Some Facts About Annuities
What Are Annuities?
An annuity is a contract between you and an insurance company that is designed to meet retirement and other long-range goals, under which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date.
Annuities: Wisdom With Benefits
Having an annuity with your insurance company is a wise choice for an investment. Many insurance companies offer a wide variety of annuities because of the benefits that they provide to their customers. Some of the main benefits of investing in an annuity with your insurance company are: Lifetime Income, Inflation Protection, Principal Protection, and Tax Efficiency
Annuities: The Disadvantages
While having an income that is steady over a long period of time sounds great by itself, there are down sides to purchasing the wrong annuity for you or your household. It is important to keep several factors in mind when purchasing annuities. In comparison to municipal investments or CD's, annuities tend to have a lower return rate, even if purchased at a fixed rate. Talk to an insurance provider to get an annuity that's right for you.
Every annuity is different so you must be careful to choose an annuity that fits you, your family and your wealth management goals.
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