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ANNUITIES

A Stream of income for life

Annuities are insurance contracts that turn lump sums, or long term savings into streams of income . This is a compelling advantage for retirees, since individuals are determined to increase their streams of income instead of just relying on social security or traditional pension plans or their personal savings.. Variable annuities have returns that are linked to the market, some of them have downside protection.
 
If you do not have a lump sum, you will be happy to know that you can  deposit money on a monthly basis, which are called  premiums, with an insurance company, that can earn interest tax  which is a tax-deferred. The insurance company  will then pay  to you, at an agreed time in the future,  an agreed amount at regular intervals for the rest of your life.  

Immediate or Deferred: Pay you now or pay you later

There are two paths to securing future payments, when it comes to annuities:

Annuities are insurance contracts that turn lump sums, or long term savings into streams of income . This is a compelling advantage for retirees, since individuals are determined to increase their streams of income instead of just relying on social security or traditional pension plans or their personal savings.. Variable annuities have returns that are linked to the market, some of them have downside protection.
 
If you do not have a lump sum, you will be happy to know that you can  deposit money on a monthly basis, which are called  premiums, with an insurance company, that can earn interest tax  which is a tax-deferred. The insurance company  will then pay  to you, at an agreed time in the future,  an agreed amount at regular intervals for the rest of your life.  

Immediate

Monthly begin within a year after the premium (lump sum) has been paid.

Deferred

Monthly payments begin many years after the premium is paid. In this case, the annuity can be purchased with one lump sum, or with a series of premium payments over time.

Fixed, variable or indexed?... the choice is yours

Variable annuities give the annuitant a number of options:

  • Funds can be invested in the stock market, which can result in a gain or loss of principal 
  • Funds can be invested in various accounts as well as a fixed interest bearing account 
  • Funds can be switched from one account to another, without a tax liability

Indexed annuities allow you to benefit from interest that is credited to your annuity based on changes in the stock market as measured by any well known measure of the stock market’s performance. Therefore your funds are not in the stock market.  There are minimum guarantees that allow you to be protected from any decline of the stock market 

Fixed interest rate annuities earn interest at a guaranteed fixed rate of interest which is determined by the insurance company

Undisputed value

We must prepare for retirement that can last at least 30 years. It is very difficult to dispute the power of the income and protection advantages of an annuity. Retirement assets are expected to double by 2030, with pensions going away, it is going to be annuities that will fill the gap, get their fair share.

  

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