What is an annuity?
A fixed index annuity (FIA) is simply a contract between you and an insurance company. Annuities can help address some common financial concerns, from helping you save for retirement and providing a level of protection for your retirement savings to helping address inflation and longevity.
How do I pay for an annuity?
You pay the insurance company one or more purchase payments ("premiums"). In exchange, you get the benefits the insurance company guarantees through your annuity contract.
Are there any fees associated with an annuity?
Like many financial products, FIAs carry some fees to help support guarantees and provide valuable benefits.
When can I access my money from an annuity?
Many of today's FIAs have surrender periods of less than 10 years. Common annuity features include penalty-free withdrawals, nursing home provisions, and full accumulation value paid to beneficiaries at death.
Do I get to choose a beneficiary?
Yes! Your beneficiary is entitled to your contract's death benefit, or remaining guaranteed payments. Most often, the death benefit is equal to accumulation value.
How do I know which annuity is right for me?
The first step is to request a strategy session with me! We'll review your current financial situation, evaluate your short-term and long-term goals, and review current annuity benefits.