types of annuity
Annuities For Growth, Fixed Annuity, Income Annuities, Index Annuity, What To Watch Out For,

The Importance of Understanding The Different Types of Annuity

Understanding Different Annuities Receiving A Paycheck For The Rest Of Your Life Sounds Great, Right? This isn’t a dream. It’s actually possible thanks to annuities. Annuities are a form of life insurance. You pay a sum of money (called a single premium annuity, not to be confused with a SPIA). This can be either all at once or over a period of time (flexible premium annuity). In return, your money does not go down (only if you buy from one of our advisors), it only goes up (depending on the crediting option you choose).  Also if you buy an income rider (you will pay a fee, should only be about 1%) you receive regular disbursements of that money until you’re no longer living. A staggering 84%

tax deferred annuity
Annuities For Growth, Fixed Annuity, Income Annuities, Index Annuity,

What Is A Tax Deferred Annuity?

Tax Deferred Annuities So you’ve decided to stop stuffing money under your mattress (or the bank account equivalent of putting it in a savings account with 0.000001% interest). Congratulations! Before you lose your motivation, let’s explore why a tax deferred annuity could be an ideal option for those funds. Although annuities are often associated with retirement income, you do not have to be on your way to your sunset years to purchase these products. Instead, read on to decide what’s the best investment for your needs. We promise this will make cents! Just the Tax Facts First up, you may have heard of tax-deferred annuities called by another name: “fixed tax deferred annuity.” For sake of brevity, we’re going to lop off the “fixed.” One

fixed index annuity
Fixed Annuity, Income Annuities, Index Annuity,

When is the Right Time to Get a Fixed Index Annuity?

Fixed Index Annuities (FIA) are growing in popularity. Positioned to take over all other annuity products in sales, FIA products are offering the best of both worlds for investors. Protect Principal, Spark Growth You can both protect principal and spark significant growth with an FIA product. One of the only downsides with FIA products is the incredible variety of crediting options available (how you make a return). With different formulas and competing companies offering the investment opportunity, it can be confusing to know when and where to buy. Financial advisors recommend the product for growth and protection. But financial advisors also warn to be wary of bad products with confusing returns. Plus, there are so many varieties of annuities available, it can be difficult to

Income for Life
Annuities For Growth, Income Annuities,

How to Get Guaranteed Retirement Income for Life

Retirement Income for Life Hitting retirement and having no guaranteed income can be detrimental to your health. According to the American Psychological Association, older individuals with lower socio-economic status are at risk for increased mortality rates, higher stroke incidence, higher progressive chronic kidney disease, and lower health-related quality of life. So, having a secure way to receive a steady income after retirement will help you live a full life. But how do you go about doing that? How do you get guaranteed retirement income for life right now? Well, we’re here to talk about how you can get a guaranteed income stream with an annuity and avoid the scammers because they are out there. So, let’s dig in. How Does An Immediate Annuity Work? A single premium

Annuity Riders, Income Annuities, What To Watch Out For,

What Happens If I Die Before I Begin To Receive Payments From My Annuity?

What Happens If I Die Before I Begin To Receive Payments From My Annuity? In the unfortunate event of the contract owner’s death before income payments begin, the beneficiary may receive a death benefit from the annuity. In some contracts, the death benefit will be based on the account value. Other contracts use the surrender value or other applicable contract value to calculate the death benefit. What if you have a spouse? Does he or she have inherent rights?  If your spouse is the surviving joint owner or sole beneficiary, then he/she may have the ownership rights with all rights and privileges of the original owner, as allowed by IRS regulations.

Annuities For Growth, Income Annuities, Index Annuity, What To Watch Out For,

Two Distinct Phases of an Annuity

What Are the Two Phases of an Annuity? The Accumulation (or Investment) Phase: This is the phase in which you add money to the annuity and collect interest in some form. A purchased deferred annuity is necessary when this option is utilized. You can purchase one in one lump sum. You can make investments periodically over time. The Distribution Phase: This occurs when you begin distributions from the annuity. Two general options for receiving distributions are available. The first option allows some or all of the money in the annuity to be withdrawn in a lump sum. The full contract value can be “rolled” into another agreement without paying taxes. This is called a 1035 exchange. The second option while using an income rider is to turn on the income

Income Annuities,

A Single Premium Immediate Annuity: “SPIA”

What is a SPIA (Single Premium Immediate Annuity)? An Immediate Annuity This gives you access to a stream of income immediately after you purchase it. Most immediate annuities have a unique feature. They do not give you access to your money once it is annuitized. There is one carrier that is out there that will allow you to access up to 90% of the value of the payment stream. Fill out our form and we will introduce you to one of our financial advisors that can help direct you to the best solution, NOT just a product. A Single Premium Immediate Annuity “SPIA”  This may be the right annuity for you. Are you looking for payments that begin right away? How about payments that continue for the

Fixed Annuity, Index Annuity, What To Watch Out For,

What Is A Surrender Charge?

What is a Surrender Charge? Annuities: Withdrawals At no Charge A deferred annuity may be surrendered to receive a lump-sum payment of the account’s value. Most annuities have a surrender period that allows withdrawal at no charge. Withdrawals during the surrender period (meaning during the contract term, remember only allow this to be a MAX of 10 YEARS!) are usually subject to charges based on several factors including the account value and the number of years remaining. DO NOT accept any surrender charges over 10%. If you have any questions please contact us. Some products will have 14% or 20% surrender changes. Insurance companies should not sell these! Surrender-Charge Free Withdrawal Options Annuities are long-term instruments designed to accumulate money for retirement. Consequently, they provide the best

Annuities For Growth, Index Annuity, What To Watch Out For,

Are There Any Fees For My Fixed Annuity?

What Are The Charges For A Fixed Annuity? Most annuities do not charge up-front sales charges, rather they have charges for withdrawals before the end of a stated period. A fixed and fixed-indexed annuity do not have administrative fees, although interest crediting rates take into account expenses related to the product.  Variable Annuities Variable annuities may involve ongoing maintenance and administrative fees to provide guaranteed death benefits and cover expenses related to the product. When purchasing a variable annuity, information regarding contract charges in the contract’s prospectus is available. All this means is that with an index or fixed annuity there are no fees. Therefore, if you buy from the right insurance carriers, you’ll have little if any fees. Say you invested $100,000 into a fixed or index