Health Network, is a community hospital providing general acute care and emergency services just north of Glastonbury. Having two strong hospital systems within a short drive is an asset, but even well-insured patients face meaningful out-of-pocket costs for inpatient stays, specialty care, and post-acute rehabilitation.

Healthcare Networks

Hartford HealthCare operates a sprawling network of primary care physicians, specialists, and outpatient facilities throughout the Greater Hartford region, including locations easily accessible from Glastonbury Center and the Buckingham and Naubuc neighborhoods. Eastern Connecticut Health Network similarly provides primary and specialty care across eastern Hartford County. Many Glastonbury retirees maintain care relationships with physicians in both systems, which can mean higher out-of-pocket costs if you move between networks or choose out-of-network specialists.

Pharmacy Access

Glastonbury residents have convenient access to CVS Pharmacy, Walgreens, and Stop & Shop Pharmacy for prescription medications. Prescription drug costs for retirees managing chronic conditions — which become more common with age — represent a significant and often underestimated line item in retirement budgets. A guaranteed annuity income stream can help ensure that medication costs are covered regardless of what happens to investment returns in any given year.

Sizing Your Income Need

Fidelity Investments has historically estimated that a 65-year-old couple retiring today may need $300,000 or more in savings specifically to cover healthcare expenses in retirement — and that figure does not account for long-term care. In Glastonbury, with a cost of living index of 120, that estimate may be conservative. When you sit down to evaluate an annuity, consider your anticipated Medicare premiums (Part B, Part D, and any Medigap supplement), your realistic prescription drug costs at local pharmacies, and a reasonable estimate for potential inpatient or specialist care at Hartford Hospital or Manchester Memorial Hospital. An annuity that guarantees $1,500 to $2,500 per month in income — stacked on top of Social Security — can substantially reduce the financial anxiety of unpredictable medical expenses.

How to Get an Annuity in Glastonbury: Step-by-Step

Buying an annuity is not like purchasing a product off a shelf. It is a regulated financial transaction that requires a licensed agent, a formal application process, and a suitability review. Here is what the process typically looks like from start to finish.

1. Initial Consultation (Week 1)
   Schedule a no-obligation conversation with a licensed Connecticut annuity specialist. Come prepared to discuss your current assets, income sources, monthly expenses, health status, risk tolerance, and retirement timeline. This meeting is exploratory — no commitment is required.
2. Gather Your Financial Documents (Week 1–2)
   You will need recent statements for any accounts you are considering moving into an annuity (401(k), IRA, brokerage, CDs), a copy of your most recent Social Security statement, and, if you are doing a 1035 exchange, your existing annuity contract and most recent annual statement. Have your driver’s license or government-issued ID ready.
3. Needs Analysis and Product Comparison (Week 2)
   Your broker will prepare an analysis comparing specific products from multiple carriers — including illustrated income projections, fee disclosures, and carrier financial strength ratings. Review this carefully. Ask what the agent is being paid, and why each product is being recommended over alternatives.
4. Application Submission (Week 2–3)
   Once you select a product, the agent completes a suitability questionnaire and submits the formal application along with your premium transfer (either a check, wire transfer, or 1035 exchange paperwork for existing annuities or IRAs).
5. Carrier Review and Issuance (Week 3–6)
   The insurance company reviews the application for suitability and accuracy, then issues the contract. For a 1035 exchange or IRA transfer, the process may take slightly longer — typically three to six weeks — depending on how quickly the surrendering institution processes the paperwork.
6. Free Look Period (Immediately Upon Contract Receipt)
   When you receive the contract, your free look period begins. Read the entire contract, verify that all figures match what was illustrated, and confirm the surrender schedule, free-withdrawal provisions, and any rider terms. If anything is unclear, contact your agent or the carrier’s policyholder services line before the free look window closes.
7. Ongoing Review (Annual)
   Annuities are long-term contracts, but your financial situation can change. Schedule an annual review with your broker to confirm the product is still serving its intended purpose and to evaluate whether additional contributions or adjustments to your retirement income plan are warranted.

Comparing Annuity Providers Available in Glastonbury

Connecticut residents purchasing annuities have access to products from dozens of national carriers. The following is a representative overview of well-known companies that offer annuity products in Connecticut. This is not an exhaustive list, and availability, rates, and product designs change frequently. All carrier ratings reflect publicly available AM Best financial strength ratings as of early 2025 and should be independently verified.

Carrier financial strength matters because an annuity is a long-term promise. The issuing company must remain solvent and able to pay claims 20 or 30 years from now. While the CT Life & Health Insurance Guaranty Association provides up to $250,000 in protection, purchasing from carriers with strong financial strength ratings is the first line of defense. An independent broker can access products from all of the carriers listed above — and many others — which is a significant advantage over working with an agent who represents a single company.

Living Benefits: GLWB, GMIB, and GMAB Explained

Optional living-benefit riders are among the most frequently misunderstood components of annuity contracts. They are worth explaining carefully because they are widely marketed and carry both real value and real costs.

