When buying fixed annuities, there are four big mistakes that you need to avoid:

First of all, do not use all of your liquid savings to buy fixed annuities. With an annuity, your money is usually locked up for a period of time, and if you have to quickly withdraw it in case of an emergency, you’ll likely incur early surrender penalties. You should always have emergency funds liquid and within easy reach. Once you have tangible savings that you can use to cover many types of emergencies, then it is time to start thinking about buying fixed annuities with the surplus.

Another mistake consumers make is not fully investigating the financial stability of the issuing insurance company. Fixed annuities are guaranteed by the claims paying ability of the issuing company. Working with a no fee annuity marketer like AnnuityLibrary.com can help you sift through all of the available offerings to select not only an attractive annuity product, but also one that is issued by a financially strong insurance company. AnnuityLibrary.com works with dozens of high quality insurance companies to find you the best fixed annuities available.

Buying a fixed annuity with too-long a surrender period is also a common mistake annuity buyers make. Fixed annuities have surrender periods ranging from one to fifteen years. If you think you’ll need the money from a fixed annuity before 15 years are up, then it makes sense to buy an annuity with a shorter surrender period. Early surrender fees can eat up much of your interest earnings and make the reason why you bought fixed annuities in the first place pointless.

The last mistake is one of impatience – it’s important to shop around for the best annuity deal. There are literally hundreds of different fixed annuities available, with some really great contract features and interest rates to be had. Wading through all the products, however, can be daunting and time-consuming. The Annuity Specialists at AnnuityLibrary.com can assist you by taking into consideration your situation and by finding you the best fixed annuities from the hundreds available.

The Annuity Specialists can be reached by calling 1-800-998-4056 or by filling out the Request More Information form at http://www.annuitylibrary.com. By consulting with the experts at AnnuityLibrary.com, you can ensure that you make no mistakes when buying fixed annuities.