Fixed Annuities

Fixed Annuities

What is an Annuity?

An Annuity is a contract between an insurance company and an annuity owner. In exchange for a purchase payment, or series of payments, the insurance company guarantees to pay a stream of income from the annuity in the future.

What is a Fixed Annuity?

A Fixed Annuity is a conservative retirement vehicle designed to accumulate assets and provide an income stream during retirement. To help give you the best idea of what a fixed annuity is and if it is right for you, let’s compare fixed annuities to other popular conservative investment vehicles.

Certificates of Deposit or CDs. Keep in mind that both of the vehicles are high quality products therefore the “best” choice ( annuity or CD ) depends on each individual’s own situation and financial goals.

Many fixed annuities allow for a contract owner to withdraw a certain percentage of their fixed annuities, annuity Annuity's account value, usually around 10% on an annual basis or accumulated interest, free of any annuity charges (tax penalties may apply). Amounts withdrawn in excess of this percentage are typically subject to surrender charges or adjustments, which cease after a certain amount of time. Different fixed annuities will have different lengths of time for the deferred sales charges. These charges generally decline year by year and will expire at the end of a certain number of years after owning the annuity. Generally, CDs charge an interest penalty if funds are withdrawn prior to maturity. Therefore an investor will have to wait until the CD matures if he or she would like to avoid early charges.

Book a Phone Appointment now

CLICK THE BOOKNOW Button Above

Who Needs an Annuity?

Annuities are designed to help individuals convert assets into a stream of income. They can be used to provide cash flow before or after someones death.

What is the Benefit?

Annuities offer guaranteed income and peace of mind in today's turbulent financial markets.

Immediate Annuities

An Immediate Annuity will begin an income stream within 12 months from the date of issue. You can decide fixed annuities, annuity when the immediate annuity payments will begin within that period as well as how long to receive the income from your annuity.

Deferred Annuities

A Deferred Annuity is a long term investment designed to accumulate assets for retirement. It also offers the ability to turn those assets into a predictable stream of income at some point in the future. You decide when your deferred annuity payments begin and how long to receive income.

Would you like to defer paying taxes on your investment?
Would you like to receive income for life?

If YES is your answer to either of these questions, a fixed annuity may be what you are looking for

Joint Life and Survivorship Annuity

This is an Annuity that continues the income payments for as long as one annuitant, out of two or more annuitants, remains alive. For an example, a married couple would receive an annuity income for as long as both spouses are still alive. Thereafter, payments would continue as long as the surviving spouse is still alive, usually for a smaller amount. This type of annuity is ideal for a husband and wife in that it guarantees the surviving spouse an annuity income for life. Even with a life annuity certain or other type of refund annuity, it is possible for a surviving spouse to outlive the money that has been funding the Joint Life and Survivorship Annuity annuity.

Five Annuity Payout Options

Life Income Annuity

Periodic Annuity payments for as long as the annuitant lives

Life Income with Period Certain Annuity

Periodic Annuity payments for a guaranteed period (5, 10 or 20 years) or for the life of the annuitant, whichever is longer

Joint and Last Survivor Annuity

Periodic Annuity payments during the joint lifetime of two annuitants. When one annuitant dies, the other will continue to receive payments for his or her lifetime

Joint and 2/3 Survivor Annuity

Periodic Annuity payments during the joint lifetime of two annuitants. The surviving annuitant will receive two-thirds of the annuity payment for his or her lifetime

Period Certain Annuity

Periodic Annuity payments guaranteed for a specific period (between 5 and 30 years)

Please call 866-392-INFO

The information provided is not written or intended as tax or legal advice. Our representatives are not authorized to give tax or legal advice. Individuals and business owners are encouraged to seek professional advice from their own tax or legal counsel.