Are you looking for a product to add security to your financial future? Is it time to quit procrastinating and plan for your retirement and your children’s future?
Things tend to be a little complicated when it comes to finances. Deciding where to put your money and when to do it are two very difficult choices. But they’re necessary questions. At Gregory Ricks & Associates in Mandeville, we help residents find the answers to these and many other financial and insurance-related queries.
Many of our clients in Mandeville have seen great results from choosing an investment strategy that includes annuities. For many people, how an annuity works may be a mystery. We will strip away the complex facts and figures and help you understand the basics of your annuity choices.
To help you get going, we’ve written some information below about a few 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 thought of as “income annuities” because of the consistent income stream that they provide.
Fixed annuities feature a “fixed” interest rate that guarantees the interest rate for a specific time period. These annuities are known for 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 owners from loss, they also can only show gains, which are locked in, and will never lose the owner’s principal or gains.
As you may have guessed, there is a lot of uncertainty with variable annuities. One difference is the death benefit. A specified amount of money will be given to your beneficiary if you die before you have received payments from your financial institution.
Annuities and their Riders
Features 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 Mandeville insurance professional can be a good way to truly understand types of annuities, determine if one might fit into your retirement strategy, and, if so, find a suitable annuity and riders for you. By contacting us, you can arrange your first meeting with an insurance-licensed financial professional. In this meeting, you will share your retirement needs and goals with them to construct a retirement strategy and determine a appropriate choice from all the types of annuities and their riders available to you. Get started now!