Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

An Immediate Annuity Protects Your Tomorrow


By

By choosing an immediate annuity at the beginning of your retirement, you ensure that all of your tomorrows are protected.  In the Business Day article, “With annuity, you can decide tomorrow’s income stream today,” Modestus Anaesoronye says that there are some things to take into consideration before choosing your immediate annuity.  Two of the most important things to consider for your immediate annuity are the safety of the insurance company carrying your guarantee and the price, or how much monthly income you will receive.  While most states guarantee some amount of your annuities if the insurance company becomes insolvent, it is best to find a strong company with good ratings.  Make a monthly budget in retirement to determine how much you will need to receive from your annuity to cover expenses not covered by social security or other income you’ll receive.

The article offers five things to consider when you are looking for an annuity.  The first is to shop around because even the best-rated companies compete with each other and offer deals from time to time that make their immediate fixed annuities better than someone else’s.  Don’t take a risk with your annuity purchases.  They should be the safest part of your investment strategy; use stocks for your riskier investments.  It’s not a bad idea to diversify and buy a few annuities from different insurers to get added benefits and safety.  Keep your annuity purchases simple.  If you want to add death benefits or inflation adjustment that is great, but don’t add a bunch of riders that you really don’t need.  Make sure that you know the commissions you’ll be paying up front and in detail.  Any commissions paid come out of your monthly income, so make sure they are fair and transparent.  An immediate annuity is a great product to finance your retirement, so do some research and protect your tomorrows.

Written by Rachel Summit

Follow Rachel Summit on Twitter https://twitter.com/#!/financemama

 

For more information about the product mentioned in this article contact us here:

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).