Annuities
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Annuities Information
There are many different annuities offered by insurance companies. Most simply put an annuity is a savings product offered through an insurance company. They generally are designed for those who are putting money away for retirement or need to start drawing money and don't want to see their income stream evaporate.
I could write a book on the value of annuities and how they work, but since this is a one page summary, I will discuss the ones we typically deal with.
My personal favorite is the equity indexed annuity. There are several types of these, but the exciting thing about these products is that they allow some participation in the stock market, but without the risk. They have guarantees associated with them that make them more suitable for the saver who doesn't want any market risk but would like some of the benefits.
We offer a variety of fixed annuities which are simply contracts with insurance companies that offer a fixed amount of interest for a fixed period of time. An example would be five, seven or ten years. These annuities as well as the equity indexed annuities offer;
- Contractually guaranteed principle
- Most offer penalty free withdrawals before their maturity date. Typically 10%
- All are tax deferred, meaning you pay no tax on the accumulating interest until you take it out
- Many have nursing home benefits that allow you to withdraw more than the 10% if you are confined to a nursing home
- You can turn the contract into a life time benefit that you can't outlive although it is not required.
Call or Click On the Annuity Information Request Link For More Information
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