Income Solutions

Fixed Annuities

A fixed annuity is a retirement savings vehicle - it's a contract between you and an insurance company. In return for making one or more premium payments, you earn a fixed rate of return. Upon annuitization, you can elect to receive payment all at once or as a series of fixed payments, even for the rest of your life. All guarantees are backed by the continued claims-paying ability of the issuing insurance company.

Before you buy a fixed annuity, however, you should understand how it works, its features, benefits, surrender charges, and limitations. Fixed annuities are designed for long-term investing to help meet retirement and other long-range goals. Fixed annuities are not suitable for short-term goals because substantial tax penalties and early surrender charges may apply if you withdraw your money early. In addition, withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.

We have a wide range of fixed annuities available to meet various client needs. Call me to discuss if a fixed annuity might be the proper investment to meet your needs.

Single Premium Immediate Annuities

A Single Premium Annuity (SPIA) is a contract between you and an insurance company. By paying in a lump sum of money, you are guaranteed to receive a series of payments over a period of time. The amount of the payment is determined by both the current interest rate at the time your contract is issued and by choices you make from a wide-variety of payment options. Once your contract is issued, your payments are fully guaranteed for the period of time you have chosen. All guarantees are backed by the continued claims-paying ability of the issuing insurance company.

We have a wide range of Single Premium Immediate Annuities available to meet various client needs. Call and speak to me to discuss if a SPIA might be the proper investment to meet your needs.

*This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. This is intended to assist in educating you about insurance generally and not to provide personal service. 


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