Annuity Contracts
Annuity contracts come in different size and shapes for different needs and goals.
Insurance Companies provide annuity contracts that are guaranteed.
The happiest Retirees are those that that don’t have to worry about running out of money.
Uncertainty. The Retirement Years can bring lots of uncertainty– and regret.
Annuity contracts come in different size and shapes for different needs and goals.
Some Retirees are looking for simple GROWTH of their Savings guaranteed for a set amount of years.
Other Retirees look for GUARANTEED INCOME from their savings. They want to cover ALL of the REQUIRED monthly expenses– now and in 15 years from now. (Most couples realize Social Security only covers 40% or so of their monthly expenses.)
Annuity Policies can be very powerful in these Retirement Years.
But it takes time to learn, understand, and review personal objectives to see how an Annuity Policy can add security, control and growth for the future.
Maybe you already have an Annuity Policy and wonder what it is all about? Mark Rogers can review and share insight as to the possibilities of your older policy.
Whether you are new to Retirement or been down the road for a bit in Retirement, its NEVER TOO LATE to learn how to secure your Savings and build your INCOME.
With Annuity Planning, You Will be Faced with Questions like:
“Annuities are financial contracts with Insurance Companies in which there are guarantees provided — in different forms. Some guarantee income and others guarantee growth. There might be some period of time involved, say 3 years or 10 years maximum. The Insurance Company gives these guarantees which help Retirees based on holding the money for the set period of time. Many annuities now have provisions to pay out immediately based upon some kind of medical expense, which is often the reason that a Retiree needs money in a hurry. Learning the specifics and seeing the benefits can greatly help misunderstandings.”
“An annuity contract will offer ‘tax-deferral’, which allows the money to grow without being taxed from year to year, unlike a Bank CD. Another benefit is that a Fixed Annuity can have a longer time horizon than a Bank CD, thereby giving guarantees in a longer time horizon. Thirdly, an Annuity will avoid the Probate process by paying directly to the named Beneficiaries, whereas a Bank CD may go through the Probate process.”
“First, what purpose will the Annuity have in the Retirement process? Second, choosing the right class of annuities with minimal or no fees is important so to allow growth without these drains. Lastly, the financial standing of the Annuity Company along with the Customer Service (along with the agent) can be very beneficial as well.”
“In the general sense, there are Growth Annuities which grow the Savings either on a fixed/determined amount, or on an index. Then there are Income Annuities, which can start income within the month, or 10 years out. And there are also Annuities that defer IRA distributions as well, which can be beneficial in some aspects.”
As most Rural Retirees want security, growth and control of their Retirement Savings, it is imperative to understand how Annuity Policies can support those objectives as Retirees move past their 70’s and go into their 80’s and 90’s. Mark Rogers provides simple and easy-to-understand language to assist in learning how Annuity Policies can be beneficial for Retirees who desire to have a happy, consistent Retirement while minimizing regrets.
Talk with Mark and take notes for your own learning today!
