LIFE INSURANCE- RETIREMENT - SENIOR BENEFITS
SERVING TEXAS, UTAH, OHIO, VIRGINIA, NORTH CAROLINA, SOUTH CAROLINA, MARYLAND, MISSISSIPPI, GEORGIA
ANNUITIES
What are Annuities?
Annuities are conservative financial solutions that offer steady gains and guaranteed no losses (fixed and indexed annuities). Many annuities are used as long-term savings plans because they accumulate cash value. They also have the ability to allow an individual a lifetime stream of income that cannot be outlived, often during retirement. An annuity is an insurance contract that is purchased either through a one time lump sum or premium payments over a period of time. Annuities generally have a growth period and/or a payout period.
Annuities have become very popular because of their safety guarantees. After loosing a large part of their savings in the stock market. Many of our clients have chosen to roll over their 401ks to fixed or indexed annuities as they are the much safer and steady financial solution.
FOR THE MOST ACCURATE INFORMATION PLEASE SCHEDULE A TIME TO SPEAK WITH ONE OF OUR BROKERS. THEY WILL ASSIST YOU IN DETERMINING WHAT TYPE OF SOLUTION IS BEST FOR YOUR SPECIFIC NEEDS.
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Types of Annuities
There are two types of Annuities. Deferred and immediate. These two categories refer to the way you are able to receive your benefit.
Deferred Annuity
Deferred Annuities are meant to last a period of years before the individual or couple starts receiving a stream of income or their lump sum . This type of annuity is generally funded over a period of years, but also may be funded with a lump sum or "qualified rollover". During this period the annuity contract accumulates interest to cash value that is tax deferred. This means that the interest that is gained on the account is not subject to income tax until distribution. This is known as "The Accumulation Phase"
TYPES OF DEFERRED ANNUITIES INCLUDE FIXED ANNUITIES, INDEXED ANNUITIES AND INCOME ANNUITIES.
Immediate Annuity
Immediate Annuities are generally purchased with lump sum of money, sometimes with a "Qualified Rollover". Immediate Annuities have no "Accumulation Phase" They are meant to provide the individual or couple with an immediate (or in the near future) stream of income, also known as "The Annuitization Phase". These types of annuities are referred to as "Single Premium Immediate Annuities" or "SPIAs".
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