Immediate Annuities

Annuity Advantages

An annuity is a contract between you and an insurance company, whereby you give the insurer your premium dollars, and in return the insurer guarantees you certain benefits. While annuities are not life insurance policies, they are typically issued by life insurance companies and are considered insurance products. All annuities offer tax advantages, but they are all unique depending on the type of annuity product purchased. Here’s a look at 9 distinct advantages available via the plethora... Read More

Need Retirement Income Now? Consider an Immediate Annuity

For most retirees, the biggest fear later in life is running out of money. One of the only solutions to this issue is purchasing a life-long stream of income, or annuity product. With an immediate annuity, you pay a lump-sum up front and then begin receiving a regular income stream right away. While these products have traditionally been fairly inflexible, newer options are meeting the needs of more investors.Immediate annuities traditionally paid out fixed amounts with no adjustment for... Read More

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

Keep It Simple When Shopping Annuities

One of the most common phrases surrounding annuity product is that they aren’t bought; they are sold. The saying originates from the fact that annuities are often very complicated and can sometimes be very expensive, often carrying heavy commissions for advisors who sell them. Unfortunately, the saying has proven to be true in many circumstances.It’s important to keep a few key ideas in mind when considering the purchase of an annuity. Remember that annuities are insurance products... 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

Annuity Laddering and Your Retirement Savings Strategy

Concern over outliving retirement savings is very legitimate as life expectancies continue to lengthen. One method of providing peace of mind over this worry is through annuity-laddering. Annuity products can help provide a lifelong cash flow, but because they often can be illiquid and relatively expensive, they aren’t for everyone. Here’s a more in-depth look at this financial strategy, from the financial experts at Financial Planning magazine.Annuity ladders come in a variety of... Read More

Should Your Retirement Plan Include an Annuity?

Most people who have started to think about their retirement plan realize that a pension or Social Security alone will not be enough. It’s important to pan and save using an array of strategies. Some of your funds will likely come from Social Security and some from personal savings. If you don’t have a pension to rely on, you might want to consider buying an immediate annuity to help guarantee you’ll have some monthly income throughout your lifetime.Annuities are basically contracts... Read More

Retirement Literacy Study Confirms Lack of Knowledge

In an effort to study the retirement literacy of American adults nearing or in retirement, the American College of Financial Services conducted an online survey of consisting of 38 questions. Participants were aged between 60 and 75 years old with at least $100,000 in household assets, not including their primary residence. According to a recent Chicago Tribune article about the research, the results were startling, showing a significant lack of knowledge in several key areas.74 percent of... Read More

Ideas to Increase Retirement Income

Having enough money to support a full retirement is a concern of most pre- and current retirees. The financial experts over at The Motley Fool, an international multimedia financial services company, have offered up the following four methods to help boost income in retirement.1.  Delay taking Social Security benefits.Once you reach the full retirement age for Social Security purposes, you are eligible to claim your benefits in full. That retirement age is determined based on the year... Read More

Annuity Questions to Ask Before You Buy

In order to guarantee a stream of income in retirement, many retirees are transforming a portion of their savings into an annuity. An annuity is an insurance product that transfers risk to the insurance company for a fee. According to a recent article from Bankrate, the fees are often worth it when you consider that investors are transferring longevity risk, investment risk and interest rate risk.The most common types of annuities are deferred and immediate annuities. A deferred annuity is... Read More

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