What is a Hybrid Annuity?
A hybrid annuity is an insurance contract that allows you to deposit annuity funds into both a fixed and a variable component. In contributing to both fixed and variable options, the annuity owner is able to obtain a guaranteed return, while at the same time participating in other types of investments that can offer additional growth of their funds.
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“‘Hybrid’ is a liberally used term and when considering investing should be handled with care. The term ‘hybrid’ refers to multiple benefits and crediting options that are normally associated with the purchase of a fixed indexed annuity. There are several key factors to determine the quality of the ‘hybrid’ annuity you are considering and in most cases the fees should be factored prior to examining the benefits added. Indexed annuities come in all shapes and sizes and a few of the benefits that are normally associated with these products are the following: Account growth during deferral, guaranteed income stream for life, long-term care benefits, principal protection and survivor benefits. A common mistake made by private investors is confusing income benefit growth with account growth. Account growth can be associated with the contract value and income benefit value or benefit base is the value from which income payments or lifetime payments are calculated. With due diligence a ‘Hybrid’ or indexed annuity can be a powerful investment vehicle that provides index growth and lifetime income.”
David Smith, Financial Advisor
Annuity FYI Expert