Understand the features and benefits of annuities

Tuesday, January 02, 2024 06:00 AM - Comment(s)

Understand the features and benefits of annuities

There are several types of annuity products available to choose from. Whether you’re looking for income options, legacy planning tools or spousal protection, your advisor can tailor a plan to meet your specific goals. For this reason, each annuity will differ in terms of:

Time frames
Fees
Rider options (lifetime income and death benefits)
Tax implications
Risk/reward

Flexibility
Rate lock-ins
Payment dates
Security
Spousal protection

Find the right fit!

Variable annuity

Greater opportunity for growth and more risk exposure

This may be a good option for you if you want the long-term opportunity for growth in the market and are able to handle the risks that come with the market's ups and downs.

Fixed indexed annuity

Guaranteed protection plus growth potential

This option may appeal to you if you want a chance for upside gains in a good market while also receiving a level of protection from possible downturns.

Immediate annuity

Immediate guaranteed income

This option is designed for people who plan to withdraw money in the first year, or for someone who has access to other retirement income and wants the security of a guaranteed income for the rest of their life or for a set period of time.

Fixed annuity

Guarantees with some growth

This may be a good choice if you want a guaranteed interest rate without market participation (minimal investment risk, but still a chance to grow money at a set interest rate).

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