Who knew that retirement was so much work? From choosing the right Medicare plan to deciding what to do with your 401k account it can be a very confusing time. Do you feel uncertain about your retirement account and what to do with it? A fixed indexed annuity has many great features that can elevate your retirement!
Since you will no longer be actively contributing to your account it is crucial to protect and preserve what you have earned.
Pros of Annuities
-Lifetime income that can not be outlived
-Protection of principal
-Liquidity or access to funds
-Higher income in times of need
-Wealth transfer with estate benefits
-Choose the length of your plan
With multiple crediting strategies available we can find the best one to suit your needs. Funds can be allocated to several different strategies and updated yearly on your policy anniversary. What this means is that whatever may happen with the underlying index you will never earn less than 0%. Interest credit is locked in no matter what occurs in the future market. Fixed interest strategy is credited daily and provides a guaranteed rate of interest. The fixed interest rate will be declared annually.
Lifetime withdrawals allow you to rest assured that you can not outlive your money. Withdrawals can be paid monthly, quarterly or yearly and can start anytime after the first contract year with most carriers. If you become unable to perform 2 of the 6 Activities of Daily Living the wellness withdrawal will double the amount of the lifetime withdrawal for up to five years.
You will never have to worry about penalties from not taking your Required Minimum Distributions. They start at the age of 72 are considered free withdrawals from your account even if they exceed 5% of the value. Other benefits to consider are the home health, nursing home and terminal illness benefits included with some products. These type of benefits allow you to withdraw 20%-100% depending on the eligibility requirements.
Many annuities include a death benefit that will leave a legacy to a loved one of your choosing. Your beneficiaries will avoid delays with the hassle of probate and will be paid the full account value of the annuity. Your spouse can always decide to continue the policy if they are the beneficiary.
Annuities are designed to help you achieve your long term retirement needs and are structured accordingly. If you must withdraw more than the free amount allowed there will be a withdrawal charge. However these fees do not apply to lifetime withdrawals, RMDs, wellness withdrawals, home health care withdrawals or nursing home withdrawals.
The decision is yours and the options are vast. Peace of mind is priceless when it comes to protection and preservation of your retirement account. Remove the worry of outliving your benefits.