Annuities in Metairie
Want to find the path to more security with your financial future? Are you ready to make a plan to solidify your retirement and the financial future of your children?
Things tend to be a little complicated when it comes to finances. Choosing where to keep your money and deciding when to put it there are two very tough, yet important, questions. If you are in need of help finding answers to your financial and insurance-related queries, Gregory Ricks & Associates is here to help.
Annuities are often a great investment option for our Metairie clients. For many people, how annuities work may be a mystery. 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 designed for retirees and pre-retirees who are in need of steady income checks.
Fixed annuities feature a “fixed” interest rate that guarantees the interest rate for a specific time period. These annuities feature minimal risk and high predictability.
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. They also lock in gains, and can never lose those gains nor any principal, which protects against loss.
It will come as no surprise that there is a lot of variability involved with variable annuities. Variable annuities provide a death benefit. If you die before the financial institution has begun making payments to you, your beneficiary will be given 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 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
Talking to a licensed Metairie insurance professional can be a good way to really understand types of annuities, determine if one might fit into your retirement strategy, and, if so, find a suitable annuity and riders for you. Please contact us and we will contact you to schedule a meeting with a local, insurance-licensed financial professional. Contact us now to get started!