I have heard a lot about annuities…do I need one - do I need more than one?

It depends.


Annuity is another form of a life insurance contract.  Bottom line, we need to chat.  They are right for some people and you might be one.  So let me leave you with 7 reasons to consider an annuity:

1) Safety

Ensure your surviving spouse has a continuing income. Ability to provide money in case of a catastrophic illness or if you (or your spouse) need to enter a nursing home.

2) Liquidity

Flexible access to your funds with a variety of surrender-free withdrawal options.

3) Tax Deferral

Earnings will not be taxed until you make withdrawals or start taking regular distributions.  Benefit from triple-compounding: earning interest on principal, interest on interest, and interest on what you would have paid to taxes.

4) Control

Ability to choose a predictable income stream.  Lifetime Income options: payments continue for as long as you live.

5) Accumulation

Long-term savings plan for future income stream.  Principal protection: Deferred index annuities never lose value in a “bad” year, while capturing some growth in a “good” year.

6) Diversification

Deferred index annuities are able to have credited interest tied to an index, such as the S&P 500, without downside risk. Supplement your retirement income.

7) Estate Planning

Proceeds are paid directly to your named beneficiary.

All guarantees of a Fixed Annuity are backed by the claims paying ability of the issuing insurer.

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