Guaranteed Lifetime Withdrawal Benefit (GLWB)

A GLWB guarantees that you can withdraw a specified percentage of a “benefit base” each year for life, regardless of actual account performance. The benefit base is often guaranteed to grow by a set percentage annually during a deferral period, even if the actual account value does not. For example, a contract might guarantee a 5 percent annual step-up on the benefit base for ten years, then allow you to withdraw 5 percent of that benefit base per year for life. GLWBs do not guarantee your account value — only the income withdrawals. The actual account value may still decline and could eventually go to zero, after which the insurer continues the income payments from its own general account.

Guaranteed Minimum Income Benefit (GMIB)

A GMIB is a less common rider that guarantees a minimum annuitization value, typically after a waiting period. It protects against the scenario where poor investment performance reduces the account value to a point where annuitization on actual value would produce inadequate income. GMIBs are more commonly found on variable annuities.

Guaranteed Minimum Accumulation Benefit (GMAB)

A GMAB guarantees that your account value will be at least equal to a specified amount — often your original premium — after a defined holding period, regardless of investment performance. This is essentially principal protection with a time horizon. If your account exceeds the guarantee, you keep the higher value.

Each of these riders carries an annual fee, typically charged as a percentage of the benefit base. Before adding a rider, ask your broker to illustrate the break-even point — the age at which you would need to live in order for the rider cost to be worth paying, compared to a contract without the rider.

Glastonbury Neighborhoods and ZIP Code Coverage

We Find Your Insurance serves all Glastonbury residents in ZIP code 06033, which encompasses the town’s diverse neighborhoods and communities.

Glastonbury Center

The commercial and civic heart of town, Glastonbury Center includes a mix of longtime residents and newer arrivals drawn by the town’s strong school system and easy access to Hartford via Route 2. Many working professionals and pre-retirees in this area are beginning to think seriously about transitioning from accumulation to income-focused financial strategies.

South Glastonbury

South Glastonbury retains a more rural character, with orchards, farms, and historic properties. Residents here — including many who have owned their properties for decades and carry substantial equity in homes valued well above the $425,000 median — often have complex financial pictures that benefit from a thorough annuity needs analysis.

Buckingham

The Buckingham area includes established residential neighborhoods with a high concentration of retirees and near-retirees. The proximity to South Glastonbury and Rocky Hill makes this area particularly well-served by local healthcare infrastructure, including easy access to Hartford HealthCare providers.

Naubuc

Naubuc sits closer to the Connecticut River and the East Hartford border, offering residents convenient access to both Manchester Memorial Hospital to the north and Hartford Hospital to the west. For residents in this area managing ongoing healthcare costs, a predictable annuity income stream can be especially valuable.

Nearby Communities Also Served

While this guide focuses on Glastonbury, We Find Your Insurance also assists residents in the surrounding communities of East Hartford, Manchester, Wethersfield, and Rocky Hill with annuity consultations and placement. If you live in one of these neighboring towns and found this guide useful, the same licensed expertise applies to your situation.

1035 Exchanges: Moving an Existing Annuity or Life Insurance Policy

If you already own an annuity — particularly one purchased many years ago that may now carry high fees, low credited rates, or features you no longer need — a 1035 exchange allows you to transfer the value to a new annuity contract on a tax-free basis. Under Section 1035 of the Internal Revenue Code, the exchange must be completed as a direct carrier-to-carrier transfer. You cannot take a distribution and then deposit it into a new annuity; if the funds pass through your hands, the transaction becomes a taxable event.

Before executing a 1035 exchange, confirm that you are past the surrender period on your existing contract, or that any remaining surrender charges are offset by the improved terms of the new product. Also review whether your existing contract has a substantial cost basis or valuable living-benefit guarantees that would be lost in the exchange. These are the kinds of nuanced trade-offs that a licensed specialist should analyze in writing before you proceed.

A 1035 exchange can also be used to move value from a life insurance policy into an annuity — a move that may make sense later in retirement when the death benefit of a permanent life policy is no longer the priority and guaranteed income has become more important.

Frequently Asked Questions — Annuities in Glastonbury, Connecticut

What is the difference between a fixed annuity and a fixed indexed annuity?

A fixed annuity credits a declared interest rate that the insurer sets, while a fixed indexed annuity credits interest based on the performance of a market index subject to caps or participation rates. Both types protect your principal from market loss, but a fixed annuity offers fully predictable crediting while an FIA offers the possibility of higher interest in strong market years — with zero as the floor in negative years. For a Glastonbury retiree who wants certainty above all else, a fixed annuity or MYGA is simpler. For someone who wants some participation in market gains without downside exposure, an FIA may be a better fit.

Is my annuity protected if the insurance company goes out of business?

Yes, up to statutory limits. The CT Life & Health Insurance Guaranty Association covers up to $250,000 in annuity present value per insured, per insurer, for contracts issued by Connecticut-admitted carriers. This protection is automatic — you do not need to apply for it. If you hold more than $250,000 in annuity value, structuring contracts across multiple highly-rated carriers is a common approach to maximize guaranty association coverage. Purchasing from carriers with strong AM Best ratings (A or better) is an additional layer of protection.

What happens to my annuity when I die?

