What is an Annuity?
Retirement is no longer as certain as it once was: pensions and 401(k) plans aren’t offered by all employers and when they are, they come with heavy taxes and can be at risk in the market. People are also living longer due to advances in medicine, so outliving financial resources is a real concern for most Americans. An annuity can be a great solution to these problems because it is a secure retirement strategy that can guarantee income for your retirement.
If you don’t want to risk losing part of your retirement savings in equity based products with the risk of market losses, an annuity is a great alternative. Fixed and Index annuities offer protection for your principal as well as the gain you receive each year. Your money is never at risk due to market losses because there are minimum guarantees in the contract that protect you.
As you know, the United States population is aging and people are living longer. More than 8,000 people turn 65 every day and more people are living into their 80s and 90s. It’s a realistic concern that you’ll outlive the money you have saved for retirement. Many of the annuity products that we offer come with a guaranteed retirement income that cannot be outlived, no matter how long you live or how much retirement savings you have accumulated!
Annuities are tax deferred, meaning the money will accumulate without you having to pay tax on the gain until the money is withdrawn in the future. Tax deferral can be a huge benefit.
Annuities also avoid the costs & delays of probate, giving your loved ones access to the funds quickly when you pass away, if you haven’t used all of the cash value during retirement.
How Can an Annuity Help You?
Do you know how much money you will need in retirement? Have you considered what could happen if you outlive your retirement savings?
No matter how well you plan, factors like inflation, tax hikes and increased medical expenses can potentially eat away at your retirement savings, forcing you to suffer a lower quality of life or rely on your family for financial support in your golden years. An annuity can help you avoid a future dilemma and safeguard your financial security by providing you with guaranteed income throughout retirement. In fact, you can structure an annuity to pay you for the rest of your life, even if you live to be 100. You can also use annuities to transfer wealth to the next generation while avoiding probate.
The best part? There are no monthly premiums, and your annuity is guaranteed to never lose money. For a free annuity quote and personalized help with your retirement planning, simply fill out the form on the right. Our highly trained annuity specialists are happy to explain the options available to you, and help you find the right annuity to fit your income needs.
Retirement planning can be a bumpy road. Without the right investment vehicle, you may outlive your savings or suffer a lower quality of life to make ends meet. The government doesn’t make it easy, either. Taxes, Medicaid, estate planning, and a variety of other factors add to the uncertainty, putting your financial security in question.
Retirement is your opportunity to live your dreams. Don’t spend it on a modest income or, even worse, burdening your family financially. With an annuity, you can have a guaranteed income for the rest of your life, so you can enjoy your golden years without worrying about money.
Let our personal insurance advisors help you enjoy a stress free retirement so you can be free to do whatever you want.
If you’re planning for retirement, you can obtain a free annuity quote by filling out the form on this page. Our team of personal insurance advisors will work with you to develop a plan that fits your budget and income needs.