Planning for your retirement is one of the biggest challenges you'll face. Annuities offer a safe option to help you accomplish your retirement goals. In fact, annuities are retirement vehicles that offer guaranteed payments for the rest of your life.
Annuities have many advantages to help you build financial security. First, your principal is always protected even if the market fails to have positive gains. Subsequently, your earnings accumulate on an income-tax-deferred basis to grow your retirement fund faster. You can choose from a variety of payout options, including a secure and steady income steam that you can't outlive. Also, annuities will not affect your Social Security benefits (although increases in your income may result in increased income taxation). As your Bankers Life insurance agent, I can educate you about annuities, explain your options and determine whether an annuity is right for you.
TYPES OF ANNUITIES
- Fixed interest annuity: This product is designed to help you accumulate funds for your retirement. the money in your annuity earns a guaranteed fixed rate of interest and your money accumulates on a tax-deferred basis, meaning you do not pay taxes on your earnings until you actually withdraw them from your policy.
- Fixed indexed annuity: A fixed indexed annuity provides the guarantees that come with fixed annuities but is combined with the opportunity to earn interest based on changes in an external market index. Because you are not actually participating in the market, the money in your annuity is not at risk.
- Immediate annuity: An immediate annuity is purchased with a single lump-sum payment and, in exchange, pays a guaranteed income stream that starts almost immediately.
