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Adding an account that is an annuity. Is the insurance company the financial institution?

When adding an account that is an annuity is the insurance company or the financial company that is acting as the agent for the insurance company?

Comments

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi "@tigrpull1"

    An annuity is a contract between you and the insurance company, so the insurance company is the "financial institution" for Quicken purposes.

    Frankx


    Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20  - Windows 10 Home - Ver. 2004
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  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited March 2020
    Where do you logon to view your annuity account and any activity/transactions ?
    That would be the same place that Quicken would probably want the account setup.
    BUT - depending upon the institution - they may not have a connection with Quicken, and any data keeping would be purely manually copying entries from online or paper statements into Quicken.
    LASTLY - if you can't logon and see your account.... then it doesn't matter -
    Quicken 2020 Deluxe - Subscription - Windows 10
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Follow-up...

    In terms of tracking, there may be little to track and probably nothing to download - depending on the type of annuity and its contractual terms, so using brokerage account in Quicken is probably the best choice.

    Frankx


    Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20  - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
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