Are you worried about the health of your finances in the future? Are you ready to make a plan to strengthen your retirement and your children’s financial health?
With finances, things tend to be complex. Two of the most difficult choices to make are where to put your money and when to start. At Gregory Ricks & Associates, we help people find answers to these and other questions.
Annuities are often a great investment option for our clients in Kenner. But lots of people don’t even know what annuities are or where to find one. We can teach you all about your annuity choices, without the need for complex jargon.
To help you get started, we’ve included some information below about a few different types of annuities that you might encounter.
With an immediate annuity, the owner will receive payout benefits soon, or up to 12 months after the contract is made. They are designed for retirees and pre-retirees who are in need of steady income checks.
By selecting a fixed annuity, the annuity owner receives a set interest rate for a specific time frame. These annuities feature low risk and high predictability.
Fixed Index Annuities
Fixed index annuities have 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 won’t be a surprise that there is a lot of uncertainty involved with variable annuities. Variable annuities include a death benefit. This benefit works by giving a specified amount to your beneficiary if you pass away before your insurer has made payments to you.
Annuities and their Riders
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. For more information on these types of annuities, talk to your insurance-licensed professional.
Finding a Suitable Option For You
To get the guidance that you to choose a suitable annuity, call an insurance-licensed Kenner, LA financial professional. Please contact us and we will contact you to schedule a meeting with a licensed insurance professional in your area. Contact us now to get started!