Annuities are a great addition to any retirement plan, seeing as how they provide a secured amount of income down the road. With fixed annuities, there are a lot of benefits for individuals who are conservative when it comes to investing. The main perk of fixed annuities is that the money you invest is guaranteed to grow at a fixed rate of return. So, with fixed annuities, you have a variety of payment options and a guaranteed income down the road.
The primary benefit is most definitely the security that a fixed annuity provides. Your interest and premium are kept safe and are given back even in the case of death. Fixed annuities also take care of spouses in the case of death or entering into health care establishments, so you can ensure that your loved one is still receiving an income. Financial security is something that most individuals worry about as they prepare for retirement, eliminating that through a fixed annuity is a major relief.
Another great benefit of fixed annuities is the tax deferral that annuity products offer. None of the money invested in your annuity will be taxed until it is withdrawn, allowing your funds to grow. This provides the same security mentioned before, your investment is guaranteed to grow and provide for your financial needs down the road!
The benefits continue with the ability to control and transfer your future income stream. You have full ability to determine which type of stream will work best with your financial plan and your goals. You can also schedule out your annuity so that it lasts you the rest of your life, and by selecting beneficiaries you can guarantee that your family is also taken care of after your death.
The benefits to investing in an annuity are incredible, and there’s no reason that you should leave your financial future to chance. Annuity genius and our team of professionals help you work through the process of picking the annuity that best suits your needs. Learn more about the benefits that annuities provide you when you contact us and schedule an appointment with one of our annuity experts.