Does the future of your finances keep you up at night? Do you want to make a plan to solidify your retirement and your children’s financial health?
The financial world is typically complex. Knowing where to put your money and deciding when to put it there are two very tough, yet important, questions. The goal of Gregory Ricks & Associates is to help people in Metairie with finding answers to these and other financial and insurance-related queries.
Annuities are often a great investment for our Metairie clients. But many people don’t even know what annuities are or how to get started with one. As your financial professional, we hope to reveal what annuities are all about without bogging you down with complex equations.
To help you get going, we’ve placed some information below about a few different types of annuities that you may come across.
Immediate annuities begin the payout stream to the owner soon after the contract is issued. They are sometimes referred to as “income annuities” because of the steady income stream that they provide.
By choosing a fixed annuity, the annuity owner receives a set interest rate for a specific period of time. These annuities feature minimal risk and high predictability.
Fixed Index Annuities
A fixed index annuity has a low guaranteed interest rate plus the potential for a higher interest rate 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.
It won’t be a surprise that there is a lot of uncertainty involved with variable annuities. The variable annuity death benefit is one difference. If you die before the insurance company has begun making payments to you, your beneficiary is guaranteed to receive a specified amount.
Annuities and their Riders
Benefits from various types of annuities can be augmented with rider purchases to better fit your needs. The features of these annuities 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
To get the help that you to choose a suitable annuity, talk to an insurance-licensed Metairie, La financial professional. By contacting us, you can arrange your first meeting with an insurance-licensed financial professional. Get started now!