Are you looking for a product to secure your financial future? Is it time to quit procrastinating creating a plan for your retirement and your children’s future?
The world of finance is typically complex. Choosing where to put your money and when to do it are two very difficult choices. But they’re necessary questions. The mission of Gregory Ricks & Associates is to help residents in Metairie with finding answers to these and other financial questions.
Many of our clients in Metairie have seen great results from choosing an investment strategy that includes annuities. But lots of people don’t even know what annuities are or how to get started with one. We will strip away the complexities and help you understand the basics of your annuity choices.
To help you get started, we have included some information below about a few types of annuities that you may encounter.
Through an immediate annuity, the owner will be given payout benefits soon, or up to 12 months after the contract is made. They are sometimes referred to as “income annuities” because of the regular income stream that they provide.
Fixed annuities include a “fixed” interest rate that guarantees the rate of interest for a specific time period. If someone is looking for an option that offers a predictable rate of interest, 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. They also lock in gains, and can never lose those gains nor any principal, which protects owners from loss.
It will come as no surprise that there is a lot of uncertainty involved with variable annuities. Variable annuities provide a 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
Benefits from two or more 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 help that you to select a suitable annuity, talk to an insurance-licensed Metairie, LA financial professional. By contacting us, you can schedule your first meeting with an insurance-licensed financial professional. You will discuss your retirement goals to construct a retirement strategy and select a suitable choice from all the types of annuities and their riders available to you. Get started now!