Fixed Annuities – A Reliable Support for Retirees
Fixed Annuities A Reliable Support for Retirees
Every individual at some point or the other aims for long-term savings. There are plenty of financial schemes available. Amongst the many, an annuity can be your best option. Well, you are quite aware of insurance policies and its benefits. For an insurance policy, you have to pay a premium on a monthly basis. If at any point of time, you face any damage caused to your property, its your insurance scheme that helps you to get your money back from the insurer. It simply serves as an alternative to the loss that you have been subject to. An annuity is almost similar to an insurance policy. Now, as far as annuities are concerned, they help you to make periodic payments. However, if you wish, you can make your payments for any insurance purpose. Nowadays, most retirees are opting for fixed annuities. You can always contact an agent to know the best annuities rates and suitable schemes.
Annuities are basically of two types Fixed and Variable. For availing fixed annuities, you will receive an assurance from your insurance company for earning good interest rates. In fact, your account gets boosted up to a good extent. You must always look for profit and fixed annuities guarantees you with a steady income. Moreover, you can always take advantage of periodic payments. However, you can enjoy this facility only for a fixed period of time. The time period might be thirty years or your entire lifetime. In the case of variable annuities, you are permitted to invest your purchase payments out of certain investment options like mutual funds.
Its important for every individual to go through certain rules and regulations before opting for any sort of financial schemes. It goes same for annuities. The first and the most important thing is to look for a reliable insurer. Your initial concern will be to look for a good and reliable insurer. Remember, he will be the major source looking after your annuity and fixing up annuities rates. However, there are plenty of financial institutions where you can opt for annuities. There are in fact private agents who will provide more information on annuities rates. Moreover, the online option is also there for gathering facts on fixed annuities and other relevant information.
For retirees, a deferred annuity can be an excellent option. Its a type of long term personal retirement account. If you are applying for a deferred annuity, it can definitely boost up your assets. Every retiree plans for a steady income after retirement and therefore a deferred annuity can be a wonderful option. CD-type deferred and Annually Renewable deferred types.
A CD-type deferred annuity is one of the fixed annuities. Here the guarantee period for interest rate is just the same to the surrender penalty period. Suppose you buy a five-year CD-type deferred scheme. So you will get the stated interest rate for all the five years provided that you remain committed to your contract for the full period. Another great option is an Annually Renewable deferred scheme which is also known as annually renewable deferred annuity. If you are still perplexed with the thought whether you should opt for fixed annuities or the variable ones, you can always call up an agent. Visit the relevant sites and know everything from annuities rates, policies, discounts to other annuity types.
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