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What is the Difference Between Fixed Annuities vs. Variable Annuities?

Annuities are defined as being a contract that is between an individual and an insurance company. An annuity contract can provide a set stream of retirement income to the person on whose life it is based - who is also known as the annuitant - and that is in return for either a lump sum premium payment, or periodic premium payments over time.

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What Are Annuity Surrender Charges?

There can be a number of advantages to owning an annuity, including the tax-deferred growth of the funds within the contract, as well as the potential for an ongoing income stream in retirement, with guarantees that are backed by the financial strength and claims-paying ability of the issuing insurer.  

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The Pros and Cons of the Most Popular Indexing Methods for Fixed Indexed Annuities

Fixed indexed annuities, or FIAs, have grown in popularity over the past several years. This is due in part to these financial vehicles being able to provide ongoing retirement income in the future, as well as the opportunity to obtain increased interest growth over those of a regular fixed annuity. These product guarantees, of course, are backed by the financial strength and claims-paying ability of the issuing insurer. Fixed index annuity owners are also able to keep principal protected from market risk - even if the underlying index performs negatively. It should be noted, however, that any early withdrawals taken may result in loss of principal and credited interest due to surrender charges.

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How Do Annuity Payments Work?

One of the primary features of an annuity is the stream of income that it can provide. Today, many people own annuities for the purpose of supplementing their other retirement income, such as funds from a pension and Social Security payments.

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What are Annuity Riders?

When purchasing various types of insurance coverage, you may also have the ability to add certain riders. A rider can be defined as an amendment to the insurance policy that will either expand or reduce the policy's benefits.

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5 Myths About Annuities

Over the past several years, annuities have become more popular as a means to help prepare for retirement, as well as a source of lifetime income* for retirees. Yet, probably more than any other financial vehicle, there are many myths that surround annuities, which unfortunately, has led some people away from the benefits that they can provide.

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Annuities 101: Make Your Retirement Income Last A Lifetime

Often we hear the word “annuity” when the winning Powerball ticket has a value of millions of dollars and everyone is dreaming about what they would do with their winnings – and they are asking each other, “Would you take the money in a lump sum or an annuity?”

If you’re like the majority of us who haven’t won the Powerball lottery, then you’re going to have to depend on a different type of annuity. Here are some annuity basics to help you gain a better understanding.

Topics: Annuities