Annuities

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What are Annuities?

Annuities are financial products that offer guaranteed income payments over a set period. They are typically purchased from insurance companies, and the payments are made either as a lump sum or in regular installments. Annuities can be classified into two broad categories: immediate and deferred annuities. Immediate annuities begin paying out immediately after purchase, while deferred annuities have a waiting period before payments begin.

Benefits of Annuities

Types of Annuities:

Here's an overview of the most common types:

1. Fixed annuities: Fixed annuities offer a guaranteed rate of return over a set period, making them a reliable option for investors who want to minimize risk.
2. Variable annuities: Variable annuities allow investors to choose from a range of investment options, offering the potential for higher returns but also greater risk.
3. Indexed annuities: Indexed annuities provide returns based on the performance of a specific index, offering a balance between fixed and variable annuities.

In conclusion, annuities can be an attractive option for anyone looking for a reliable source of income and tax benefits. With various types to choose from, you can find one that suits your financial goals and risk tolerance. Contact us today to learn more about how annuities can benefit you and your financial future.