Annuities

As a generation, we are living longer than ever. Without the right investment plan, we run the real risk of outliving our savings. Annuities are one of the best ways to provide a steady stream of income- for the remainder of your life. Annuities are an investment tool to ensure that your retirement years are protected and secured. This type of investment is most effective when you start as early as possible. The longer you invest, the greater the amount to annuitize. Here are some general types of Annuities:

Single Premium Annuity

Purchased with only one premium, this annuity may require a larger initial investment. However, it can take full advantage of tax-deferred growth and compound interest benefits to increase its value over time.

Flexible Premium Annuity

This annuity allows you to make premium payments at varying intervals and in varying amounts. This offers you the flexibility to invest in the annuity at your own pace as your finances permit.

Fixed Annuity

This annuity pays a set rate of interest during the annuity’s accumulation phase and a fixed amount of benefits after it is annuitized. This type offers the security of knowing the rate of return, and no further investment decisions need to be made.

Equity-indexed Annuity

This annuity is fixed deferred, allowing you to enjoy some of a stock market’s gains without assuming the risk of losing money if the stock market declines. The credit earnings are based on the movement of an equity index. You’re guaranteed a certain minimum return.

Annuities with Long Term Care Insurance Rider

These are basic annuities which offer all of the advantages annuities possess. But in addition, a rider at nominal cost can create a pool of money that can cover some long term care costs, usually for a limited period. They are usually funded by repositioning a current asset, either an existing annuity or a bank CD. One can often improve on ones current return and at the same time cover long term care costs. These products are ideal for a person who cannot qualify medically for long term care insurance and yet has a great need to be protected. Visit our Learning Center to learn more about Long Term Care Insurance.

Insuring your future care ensures your peace of mind. Contact us today to talk to one of our specialists and learn more about your options.
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