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(MYGA) Multi Year Guarantee Annuity
1. (SPIA) Single Premium Immediate Annuity - For INCOME
This annuity has been depended upon to provide guaranteed income for an extraordinarily long time. The immediate annuity allows a retiree to withdraw a higher percentage of their nest egg guaranteed each year with the assurance the income will never reduce or end. Since current rates are very low in other safe money vehicles, risk averse retirees' choices may be limited. These other options may include taking less income so as to not invade principal or invade a part of the principal based on assumptions and hoping that nest egg does not run out.
- Turn a portion of your savings into a longevity protected retirement income.
- Income is guaranteed with no fluctuation and no market risk.
- Get payouts for the rest of your life or for a specific number of years.
- Receive monthly, quarterly, semi-annual or annual payouts deposited directly into your account.
- Payments can start immediately or you can defer up to 30 years.
- Take the hassle out of required distributions from IRAs.
- Get an immediate annuity quote here
2. Deferred Annuities - For ACCUMULATION
This insurance product is the one that guarantees accumulation with a fixed rate that is set for a specific period of time. Tax deferral and the guaranteed compounding interest rate make the Multi-Year Guaranteed Annuity (MYGA) a great option for the risk adverse saver. Not approved in all states! (Deferred annuity quote request form)
3. Fixed Indexed Annuities (FIA) - For ACCUMULATION and INCOME
The fixed indexed was created to offer clients a shot at higher than current fixed rate guarantees. The more recent addition of the income riders has also made the FIA a strong choice a a deferred lifetime income.
Not approved in all states! (Index annuity quotes)
(FIA) FIXED INDEX ANNUITY
(SPIA) Immediate Annuities
Uses for Fixed Annuities.
Check out our videos on Fixed Annuities.
Fixed Annuity Products Offered
- Fixed Rate Of Interest
- Guarantee Periods 2-10 Years
- Tax-Deferred Accumulation
- Free Withdrawals Available
- Named Beneficiaries
- Compounding Interest
- Avoid Probate
- Annuitize For Lifetime Income
- No Annual/Upfront Fees
Basic fixed annuity insurance information:
What is a Tax Deferred Fixed Annuity? The most simple definition of a tax-deferred fixed annuity is a long-term investment vehicle that provides several tax advantages. More specifically, it's a contract between you and an insurance company for a guaranteed interest-bearing policy. This policy also guarantees certain income options. What the insurance company does is it credits interest to your principal investment, and you don't pay taxes on these earnings until you make a withdrawal or begin receiving an annuity income. Simply, your annuity investment earns a competitive return that is very safe.
What's the advantage of annuity tax-deferral? Tax-deferred means postponing your taxes on interest earnings until a future point in time. In the meantime you earn interest on the money you're not paying in taxes. You can accumulate more money over a shorter period of time, which ultimately will provide you with a greater income. You pay NO taxes while your money is compounding. You can also pay a lower tax on random withdrawals because you control the tax year in which the withdrawals are made, and only pay taxes on the interest withdrawn. Tax deferral gives you control over an important expense - your taxes. Any time you control an expense, you can minimize it. The longer you can postpone this particular expense, the greater your gain when compared to the gain you would make with a fully taxable account.
What is the Penalty Tax and When Does it Apply? An IRS penalty tax, currently 10%, may be payable on any withdrawal of interest or qualified premium made prior to age 59 1/2.
Annuities and Avoiding Probate: If a premature death should occur, the accumulating funds within your annuity may be transferred to your named beneficiaries, avoiding the expense, delay, frustration and publicity of the probate process. Like most assets, the annuity is part of your taxable estate. Your heirs can chose to receive a lump sum payment, or a guaranteed monthly income.
Surrender Charge: A surrender charge is a fee debited on an annuity policy accumulation value upon cancellation or excess withdrawals before the agreed upon end of the policy term. The charge is used to cover the costs of keeping the annuity contract on the insurance companies books and recoup other expenses for early or excess distributions. Surrender charge periods can last from less than one year to forever on recurring surrender and two tier products.
Market Value Adjusted (MVA) Annuities: During the surrender charge period, with an MVA annuity, whenever more than the penalty-free withdrawal amount is withdrawn, the company makes a market value adjustment to the amount withdrawn to reflect changes in the interest rate environment since the policy was purchased. The amount withdrawn is then adjusted, either up (if prevailing rates are relatively lower) or down (if rates are relatively higher).
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Not all products are available in all states. We do not offer tax or legal advice. Fixed annuities are insurance products.
Rates shown are subject to change at any time. For firm confirmation of current rates, a written proposal should be requested by calling call (800) 373-9697.
Withdrawals prior to age 59 1/2 may be subject to a 10% penalty tax. Licensed in most states. Managing general agency - CA Insurance License #0B67385