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ANNUITIES PROGRAMS

There are five Basic types of annuities:

  • Fixed Annuities

  • Multi-year guarantee annuities (MYGAs)

  • Immediate Annuities (SPIAs)

  • Fixed index annuities.

  • Variable annuities.

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 Annuities are financial products that offer a guaranteed income stream, usually for retirees. The accumulation phase is the first stage of an annuity, whereby investors fund the product with either a lump sum or periodic payments

IRAs
Individual Retirement Accounts

An individual retirement account, or IRA, provides a tax-advantaged way to save for retirement. Depending on what type of IRA you use, an IRA can either reduce your current tax bill now or at the time of retirement. Any investment gains are usually tax-free.
Also, IRAs are insured by the Federal Deposit Insurance Corporation (FDIC), a government-run agency that provides protection when a financial institution fails. The FDIC covers customer deposits—up to $250,000 per account in most cases—that are held at FDIC-insured banks or savings and loan associations.

ANNUITIES BENEFITS

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  • Annuities offer a stream of income.
  • Provide Tax Advantages.
  • Can Grow Tax-deferred over time.
  • Have no Contribution Limits.
  • In the event of death, annuities also offer riders that allow you to Transfer Money to your Beneficiaries.

Fixed Annuities

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A Fixed Annuity is a financial product that guarantees a specific rate of return—for example, 2%—and provides an income stream in retirement. With a fixed interest rate, you know in advance how much your annuity will grow and how much income it will pay out.

Multi-year guarantee Annuities (MYGAs)

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A Multi-year guaranteed Annuity, or MYGA, is a type of fixed annuity that offers a guaranteed fixed interest rate for a certain period, usually from three to ten years. An MYGA is appropriate for someone who is closer to Retirement and prefers tax deferral and a guarantee of investment return.

Immediate Annuities (SPIAs)

Single-Premium Immediate Annuity

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An Immediate Annuity is an annuity that pays out immediately after it is purchased. When you purchase an Immediate Annuity, you make a lump-sum payment to the insurer in exchange for regular payments that begin immediately and continue for a specified period of time, typically for the rest of your life.  Immediate Annuities are often used as a source of retirement income.

Fixed Indexed Annuities

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A Fixed Index Annuity is an insurance contract that provides you with income in retirement. With a Fixed Index Annuity, payments are based on the performance of a stock market index, like the S&P 500. Unlike owning stocks, you're protected against most losses—but your total returns may also be limited.

Variable Annuities.

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A Variable Annuity is a contract under which the insurer agrees to make periodic payments to you, beginning either immediately or at some future date. You purchase a Variable Annuity Contract by making either a single purchase payment or a series of purchase payments.
Variable Annuities are Investment-Based Retirement Plans. You are investing in stocks, bonds, mutual funds, etc.
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