Variable annuities are the highest selling annuity product. However, this doesn’t mean that every variable annuity product will be a good one. Knowing the difference, and what to look for as you invest in a variable annuity, can help you confidently make the right decision in your investment.
The first step that any investment in annuity should begin with is by talking to an annuity expert and discussing the expectations that you have from your investment, and determining with them which type of annuity product will be the best fit. The experts at Annuity Genius manage your annuity and walk you through the whole process so that you can be sure that you’re getting the best fit for you.
These types of products provide you the opposite of life insurance; you pay a sum of money up front and then receive monthly income for either a specific amount of time or for the remainder of your life. These products provide an opportunity of growth and protection over time.
A huge benefit of variable annuities, and the one that is most commonly noted, is that variable annuities have tax deferral for the money that builds up. The earnings from your annuity are tax-deferred until you begin receiving the payments for your annuity. This particular type of annuity product also provides a comfort in finance seeing as how payments can continue for the rest of your life.
These are fantastic pros to investing in a variable annuity, so what are the drawbacks? The most commonly found drawback is that most people don’t understand what they’re getting into because of how complex, and dense, the contract can be. Luckily, the experts at Annuity Genius make this process incredibly easy by breaking it down so that you understand what the annuity entails and where your money is going and that the annuity that you invest in really is the best for your needs.
Annuity Genius understands the investment you’re making when you purchase a variable annuity. Our team of professionals manages each of your investments to ensure you get the most out of your annuity. Contact us today with any questions that you have regarding your investment.