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Important Questions You Should Ask Your Advisor About Annuities

1. Can I lose money?
No. Immediate annuities, fixed annuities, and the insurance company that issues the contract guarantees fixed index annuities. Your principal is protected by the claims-paying ability of that company. Of course, excess withdrawals may result in surrender charges and if you are under 59½ and make withdrawals, you are subject to additional tax penalties.

2. Will I pay a lot in fees?
No. Unlike variable annuities, which was an investment feature (and in our experience have fees that can get as high as 8 percent), the annuities we promote either do not have any fees for the base contract, or have low fees for additional riders you may choose, such as inflation protection, lifetime income, spousal continuation, death benefit, etc. Those fees are typically less than 1 percent each.

3. Will my cash flow fluctuate?
No. Fluctuating means your income can swing up and down from month to month, or year to year, depending on how you have it setup. With the annuity strategies we recommend, your income can only go up, to provide a hedge against inflation and potentially increase due to index-linked interest rates. Income can ride every year you wait before turning in income. Your cash flow will not decrease, that you can be assured of.

4. Will we be able to keep our money if one of us becomes ill or passes away?
Yes. There are many annuities or additional riders that have waivers for terminally ill or premature death situations. There are annuities that may provide double or even triple your income for qualifying healthcare expenses. Many annuities or additional riders offer death benefit provisions as well. A well-researched annuity strategy designed for your specific needs and goals is the best way to go.

5. Can these annuities provide me with income for the rest of my life?
Yes. With a fixed index annuity, you can select the option to purchase a lifetime income contract. Some are structured that way; some add this feature through a rider for an additional cost.

6. Does my income have the potential to grow to keep up with inflation?
Yes. This is something people don’t often think about, but we do. In our annuity strategies, we leverage annuity features and riders to help ensure our clients’ income grows as the cost of living increases. We want you to retain the purchasing power of your money.

7. Can I directly name my beneficiaries and bypass probate?
Yes. You can directly name individual beneficiaries on any annuity contract and completely bypass the probate process (however some earnings may be taxable, such as IRAs and qualified money will certainly remain taxable). But, the transactions (death benefit) remain private and stay out of the public eye.

8. Will I completely lose access to all my money?
No. You do not have to annuitize. You want to make sure you select the right annuity type and features for you r own unique situation, but many offer up to a 10 percent annual withdrawal without penalty (as long as you're over 59½ - otherwise you incur a tax penalty) and you do have the ability to get more (or all) but you'll pay a surrender charge. (Please note that the annuity you purchase will probably have a penalty period for the first three to 15 years, with a sequentially decreasing percent charged against your withdrawal funds for excess withdrawals or full surrender of the contract. So you should not purchase an annuity with money you think you may need in the near term.)

9. Can I get even more income by “laddering” annuities?
Yes. Oftentimes, with well-planned-out annuity strategies and payout management techniques, like we' re known for, using more than one annuity for income - engaged at specific points in time - can net most people with higher monthly and annual payouts.

10. Is it really possibly for me to get 33 percent more income with Doug Wheeler’s annuity income strategies?
Yes. We use unique concepts with exclusive products that less than 1% of agents in the United States have access to. Our highly trained, qualified and objective financial professionals are given access to these products and our proprietary strategies to help ensure that they are only placed with clients who are most suited to use them.

Our Location

First Community Insurance and Annuity Center

731 Larry Power Rd
Bourbonnais, IL 60914
Main office: 866-937-5533
Toll free: 866-937-5533
Fax: 815-937-8571

Our Providers


It's not always about the price, sometimes it is simply having the right coverage. With First Community Insurance I never worry whether I'm covered or not.
K.Smith - Culvers Franchise
Doug and his team handle the hard stuff immediately. The impossible takes a week or two.
T. Garcia - Small Business Owner
I don't worry about my retirement anymore. Doug set me up on autopilot income with above average returns and no risk... very happy.
M. Lucas - Semi-Pro Golfer
We wont go anywhere else.
R.Steinke and J.Piekarczyk
Doug Wheeler was the best thing that came into my life. I was in a perfect storm and he calmed the sea and assured me I would survive. Through his knowledge and direction, I can honestly say that I am OK today because of Doug. I questioned what I didn't understand and Doug was always willing to explain the unknown to me. I am pleased and privileged to now call him my friend as well as financial advisor. He treated me like family from the beginning and still does.
Kathy Lachowicz
In working with Doug Wheeler and First Community, I have found Doug to be the consummate insurance agent. Always looking out for your interests and doing what’s best for the client, he values the relationships he has built over the years and has extended those through generations of families he has worked with. When you need Doug, he is on the phone or at your door, ready, willing, and able to help. His extensive knowledge of insurance products and concepts has made him a respected member in his community and the insurance industry as a whole. If you are looking for a trusted advisor to help you through the often difficult world of insurance products and how to use them, Doug will personally walk you through the process and make it easy to understand.
John O'Keefe