Annuities

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In its most general sense, an annuity is an agreement for one person or organization to pay another a stream or series of payments. Usually the term “annuity” relates to a contract between you and a life insurance company, but a charity or a trust can take the place of the insurance company.

An insurance annuity is a financial product that ensures a reliable income stream, making it an ideal choice for securing your financial future. When you purchase an annuity, like an index annuity, you gain access to several key advantages:

  • Income Security: An annuity provides a dependable source of income, protecting you from the risk of outliving your savings during retirement.

  • Market-Linked Growth: Index annuities offer the potential for growth by linking your returns to the performance of a specific market index, such as the S&P 500. This means your investment has the opportunity to grow over time.

  • Principal Protection: Index annuities come with a valuable downside protection feature. Even if the linked market index experiences a downturn, your principal is typically protected, ensuring you don't lose your initial investment.

  • Tax Benefits: Purchasing an annuity can provide tax advantages, as the growth of your investment is tax-deferred until you begin receiving payments, potentially increasing your overall returns.

  • Flexibility: Annuities can be customized to match your unique financial goals. You can choose various options, including the length of the payout period and beneficiary designations, tailoring the annuity to your specific needs.

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There are many categories of annuities. They can be classified by:

  • Nature of the underlying investment – fixed or variable
  • Primary purpose – accumulation or pay-out (deferred or immediate)
  • Nature of pay-out commitment – fixed period, fixed amount, or lifetime
  • Tax status – qualified or nonqualified
  • Premium payment arrangement – single premium or flexible premium

These videos are for educational purposes. We represent many of the top carriers available. We will review your unique situation and be able to offer you a variety of carrier products and plans to choose from.

Questions to Ask When Purchasing a Fixed Indexed Annuity

Buying An Annuity

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