Annuities
Defined: A financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon annuitization, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for an individual during their retirement years.
Multi-Year Guaranteed Annuity (MYGA)
Fixed Guaranteed interest rates for 3, 5, or 7 years
Because you can name a beneficiary on an annuity, funds can bypass probate, saving time and costs of probate to your benefit. This typically will allow a greater net amount to be passed on.
Fixed Indexed Annuities
These products have gained popularity that billions of dollars are transferred into them each year. Fixed Indexed Annuities offer a safe alternative for your investments. They offer potential for double digit returns annually and at the same time protect from any losses. At the time while having underlying guarantee of principal with an underlying guaranteed rate of return.
Immediate Annuities
A lump sum account and the insurance company guarantees a payout of principal and interest for a fixed period of time. It may also be set up as a lifetime income, that you cannot outlive. Non-qualified money will benefit from tax advantages.
Guaranteed Lifetime Income Riders
Income riders have been developed in order to guarantee a lifetime of income without losing control of your principal account balance.
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During accumulate phase, the income account can guarantee a high rate of growth compounded up to 7% annually
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Income can be activated from this income rider account at a future date
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Income amount if guaranteed for life, even if the annuity accumulation value goes to zero dollars, you will still have a guaranteed income for life.