The term “Life Annuity” is rather generic and can have multiple meanings but it is almost always used when describing lifetime income from an annuity product. This post provides detail on the most common uses of the term and provide detail on how a lifetime income annuity works.
First meaning of the term “Life Annuity” [...]
A variable annuity (VA’s) is an insurance contract that relies on investment accounts (Mutual Funds) to determine performance of the money in the annuity. Depending on the product, there can be a number of different mutual funds within the annuity for the investor to choose from. There are usually more than enough accounts to choose [...]
A number of companies offer a variety of fixed annuities in Connecticut which often offer higher interest payouts than a standard bank CD. The term “fixed annuity” is very generic so I will describe the different types in this post. The type of fixed annuity that will work best for you depends entirely on your situation [...]
Companies have been coming to the market with a new type of insurance plan called “Longevity Insurance”. The plans are being offered by NY Life, Symetra, The Hartford and Met life. There will surely be a number more coming out with plans over the next 6 to 12 months.
The idea behind longevity insurance [...]
Choosing an annuity is made out to be the most difficult decision in the world but it really doesn’t have to be. There is a logical progression to be made when making a choice. In this post I will go over the steps that need to be taken to make the right choice.
Before getting into [...]
CD rates are currently at an all time low. The average 5 year CD rate in Connecticut is 1.08%. (To see local rates, Bankrate.com is a good site to use CLICK FOR BANK RATE SITE ) Locking money up for 5 years at a rate below 2% is almost a guarantee that you will [...]
There are more people than ever looking to use a lump sum of money to create a guaranteed future income stream. Fixed Indexed annuites are usually the most predictible way to do this and they also offer the highest future guaranteed life payouts.
As a result, there are a number of companies offering these types of [...]
Life Income annuities have been around for a long time. The concept is straight forward. You hand over a lump sum of money to the insurance company and they show you how much they will pay as income for the rest of your life. There are a number of payout options such as a [...]
Security Benefit is offering a special product that offers unlimited gains without risk to principal. All fixed indexed annuities offer the ability to grow assets without risk to principal but they all have limits on upside potential. Some cap the growth potential on an annual basis while others only pass a percentage of the growth [...]