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Planning to Purchase An Annuity? Consider This First

It seems as if annuities have been a hot topic again as advisers and investors continue to wonder when the next financial crisis will hit. It’s been a decade since the last major downturn causing many folks to start bracing for the next one. Whether looking to maximize the benefits of tax-deferred accumulation or create an immediate stream of protected retirement income, annuities are unique products that might be useful in your portfolio. There are several different types of annuities,... Read More

Annuity Trends: Life-Only Guarantees on the Rise

According to a recent article from InsuranceNewsNet, inquiries about life-only guarantees on income annuities jumped to 26% compared to the previous year, at 22.4%. This is the third year in a row that significant increases in these inquiries were observed. Experts believe this is a result of advisors valuing a higher payout over a death benefit. “When we looked at the data internally that kind of raised some eyebrows,” said Gary Baker, president of CANNEX USA. The trend quotation... Read More

Reduce Your RMD with a Qualified Longevity Annuity Contract

You’ve worked hard your entire life to stash away your hard-earned money into 401(k)s and IRAs, and you’re finally ready to retire. First of all, congratulations! Now, it’s time to deal with your tax dilemma. Generally, you have to start taking required minimum distributions (RMD) when you reach the age of 70 ½, and sometimes this amount can be somewhat substantial. So substantial in fact that it could trigger higher federal income taxes, an increase in Medicare premiums, and taxation of... Read More

Taxes and Your Inherited Annuity

One of the perks of purchasing an annuity is the ability to pass it down to heirs when the time comes. But with this feature comes significant tax implications that your beneficiary must deal with. The potential tax liability could climb as high as hundreds of thousands of dollars, according to a recent article from Financial Planning magazine. If a beneficiary elects for a lump-sum distribution when inheriting a non-qualified deferred annuity, they could pay full income taxes on any earnings... Read More

Brighthouse Financial Expands Shield Annuity Family

In an effort to focus on simplicity, transparency and value in product design, Brighthouse Financial has announced an expansion to its flagship Shield annuity family. The major provider of U.S. annuity and life insurance solutions has made available Brighthouse Shield Level Select℠ 3-Year and 6-Year Annuities and the Brighthouse Shield Level Select℠ Access Annuity, offering a broader range of solutions for more advisors and customers, according to a recent press release. The Shield... Read More

Is an Immediate Annuity Right for You?

Even though the stock market is winding down another good year, there are still many reasons why many retirees are concerned about outliving their savings. The recent rise in interest rates have undermined bond prices, and with additional rises expected, it isn’t hard to understand their uncertainty. One popular option to help calm those concerns and provide stable, guaranteed income in retirement is the immediate annuity. For a single, upfront payment, this financial product provides a... Read More

New FIA from Security Benefit

Whether it’s on travels, new hobbies or grandchildren, many newly retired Americans actively spend in the first ten years of retirement. In an effort to address this trend, Security Benefit Life Insurance Company (Security Benefit) has launched its new fixed index annuity (FIA), Select Benefit Annuity. This product offers contract-holders the ability to accelerate the amount of income withdrawn in the first decade of retirement, giving a little peace of mind, and boost in income, during this... Read More

Top FIA Myths and Why They’re Wrong

Did you know that more than 25 million Americans, aged 60 and over, are living at or below 250% of the federal poverty line, making them economically insecure? It’s understandable why so many retirees are fearful of outliving their money. While Social Security helps, it often isn’t enough to support a full retirement, leaving millions of people in our country struggling to build-up retirement savings to survive on. There are few options for generating income in retirement, especially income... Read More

Three Common Questions About Annuities Answered

Annuities are being used by tens of millions of Americans to create a lifetime retirement income stream. They can be confusing products and people tend to have a lot of questions related to annuity products. Recently, LifeHealthPro published the article "3 frequently asked questions about annuities," a collaboration between Stephan R. Leimberg, Robert J. Doyle, Jr., and Keith A. Buck. Annuities are crucial for retirement planning because they are the only investments that guarantee income that... Read More

Fixed Indexed Annuities Can Fund Long Term Care

Long term care insurance is important right now because Americans have a long life expectancy. The cost of long term care insurance is rising, especially for some Federal workers. In a recent article for Kiplinger, "Alternatives to Long-Term Care Insurance," Investment Adviser Ann Vanderslice talked about what is happening to current and retired Federal workers and what they can do about it. The employees who opted for the Federal Long Term Care Insurance Program are looking at premium... Read More

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