This means you can't find a better price for the same insurer's product.
Expert Advice from an Insurance Professional.
Are you seeking a combination of safety & growth for your hard-earned dollars? Do you desire some flexibility and/or liquidity, or simply want a guaranteed rate of return? We have many top rated fixed/indexed annuity products to fit your needs. The closer you get to retirement, the more important it becomes to protect your retirement nest egg. A Fixed Annuity provides that critical safety net for your principal while still providing liquidity. Fixed-Indexed Annuities provide the same principal guarantees of a traditional fixed annuity while providing an opportunity for greater growth.
The buying power of today’s money is reduced by tomorrow’s price and inflation increases. To help protect against this, some annuities can provide interest rates that will keep pace with inflation and reduce its risk. So whether you are seeking a combination of safety and growth for your hard-earned dollars, desire some flexibility and/or liquidity, want a simple guaranteed rate of return or need a guaranteed income stream you can never outlive, we have multiple carrier and product solutions to fit your needs.
What Exactly is an Annuity?
An annuity protects your principal, and provides guarantees while you get a good return, and income for life. An annuity is essentially a great savings plan. It defers taxes allowing money to compound more quickly. An annuity is a contract issued by a life insurance company that allows the client to set aside money today (premiums). In exchange the carrier promises a lifetime income stream. Like IRAs, annuity withdrawals before the person is at least age 59 ½ result in a 10% penalty. Taxes are paid when the interest earned is withdrawn. These insurance products don’t have a direct downside market risk due to market fluctuations as they are guaranteed by the company that issues them. Since they have a competitive interest rate they have been a favorite of informed financial minded individuals to accumulate and protect wealth. Traditional Fixed Annuities have been helping from all walks of life prepare for a secure retirement. With their combination of tax-deferred accumulation, minimum interest rate guarantees, and lifetime income options, fixed annuities have long been an important - and most would agree conservative - component of many American's financial portfolios. There are Two Phases with any Annuity product:
Qualified vs Non Qualified Annuity
Tax wise, what is the difference between a qualified and non-qualified annuity?