The answer depends on the death benefit provisions in your specific contract and the payout option you have selected. Most deferred annuities offer at least a return-of-premium death benefit, meaning your named beneficiary receives at least the original premium you paid, even if the account value has declined. Enhanced death benefits, which pay out the greater of account value or a stepped-up amount, are available as optional riders on many products. For SPIAs and DIAs, selecting a “period certain” or “joint and survivor” payout option can protect your spouse or beneficiaries if you die before receiving the full economic value of the contract.

Can I access my money if I have an emergency?

Yes, within limits. Most deferred annuities allow you to withdraw up to 10 percent of the account value per year without surrender charges after the first contract year. Amounts above this threshold during the surrender period will trigger a declining surrender charge. Many contracts also include waiver provisions that allow penalty-free withdrawals if you are confined to a nursing facility for a minimum period (often 30 to 90 days) or diagnosed with a terminal illness — both important features given access to care at Hartford Hospital and other Hartford HealthCare facilities. Carefully match your annuity’s liquidity provisions to your realistic needs before purchase.

How are annuity withdrawals taxed in Connecticut?

Annuity withdrawals are taxed as ordinary income at both the federal and Connecticut state levels. Connecticut taxes income at graduated rates ranging from 2 percent to 6.99 percent depending on your filing status and total income. Withdrawals from non-qualified (after-tax) annuities follow the LIFO (last in, first out) rule for tax purposes — earnings come out first and are taxed as ordinary income, while the return of your after-tax premium (your cost basis) comes out tax-free. Withdrawals from qualified annuities (funded with pre-tax IRA or 401(k) funds) are fully taxable as ordinary income. Withdrawals before age 59½ also trigger a 10 percent federal early withdrawal penalty in most cases.

What is a surrender charge and how long does it last?

A surrender charge is a fee assessed by the insurance company if you withdraw more than the free-withdrawal amount during a specified surrender period. Surrender periods typically run from three to ten years from the contract issue date, and the charge percentage usually declines each year. For example, a 10-year surrender schedule might start at 10 percent in year one, declining by one percentage point per year until it reaches zero in year eleven. After the surrender period ends, you can typically access the full account value without penalty. Always match the surrender period to your actual liquidity timeline — do not lock funds into a ten-year surrender period if you have a reasonable chance of needing them in year five.

What is a GLWB rider and is it worth the cost?

A Guaranteed Lifetime Withdrawal Benefit rider is an optional feature — available on many FIAs and variable annuities — that guarantees you can take a specified annual withdrawal from a “benefit base” for as long as you live, even if the actual account value is depleted. The rider is worth the cost if you live long enough for the cumulative guaranteed income to exceed what you would have received without the rider, net of the annual fee charged. For a 65-year-old Glastonbury resident with a reasonable life expectancy, the break-even point is typically somewhere in the mid- to late-seventies. A broker should illustrate this comparison explicitly using the actual contract terms before you decide whether to add the rider.

Can I use an annuity inside my IRA?

Yes, annuities can be purchased inside an Individual Retirement Account (IRA), in which case the annuity is a “qualified” contract. However, placing a tax-deferred annuity inside an already tax-deferred IRA means you are paying for the annuity’s tax-deferral feature when you are not gaining any additional tax benefit from it — since the IRA already provides tax deferral. In most cases, the primary reason to use an annuity inside an IRA is not for tax deferral, but for the guaranteed income or principal-protection features the annuity provides. This distinction should be part of any suitability discussion. Non-qualified annuities (funded with after-tax dollars) are placed outside of an IRA and take full advantage of the annuity’s tax-deferral benefit.

How do I know if an annuity is right for me?

An annuity is generally appropriate if you have retirement assets that you want to protect from market loss, you want a predictable income stream you cannot outlive, and you do not need immediate access to the premium you are committing. Annuities are typically not appropriate for your entire liquid net worth, as they restrict access to funds during the surrender period. A commonly cited guideline is that annuities work best as a complement to other retirement income sources — not as a complete replacement for diversified investments. A licensed broker should conduct a full needs analysis, including a review of your Social Security benefits, any pension income, existing retirement accounts, and estimated expenses — including healthcare costs relevant to your situation in Glastonbury — before recommending any specific product.

What documents do I need to apply for an annuity?

You will typically need a valid government-issued photo ID, your Social Security number, a recent statement for the account you are funding the annuity with (IRA, 401(k), brokerage, or bank account), and — for a 1035 exchange — your existing annuity or life insurance contract number and the name of the current insurer. If you are naming a trust as a beneficiary, have your trust documents available. The application process itself is handled by your licensed broker, who will complete the required suitability questionnaire and transmit the paperwork to the carrier on your behalf.

Ready to explore whether an annuity is the right fit for your retirement plan in Glastonbury? Joseph Antonucci at We Find Your Insurance is a Connecticut-licensed insurance broker (CT License #21658409) who has been helping Hartford County residents navigate annuity decisions since 2019. He works with multiple carriers — not just one — so his recommendations are driven by your needs, not by a quota. Call (860) 351-0514 for a no-obligation consultation. There is no cost to get a personalized analysis, compare product options side by side, and ask every question you need answered before making any commitment.