ANNUITIES
FIXED INCOME ANNUITIES
It is important that you understand the differences among various annuities so that you can select the kind that best suits your needs. An Annuity is a contract in which an insurance company makes a series of income payments at regular intervals in return for a premium or premiums you have paid.
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Annuities are most often purchased for future retirement income. Only an annuity can pay an income that can be guaranteed to last as long as you live.
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Things to Know:
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• Is this a single premium or multiple premium annuity?
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• Is this an immediate or deferred annuity?
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• Is this a fixed or variable annuity?
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• Is this an equity indexed annuity?
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• What is the initial interest rate and how long is it guaranteed?
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• Are there any penalties or fees associated with an annuity?
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• Can I transfer an existing retirement plan into an annuity?
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• Is there a bonus associated with establishing an annuity?
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• Is this the right time for me to purchase annuity?
As economic insecurity lingers, some experts are seeing annuities as a product that can deliver the kind of guaranteed monthly paycheck whether good times or bad times