Annuities
What is an Annuity?
An annuity is a financial product that provides a steady income stream, typically used for retirement planning. It can be a valuable tool for ensuring financial stability in your later years.
There are several types of annuities, including fixed, variable, and indexed. Each type has its own benefits and risks, allowing you to choose the one that best fits your financial goals.
Annuities offer various benefits such as tax-deferred growth, guaranteed income for life, and protection against market volatility. They can be tailored to meet your specific needs.
Fixed Annuities
A Fixed Annuity may be right for you if you are seeking a long-term investment that can provide guaranteed income payment in the future that cannot be outlived.
- Fixed Annuities are a safe and guaranteed way to provide retirement income.
- Annuities allow your investment to grow on a tax-deferred basis. Pay no taxes until you withdraw money.
- Fixed annuities offer safe, competitive interest rates so that your money is constantly growing.
- All of the money you deposit into a Fixed annuity begins earning interest immediately.
- Annuities offer many options for income payouts that allow the product to fit your needs.
- A Fixed Annuity contract guarantees a minimum rate of interest.
- Annuity contracts also offer a variety of payout options that can be chosen when you are ready to begin receiving these payments. Moreover, a Fixed annuity allows you the option to receive a lifetime income stream. currently, this is the only financial product in a retail setting that can guarantee income payments you cannot outlive.
- An annuity also offers beneficiary options so you can determine who will receive your funds upon your death.
- There are many policy riders available that would allow you to design a life insurance policy that fits your particular needs and budget.
Variable Annuities
A variable Annuity may be right for you if you are seeking a long-term investment that can provide guaranteed income payments in the future that cannot be outlived. Variable Annuities allow you to choose from a diverse group of investment options which offer the potential for higher returns.
- Variable Annuities offer higher growth potential than fixed annuities, however these higher returns carry risk
- Annuities allow your investment to grow on a tax-deferred basis. Pay no taxes until you withdraw money.
- All of the money you deposit into a Fixed annuity begins earning interest immediately.
- Variable Annuities offer many investment options for growth and many choices for income payout.
- A Variable Annuity is a savings vehicle that helps you accumulate assets for your future needs. A Variable Annuity allows you to decide how to invest your money by allowing you to choose from a variety of investments within the annuity contract. Most Variable Annuities also offer a fixed account. The returns that you experience will be based upon the subaccounts you choose within the annuity. Many annuities offer the ability to make on-going premium deposits. These payments can be increased, decreased or stopped all together.
- Variable Annuity contracts also offer a variety of payout options that can be chosen when you are ready to begin receiving these payments. Moreover, a Variable annuity allows you the option to receive a lifetime income stream. Currently, annuities are the only financial product offered in a retail setting that can guarantee income payments you cannot outlive.
- Variable Annuities also offer protection to your heirs in the form of guaranteed minimum death benefits. Most annuities provide at least a return of principal invested, and many provided an enhanced guarantee.
index Annuities
A variable Annuity may be right for you if you are seeking a long-term investment that can provide guaranteed income payments in the future that cannot be outlived. Variable Annuities allow you to choose from a diverse group of investment options which offer the potential for higher returns.