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 undersand 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.