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Annuities Provided By Our Agency

What does retirement mean to you? You might look forward to time with your grandchildren and a favorite hobby. Or maybe you want to play endless rounds of golf and explore the world. Whatever your goals, they probably depend on a reliable source of income.

And that’s where an annuity can help. They’re insurance products designed to provide you with a way to accumulate tax-deferred savings while you prepare for retirement and a steady stream of retirement income.

What are Annuities?

Annuities are designed to help you grow your retirement income. They’re long-term contracts from an insurance company where you invest your money. In return for your investment, you get income from regular payments.

An annuity is a long-term investment issued by an insurance company and designed to help protect you from the risk of outliving your income. Through annuitization, your purchase payments (what you contribute) are converted into periodic payments that can last for life.

Investing involves risk, and your investments may lose value. All guarantees and protections are subject to the claims-paying ability of the issuing insurance company. Still, the guarantees do not apply to any variable accounts, which are subject to investment risk, including the possible loss of principal.

Types of Annuities

There are several types of annuity products available to choose from. Whether you’re looking for income options, legacy planning tools or spousal protection, your financial professional can tailor a plan to meet your specific goals.

Variable: There’s the potential for more earnings, but you also take on more risk.

Registered index-linked: Exposure to downside risk is limited, and there is potential for increased earnings based on index growth.

Fixed: Your investment grows based on a guaranteed rate of return.

Immediate: Convert a lump sum of money into a stream of income.

Fixed indexed: The potential for increased earnings is based on index growth, but there’s still downside protection.

Reasons to purchase an Annuity

Annuities are purchased to generate steady income. Although annuities are typically considered financial solutions for older individuals getting ready to retire, they can be advantageous for investors of any age with various financial goals.

The following are some reasons for purchasing an annuity:

  • Enduring safety
  • Deferred tax growth
  • Principal protection
  • Probate-free estate distribution
  • Inflation adjustments
  • Death benefits for heirs

Benefits of Annuities:

  • Tax-Deferred Growth: You save money without paying taxes on the interest until a later date.
  • Ensure the Welfare of Your Family: Death benefit riders let you distribute your funds to your loved ones
  • No Contribution Limits: Unlike 401(k)s and IRAs, you set the dollar amount you invest.
  • Fund Your Retirement: Annuities create predictable income streams for life.

Already have Annuities? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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