Annuities
Understand the Benefits
Understanding Annuity Benefits
Annuity benefits differ from product to product.
Not all annuities are created equal; for instance, they differ in the level of protection they provide. And, whether or not an annuity is right for you depends on your unique financial situation and needs. It’s important that you know all of your potential options. Many retirees forget to take into account factors such as taxes and the rate of inflation when it comes to their retirement budget. However, these details are far from trivial. Certain products, however, such as annuities, come with benefits that can help you with them.
What is an Annuity?
In order to make the right decisions for retirement, you need to understand as much as you can about your different options. Could a fixed indexed annuity (FIA) be the right choice for you? We can help you find out. An FIA is a contract with an insurance company. First, you contribute a set amount of money. Then, the company keeps that money protected, while it gains interest based on the performance of an index. The time during which you let the money grow without withdrawing any of it is known as the accumulation stage, and typically lasts five to ten years. It could be longer, however, depending on the terms of your individual contract. When this period ends, the distribution stage begins, and you may take the money in the form of income payments.
Reach Out to Us
Could an annuity be the right option for you? Reach out to us to find out. Because we believe in the importance of understanding your options, we host no-cost educational seminar events where we’ll discuss how annuities work, factors that impact your retirement, and more. Furthermore, at these events, we offer a complimentary gourmet meal. Interested in learning more? Or, if you want to discuss your own personal retirement strategy, you could schedule a one-on-one meeting with us. We’re always here to help!