Annuities
There are two types of annuities, the immediate and deferred annuity depending on how payments are made. Immediate annuities begin immediately, that is the consumer starts to get payments immediately.
A deferred annuity is designed to grow over time until payments start.
Within the annuity world there are fixed and variable annuity contracts. With a fixed annuity, the insurance company guarantees the consumer a specific payment at a future time. With variable annuity contracts, the insurer invests in a portfolio of mutual funds chosen by the consumer. Payment is established based on resulting performance of these mutual funds when consumer triggers payment of the annuity.
Annuities are insurance products designed to provide consumers with guaranteed income for life. The annuity contract is a legally binding, written agreement between a consumer and the insurance company issuing the contract. Risk of outliving your savings is transferred from the consumer to the insurance company.
Most annuities are designed to supply a stream of income a person can’t outlive. By a consumer providing a lump sum payment or an installment, this insurance product grows tax-deferred until annuitization, or distribution of the annuity begins.
Annuities can be an important part of a retirement and should be looked at a possible solution.
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Suite 200, Houston, TX 77070
Investment advisory services are offered through Bee Financial Partners Wealth, a Registered Investment Advisor. Investments through Bee Financial Partners Wealth are not FDIC insured, not bank guaranteed, may lose value, including loss of principal, not insured by any state or federal agency.