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Annuities in Metairie

Are you searching for a way to add security to your financial future? Would you like to plan for your future to ensure your retirement is comfortable (or your childrens’ future is financially sound)?

Things are typically a little complicated when it comes to finances. Learning where to put your money and deciding when to put it there are two very difficult, yet essential, questions. At Gregory Ricks & Associates in Metairie, we help residents find the answers to these and many other questions.

For many of our Metairie clients, investing in annuities is a great option to plan for the future. But lots of people don’t understand what an annuity is or how to get started with one. We can teach you all about your annuity options, without the need for complex jargon.

To help you get going, we’ve included some information below about a few different types of annuities that you might come across.

Immediate Annuities

An immediate annuity is one that begins the payout stream to the owner immediately after the contract is issued (or payouts can be triggered up to 12 months later). They are designed for retirees and pre-retirees who are in need of a regular income stream.

Fixed Annuities

Fixed annuities feature a “fixed” interest rate that guarantees the interest rate for a specific time frame. If someone is searching for an option that provides predictability, this may fulfill that requirement.

Fixed Index Annuities

A fixed index annuity has a low guaranteed interest rate plus the possibility of additional interest based on an increase in value of the market index to which it’s linked. To protect from loss, they also can only show gains, which are locked in, and will never lose the owner’s principal or gains.

Variable Annuities

It will come as no surprise that there is a lot of uncertainty involved with variable annuities. One difference is the death benefit. If you die before the insurer has made payments to you, your beneficiary will be given a specified amount.

Annuities and their Riders

Features and/or benefits from multiple types of annuities can be augmented with rider purchases to better fit your needs. The annuity features discussed here are not mutually exclusive. For example, fixed or index annuities can be immediate or deferred. Talk to your licensed insurance professional for more information on types of annuities.

Finding a Suitable Option For You

As you can see, annuities come in with a variety of features. To get the guidance that you to choose a suitable annuity, call an insurance-licensed Metairie financial professional. By contacting us, you can schedule your first meeting with an insurance-licensed financial professional. In this meeting, you will talk about your retirement needs and goals to construct a retirement strategy and determine a suitable choice from all the types of annuities and their riders available to you. Get started now!