Most people choose an annuity IRA investment for one of two reasons. First, they want to save for their retirement years and second, they want to take advantage of the benefits of investing their money while watching it grow tax deferred. On the other hand, many future retirees are faced with a nagging question – what if I don’t have enough money saved and outlive my retirement savings?

One way the financial industry has chosen to address the problem of outliving your savings is by creating annuities. An annuity is a product you purchase which, in return, provides you with a number of regular payments. The details of when these payments begin, how long they continue, and how much they will be are all spelled out in the terms of the annuity. Some annuity IRAs may even offer a death benefit, similar to a life insurance policy.

You can get the best of both words – IRAs and annuities – by choosing an annuity IRA. But how do you choose an account provider?  Annuity IRAs are most frequently offered by insurance companies.  This makes sense if you think about it, since annuities were originally a produce offered by life insurance companies alongside traditional whole and term life insurance products.  In addition to using traditional means of assessing the financial stability and performance of a life insurance company, the following are some things to consider when choosing a provider for any type of retirement plan.

First, compare the annuity IRA’s investment options. Diverse options can help you weather economic changes more easily. The old saying about putting all your eggs in one basket is still true today.  The investment options offered by a potential provider should be diverse and in keeping with your individual preferences regarding investing.

You should also consider your own personal tolerance for risk. There’s nothing wrong with choosing low risk investments or high risk investments, or choosing a mix of the two. It all boils down to how much money you hope to earn, and how much you are willing to risk for that potential with your IRA annuity. It’s very much a balancing act – one that’s different for every individual. How long you have before you reach retirement age is very much a factor in this consideration for most investors.

Next, look at how well a potential IRA annuity provider’s investments are performing. After all, it doesn’t matter if the portfolio looks perfect if it isn’t earning any money.

Also, you should take a look at the fees charged by each IRA rollover annuity provider. A small difference may not seem like much now, but do the math – small bits add up over time, especially if you have a number of years to go before retiring. Each provider is required to disclose its fees, but it’s up to you to crunch the numbers and see what those fees really mean.

Last, but not least, consider customer service. Does the provider have local offices if and when you need face to face help? How about a website with robust functionality? Or, what about the ability to make changes via telephone?

Choosing an Annuity IRA rollover account provider will take some time, but it is time well spent. After all, it’s your future you’re planning!