- Fixed Annuities
when it comes to how you’ll create and draw your retirement income.
As you make decisions about how you’ll fund your retirement, you must first consider a few
key questions:
What are your short-term and long-term goals?
A fixed annuity is great for people who:
- Are looking for tax-deferred growth.
- Want a fixed rate of return so they know exactly what their money is earning.
- Want minimum guarantees not available in other financial vehicles.
A fixed annuity is a contract that lets you invest your money and in return, you get a fixed,
stated rate of return. The interest rate is guaranteed for a certain period of time, such as a
year, and then the rate will change, based on current market conditions.
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TheLifeInsuranceGroup.com- Independent General Insurance Agency,
Licenced in the state of Maryland only.
PO BOX 26537 | Baltimore, MD 21207
Main Line: 410-456-5356 | Fax: 410-448-1390
Licenced in the state of Maryland only.
PO BOX 26537 | Baltimore, MD 21207
Main Line: 410-456-5356 | Fax: 410-448-1390
There’s also a “minimum” guarantee rate so you know that your
money will always earn a certain amount no matter how low
interest rates fall.
While your money is in the annuity that rate of return grows tax-
deferred, meaning you will not pay any taxes on the growth of your
money until you decide to make a withdrawal.
Your money actually grows faster in the annuity and continue to
compound.
What is your risk tolerance?
It’s important to remember that an annuity is for long term
investing. If you need money from your annuity in the early years
of your contract, there may be a surrender charge if the amount
you need is more than the free withdrawal amount you’re allowed
to take each year, usually 10%.
A fixed annuity will allow your money to grow tax-deferred, make
sure that you are in it for the long haul, too. Penalty tax can be
asserted if a withdrawal is tacking before the age of 591/2.
Similar to IRAs, you have to start taking money out of your when
you turn 70 ½ even if you don’t need the income. Well, as long as
your annuity is not in an IRA, you don’t have to take that money
until you’re ready to. (If the annuity has a stated maturity date or
age, such as age 100, you would have to take it then.)
money will always earn a certain amount no matter how low
interest rates fall.
While your money is in the annuity that rate of return grows tax-
deferred, meaning you will not pay any taxes on the growth of your
money until you decide to make a withdrawal.
Your money actually grows faster in the annuity and continue to
compound.
What is your risk tolerance?
It’s important to remember that an annuity is for long term
investing. If you need money from your annuity in the early years
of your contract, there may be a surrender charge if the amount
you need is more than the free withdrawal amount you’re allowed
to take each year, usually 10%.
A fixed annuity will allow your money to grow tax-deferred, make
sure that you are in it for the long haul, too. Penalty tax can be
asserted if a withdrawal is tacking before the age of 591/2.
Similar to IRAs, you have to start taking money out of your when
you turn 70 ½ even if you don’t need the income. Well, as long as
your annuity is not in an IRA, you don’t have to take that money
until you’re ready to. (If the annuity has a stated maturity date or
age, such as age 100, you would have to take it then.)
What are your expectations for returns on your saved or invested money?
Many people think that an annuity means you get an income stream for the rest of your life…and that’s it.
Well, if that’s what you want, we’re happy to help you. But truth be told, our customers rarely take that option.
There are almost as many income and withdrawal options on annuities as there are types of annuities.
When you’re ready to start living the good life and spend your annuity, you can:
If you die while your annuity contract is in force, and you have named a beneficiary, the full value of your fixed annuity will
pass to your heirs without the cost and delay of probate. If you have already annuitized your contract for a guaranteed
income stream, the income option you chose will determine how much money goes to your heirs.
Depending you and other important factors, fixed annuities may be a good choice for a portion of your retirement savings.
Fixed annuities can help you reach your retirement-planning goals with the choice, control, and flexibility they offer.
Annuities offered through TheLifeInsuranceGroup.com can provide you:
CHOICE
Depending on the type of annuity and your risk tolerance, you can choose how your money earns interest.
CONTROL
Certain annuities allow you to control your retirement income. You decide how much guaranteed income you want – and
when you want it.
FLEXIBILITY
TheLifeInsuranceGroup.com offers innovative living benefits, death benefits, income options, and contract guarantees. You
have the flexibility to choose the annuity options that are right for you.
Learn more about annuity choices offered through the Life Insurance Group by visiting us. We can help you determine what
type of annuity may be right for a portion of your retirement savings.
Many people think that an annuity means you get an income stream for the rest of your life…and that’s it.
Well, if that’s what you want, we’re happy to help you. But truth be told, our customers rarely take that option.
There are almost as many income and withdrawal options on annuities as there are types of annuities.
When you’re ready to start living the good life and spend your annuity, you can:
- Take random “lump sum” withdrawals any time you want.
- Set up a systematic withdrawal program. You tell us how much you want and how often, when to start and when to stop.
This gives you the most flexibility, but you could outlive your money if you spend too much too fast. - Set up a guaranteed income stream. This is the option where we will guarantee your income for you, regardless of how
long you live, even if you make it to 120. But, you won’t have quite as many options for changing your decision later.
If you die while your annuity contract is in force, and you have named a beneficiary, the full value of your fixed annuity will
pass to your heirs without the cost and delay of probate. If you have already annuitized your contract for a guaranteed
income stream, the income option you chose will determine how much money goes to your heirs.
Depending you and other important factors, fixed annuities may be a good choice for a portion of your retirement savings.
Fixed annuities can help you reach your retirement-planning goals with the choice, control, and flexibility they offer.
Annuities offered through TheLifeInsuranceGroup.com can provide you:
CHOICE
Depending on the type of annuity and your risk tolerance, you can choose how your money earns interest.
CONTROL
Certain annuities allow you to control your retirement income. You decide how much guaranteed income you want – and
when you want it.
FLEXIBILITY
TheLifeInsuranceGroup.com offers innovative living benefits, death benefits, income options, and contract guarantees. You
have the flexibility to choose the annuity options that are right for you.
Learn more about annuity choices offered through the Life Insurance Group by visiting us. We can help you determine what
type of annuity may be right for a portion of your retirement savings.
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