Annuities can be used to help you increase your savings, generate an income, and protect what you have saved. With all the recent stock market turmoil, annuities have become a very popular choice for a retirement savings vehicle. We offer our clients fixed, indexed annuities and single premium annuities.
Fixed Annuities are like a CD investments issued by insurance companies. They pay guaranteed rates of interest, and in most cases, higher than CD accounts. Fixed annuities can be deferred or immediate. Deferred accumulated regular rates of interest whereas immediate make fixed payments based on your age and size of annuity.
Indexed Annuities yield returns on your contributions based on a specified equity-based index. They can be purchased from an insurance company and the terms and conditions will depend on what is stated in the original annuity contract.
Single Premium Annuities are purchased with a lump sum of money and offer a guaranteed source of income for retirement. This type of annuity skips the accumulation stage and begins paying out income immediately or within the year after you have purchased it. Single Premium Annuities can be immediate or deferred but cannot be returned. Surrender fees are extremely steep.
These type of annuities offer: