Saving Enough to Have Financial Peace of Mind
Annuities allow you to accumulate tax-deferred funds for retirement and then, if you desire, receive a guaranteed income (this process is called Annuitization) payable for life or for a specified period of time: generally a term of five, ten, 20 years and Lifetime.
Annuities are offered by Insurance companies and sold through licensed agents. The insurance company must be evaluated and licensed in your state as does the agent. State insurance commissions scrutinize Insurance companies to ensure they have reserve funds, commonly referred to as State Legal Reserve Pools, in place to protect investors before granting insurance companies licenses.
If an insurance company goes out of business other insurance companies licensed in state must assume bankrupt insurers obligations and liabilities. Note that this protection protects fixed-rate annuity holders only, with some protection afforded to variable annuity owners. They are very similar to CDs offered by banks. Just like banks, insurance companies offer different rates and returns on annuity investments.
Advantages of Annuities:
1. Tax Deferral
2. Avoidance of Probate
3. Guaranteed Income (optional) for a fixed period of time, or income for life.
Fixed and Immediate Annuities are right for you if you need:
1. To safely create wealth for your heirs
2. Tax-deferred growth
3. Your principal and interest guaranteed
4. Your heirs to avoid probate upon your death
5. Need an increased death benefit
6. Stock-market linked gains without the downside risk
7. Money that is designated for inheritance
8. Do not need more than 10% liquidity annually
Main factors to consider when looking for an annuity:
1. Strength and financial security of the insurer
2. Finding a balance between the rate of return and the contract flexibility
3. Shopping at a time when interest rates are high, or you suspect them to drop much lower
4. Length of the contract and early surrender penalties.
5. Withdraw / Surrender charges
6. The withdraw charge schedule
7. Penalty-free withdrawal allowance
8. Disability and terminal illness provisions
9. The length of the guarantee period
Please see the Annuities drop down menu above to review types of Annuity Options.
Should you have any questions or concerns about whether Annuities are right for you, please take a moment and contact us on the Home Page or under the More/Contact drop down menu.
Annuities are offered by Insurance companies and sold through licensed agents. The insurance company must be evaluated and licensed in your state as does the agent. State insurance commissions scrutinize Insurance companies to ensure they have reserve funds, commonly referred to as State Legal Reserve Pools, in place to protect investors before granting insurance companies licenses.
If an insurance company goes out of business other insurance companies licensed in state must assume bankrupt insurers obligations and liabilities. Note that this protection protects fixed-rate annuity holders only, with some protection afforded to variable annuity owners. They are very similar to CDs offered by banks. Just like banks, insurance companies offer different rates and returns on annuity investments.
Advantages of Annuities:
1. Tax Deferral
2. Avoidance of Probate
3. Guaranteed Income (optional) for a fixed period of time, or income for life.
Fixed and Immediate Annuities are right for you if you need:
1. To safely create wealth for your heirs
2. Tax-deferred growth
3. Your principal and interest guaranteed
4. Your heirs to avoid probate upon your death
5. Need an increased death benefit
6. Stock-market linked gains without the downside risk
7. Money that is designated for inheritance
8. Do not need more than 10% liquidity annually
Main factors to consider when looking for an annuity:
1. Strength and financial security of the insurer
2. Finding a balance between the rate of return and the contract flexibility
3. Shopping at a time when interest rates are high, or you suspect them to drop much lower
4. Length of the contract and early surrender penalties.
5. Withdraw / Surrender charges
6. The withdraw charge schedule
7. Penalty-free withdrawal allowance
8. Disability and terminal illness provisions
9. The length of the guarantee period
Please see the Annuities drop down menu above to review types of Annuity Options.
Should you have any questions or concerns about whether Annuities are right for you, please take a moment and contact us on the Home Page or under the More/Contact drop down menu.
