If you’ve ever started to think about options for retirement income and wondered what is an annuity, you may be curious to take a closer look at this uniquely structured fixed income option. Retirement Annuities provide a reliable and stable stream of income throughout retirement.. Here’s a quick deep dive into annuities that could help you decide if you would like to purchase an annuity.
One of the main reasons annuities tend to be so popular is that they provide a steady, fixed income stream during retirement. For many , financial uncertainty and the fear of outliving savings can easily mar their retirement years and cause significant stress. With an annuity, on the other hand, you know you’ll have a set amount of money coming in. Remember that annuities typically:
Although all annuities share a few key features, there are several variations available. While all annuities are regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority, and all annuity brokers are required to obtain certain licenses, different annuities offer different structures. Some of the most common types include:
For those currently in the early phases of retirement planning, having an annuity could be an attractive prospect due to its guaranteed income promise. If you’re mainly concerned with having an income stream in retirement and want to lower your financial risk, an annuity could be right for you. Annuities are typically most appropriate if you:
If you’ve been considering putting a lump sum of money away into Retirement Annuities to ensure a fixed stream of stable income once you retire, we could help provide you with the information you need to make a well-informed decision. Now that you’ve taken a deeper look at annuities, their common structures and their top benefits, you may decide that it is an appropriate choice for your retirement.
At 1891 Financial Life, we pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs.
Our portfolio is extensive, ranging from various life insurance policies to our MYGA to support your financial needs no matter what stage of life you’re in. For more information, contact us at (855) 804-7424.