The Purpose of Annuities
People usually buy annuities to supplement their other retirement income, such as pensions and Social Security. An annuity that provides guaranteed income for life also assures them that even if they deplete their other assets, they will still have some additional income coming in.
Annuities are contracts sold by insurance companies that promise the buyer a future payout in regular installments, usually monthly and often for life. Within that broad definition, however, there are different types of annuities that are designed to serve different purposes. The main types are fixed and variable annuities and immediate and deferred annuities. Have questions? Email us!
Key Takeaways:
-A fixed annuity guarantees payment of a set amount for the term of the agreement. It can't go down (or up).
-An immediate annuity begins paying out as soon as the buyer makes a lump-sum payment to the insurer.
-A deferred annuity begins payments on a future date set by the buyer.
What Annuity solutions do we offer?
Fixed | Fixed-Indexed | Single Premium Immediate Annuity
Income Riders Options | Annuity & Life Hybrid | Annuity & LTC Hybrid
Multi-Year Guaranteed Annuity | Impaired Risk SPIA’s | Flexible
Annuities are a great way to
diversify the fixed portion of your retirement portfolio.