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Annuity Basics Posts

What Is a Tax-Free 1035 Exchange?

February 03, 2016

Are you interested in upgrading your annuity to one with better features and/or a higher interest rate? In most cases, the IRS allows what is known as a 1035 exchange of non-qualified annuity contracts between insurance companies. A 1035 exchange lets you switch companies while continuing to defer taxes, ensuring that your annuity stays up-to-date… Read more

The Pros and Cons of Variable Annuities

February 03, 2016

In the recent past, variable annuities have received both positive and negative attention in the media. Many articles have been published that detail variable annuities’ high potential market gains, but many more have been published describing excessive variable annuity fees, unethical sales practices, and the risk of losing principal. You may wonder if you are… Read more

Sell Your Annuity or Structured Settlement for Cash

February 02, 2016

Annuities are great retirement savings and guaranteed income products. While there are many benefits to owning an annuity, sometimes life’s circumstances change and there may now be a compelling reason to sell your annuity or structured settlement payments for cash. However, in most cases you can’t cash in a structured settlement or an annuity that… Read more

Annuity Education: What Are Retirement Annuities?

February 02, 2016

When someone uses the term, Retirement Annuity, they are usually referring to a particular type of annuity product called a Single Premium Immediate Annuity (SPIA). For that reason, and for the purposes of this article, we will be using both terms interchangeably. First of all, you should understand what a retirement annuity is. Retirement annuities… Read more

Enhancing Retirement Income with Single Premium Immediate Annuities (SPIA)

January 30, 2016

An immediate annuity is one of the only products available to retirees that provide a guaranteed lifetime income. In other words, once you establish a life payout immediate annuity, the income payments last as long as you do and cannot be outlived. When initially learning about immediate annuities, many individuals first impression is that it… Read more

Fixed Annuity Considerations – The Many Benefits of Fixed Annuities

January 30, 2016

Fixed annuities, also referred to as tax-deferred fixed annuities, are available in many different product designs and configurations, but are at their core, a contract between an owner and an insurance company for an interest bearing policy that includes optional guaranteed income choices. With a fixed annuity, the insurance company typically credits interest annually, but… Read more

Bank Certificates of Deposit (CDs) vs Fixed Annuities

January 15, 2016

Multi-Year Guarantee Annuities (MYGAs), also called Fixed Rate or CD-type Annuities, are a type of fixed annuity that provide a pre-determined and contractually guaranteed interest rate for a specified period of time, most commonly 3-10 years. For this reason, they are often compared to Bank CD’s. Please watch this short video for a good comparison… Read more

Fixed Indexed Annuities and Hybrid Annuities and Income Riders, Oh My!

January 12, 2016

A fixed indexed annuity is a type of deferred annuity that credits interest based on the performance of a stock market index, such as the S&P 500. The policyholder’s funds are not actually invested in the stock market, but rather, the performance of the market index the annuity is tied to functions as one of… Read more

Index Annuities – Enhance Your Retirement Savings with an Indexed Annuity

January 11, 2016

An indexed annuity, also called a fixed indexed annuity, is an insurance contract that provides you with the opportunity to enjoy interest rates that are tied to the performance of a stock market index, such as the S&P 500, without the worry of losing any of your money in a downturn. Your original principal and… Read more

Equity Indexed Annuities – Now Called a Fixed Index Annuity

January 11, 2016

Equity Indexed Annuities were first introduced in 1995 as an innovative new product design that allowed individuals to earn interest based on the performance of a stock market index, most commonly the S&P 500, without any of the downside risk. Starting in 2006, the industry began renaming the product, removing the word equity, to help… Read more