Have you thought about an Annuity?
What is an Annuity? Why should I consider an annuity? Is it right for me to put my money in an annuity?
We get these questions often.
An annuity is an insurance contract that pays you money for a certain length of time. We call this the annuitization phase of the insurance contract and it’s what makes an annuity an insurance product.
Annuities are much like social security. Once a person starts the payout, it’s guaranteed forever.
With annuity’s you can decided to park your money in the account and collect a guarantee interest rate that is tax deferred or wait to a certain date and exercise the “insurance” side of the contract to start payments.
If a person does not want to start the insurance contract annuitizations you can always surrender the contract and get your money out plus the interest.
Maybe it’s time to give annuities a second look in your wealth creation/distribution plan?