Annuities
Annuities are designed as retirement vehicles. Annuities are a perfect fit for many people. Annuities are not for everybody. When shopping for annuities, here’s what to look for:
- An agent that will provide options—not push the highest commission product
- An agent that will clearly explain the differences between options
- An independent agent with access to multiple quality issuers
- An advocate who will shop for the best prices—not push the “company” plan
- The ability to talk to a real person, not a web site
- An agent licensed and experienced with different types of annuities
- An agent who is available to answer questions once the annuity is issued
- An agent who can clearly explain the tax features of annuities (tax advice should be from a qualified tax advisor)
- Many annuities have options with guaranteed death benefits, guaranteed return of principal, etc. Your advisor should be able to clearly explain these features.
To learn more about annuities*, click here or call Summit Brokerage Services, Inc. at 706-576-4422 or 678-364-9330.
*The initial consultation is at no cost.
Nice things to know:
- All annuities grow tax deferred
- The IRS does not limit the contribution amounts to annuities, unless it is an IRA.
- You can use an annuity to receive a guaranteed lifetime stream of income.
- Annuities can be immediate or deferred.
- Annuities can receive fixed (guaranteed) or market rates of return. Indexed-annuities use a combination of the two with a minimum guaranteed return.
- Annuities can avoid probate.