An annuity is a contract in which an insurance company makes a series of income payments at regular intervals in return for a premium or premiums you have paid. Annuities are most often bought for future retirement income. Only an annuity can pay an income that can be guaranteed to last as long as you live. Annuities can help protect against outliving your earning years or your retirement resources. Compound interest is credited to these payments and the earnings are not currently taxed during the accumulation period, which is an important reason why people purchase annuities.
Annuities have advantages in a number of situations:
Well-off individuals may purchase annuities to secure future income, even if their other holdings become lost. They seek the safety, tax-favored treatment and guarantees that annuities have to offer, rather than the yield.
Middle-aged and elderly people with modest estates may rely on annuities to help provide a continuous source of income that cannot be outlived. In addition, they will be free of the responsibility of investing and managing assets.
Annuities are attractive to those who have yet to accumulate estates but want financial independence in retirement.
It is important to consider several factors like you risk tolerance etc. before designing a well researched Annuities Insurance for your needs. At All Solutions Insurance, we have been offering lower priced whole life insurance combined with outstanding service to protect your loved ones against unanticipated situations since 1994. Our knowledgeable Life Insurance experts communicate with you, understand your unique insurance requirements, customize your policy to ensure optimum protection and then shop from more than 30 reputed insurers to offer the best possible rates so you cave money.
Talk to one of our Life Insurance experts and let us take care of your risks. You can call us at 951-247-2003, or click here to chat with us.