Immediate Annuity

New Immediate Annuity from Fidelity Investments

Fidelity Investments has recently announced the launch of IncomeSource®, a Single Premium Immediate Annuity underwritten by two Western & Southern Financial Group member companies. The first of it’s kind for Fidelity, the immediate annuity allows individuals to convert a lump sum of money into guaranteed income for either a specific period of time, or for life.“IncomeSource is a strong addition to Fidelity’s lifetime income offerings,” said president of Fidelity Investments... Read More

Common Confusions About Annuities

In recent years, annuities have developed a fairly negative reputation, and while they aren’t for everyone, adding one to your retirement portfolio can be a really good idea. Unfortunately, there are many misconceptions about these financial products, keeping many potential buyers at bay, often times unnecessarily. It’s always recommended that you do your homework before purchasing any retirement savings tool, and annuities are no exception. Before entering into a contract, be sure to... Read More

Fixed Annuity With Income Stream Makes for Happy Retirees

Perhaps the biggest financial challenge facing us today is how to turn our retirement savings into income. In "Advisors Challenged To Convert Savings To Retirement Income," Financial Advisor's Juliette Fairley discussed some of the findings from a recent IRI survey. The Insured Retirement Institute found that 80% of retirees who have at least $50,000 saved get income from an annuity or pension. But pensions will be few and far between in the future, so the focus on annuity products for... Read More

Immediate Variable Annuity Could Be Coming Soon

During the Insured Retirement Institute's recent Annual Vision conference, Wells Fargo Advisors said that they are looking to develop a new annuity product that no one has seen before. Investment News' Greg Iacurci wrote about this annuity in "Wells Fargo mulls development of immediate variable annuity." They're planning to work with insurance companies on an immediate variable annuity product. This type of annuity would work similarly to an immediate fixed annuity, but would have one major... Read More

More Income Annuity Options Needed in DC Plans, Sponsors Request Support

There has been quite a shift in thinking by defined contribution plan sponsors in regards to what the main goal of their plans really is. Defined contribution plans were originally designed for employees to save for retirement and the goal really was who could save the most in their working years and have the highest balance upon retirement. But now, plan sponsors have shifted the goals for their retirement plan participants. The goal has shifted to creating income rather than just building... Read More

Record-Breaking Quarter for Indexed Annuities, But What’s to Come?

Second quarter annuity sales results were recently released by LIMRA Secure Retirement Institute in their Second Quarter U.S. Annuity Sales survey. Fixed indexed annuity products broke sales records during the second quarter. Ironically, last week I blogged about the anticipated 30% decline in fixed indexed annuity sales. What will happen in the FIA industry depends on who you ask, but what is known is that these products have a strong demand from consumers and have been hot sellers in 2016.... Read More

A Charitable Gift Annuity Helps You and Your Favorite Charity

Now might be a good time to consider purchasing a charitable gift annuity. These annuities work in a similar manner to immediate annuities, but you leave money to a charity instead of an insurance company. Dan Caplinger recently took a deeper look at charitable gift annuities in The Motley Fool article "Is a Charitable Gift Annuity Right For You?" These annuities offer lifetime income as well as a nice tax deduction, but they also leave money on your behalf to your favorite charity. This is... Read More

Don’t Base Annuity Decisions on the Wrong Information

There's no bones about it, retirement planning is hard. Many people don't even have enough money to save for retirement and instead rely on government services like Social Security, Medicare and Medicaid. For those of us who do have the ways and means to save for retirement, we have to make a lot of decisions regarding our money and what to do with it. Unfortunately, there are some misconceptions when it comes to making retirement plans. These misconceptions can lead Americans to make mistakes... Read More

Annuities Create Lifetime Income From Retirement Savings

Running out of money in retirement is one of Americans' biggest concerns. They have good reason for this worry. Only 22% of workers in private companies have a pension from their employer that will pay them monthly income. Most of these pension recipients will get income payments for the rest of their lifetime. As lifetime expectancy approaches record highs, having guaranteed lifetime income is crucial to retirement planning. So what about all of those Americans who don't have a company pension... Read More

Longevity Annuity Eliminates Unknowns in Retirement Planning

Michael Kitces published an article for Bank Investment Consultant explaining how "This tool can take the mystery out of retirement planning." The took he is referring to is an annuity product, in particular a longevity annuity. The uncertainty of our life span is one of the hardest parts of retirement planning. We simply do not know how long we are going to live, but we have to plan financially for a long life just in case we have one. No one wants to run out of money during retirement and on... Read More

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