Annuities

Annuities - Fixed & Fixed Indexed

Turn your Assets into Guarantee Lifetime Income -- Listen to well-known Tom Hegna Retirement Income Expert (PBS Special)

RETIRE HAPPY WITH LIFETIME INCOME FROM AN ANNUITY

Lifetime Income Stream Key to Retirement Happiness

LONDON — In this city known for grumps and complainers, the happiest people are those with a pension and those too young to understand how a pension works, according to Britain’s first-ever national happiness survey, out last week. Results further show that people living in rural areas and those who own their own house are happier than those living in the city and renting.The inaugural survey looked only at British citizens. Yet the results offer universal lessons, the main one being the importance of guaranteed income in retirement. Owning a house also helps, reinforcing what is commonly called the American Dream. The highest happiness readings came from pensioners aged 65-69, who scored 7.8 on a 10-point scale. But all pension-collecting age groups scored at least 7.6—ahead of every other age group save for teens, who generally haven’t yet experienced financial stress and also scored 7.8. Pensions that provide guaranteed income have become increasingly rare around the world, as employers have shifted from defined benefits plans to defined contribution plans. But many of today’s retirees enjoy the old-style plans, which play into the elevated happiness reading.

Studies in the U.S. have shown that retirees with a guaranteed income stream are more confident about their financial future.In Britain, the groundbreaking study is expected to lead to policy change, something that is already happening in the U.S. where both lawmakers and large employers are looking at ways to make it easier for the next generation of pensioners—those with a 401(k) and no built-in income stream—to easily convert some or all of the assets in their plan into a guaranteed lifetime annuity.The Obama administration has gotten behind this push, encouraging employers to offer a deferred fixed annuity as one investment option within 401(k) plans. Meanwhile, one in five employers expect to introduce some kind of guaranteed lifetime income product in the next 12 months, according to the 2012 BlackRock Retirement Survey. That would double the number already offering such an option.You don’t have to wait for your employer to make things easy. Annuities sold through big insurance companies like New York Life, Allianz and John Hancock have soared in popularity as retirees have come to understand that guaranteed lifetime income makes them more financially confident—and happier, too. In general, immediate fixed annuities offer the best combination of certainty and low cost. Warning: With interest rates at historic lows today these products are relatively expensive, and you should get professional advice before buying a potentially higher-paying variable annuity. But securing at least a base level of lifetime income should be every retiree’s priority—at least if they want to live happily ever after.

http://business.time.com/2012/07/30/lifetime-income-stream-key-to-retirement-happiness/

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How Do Annuities Work?

In the accumulation phase, you (the annuity owner) send your premium payment(s) (all at once or over time) to the annuity issuer. If these payments are made with after-tax funds, you may invest an unlimited amount
The annuity issuer places your funds in its general account.* Your annuity contract specifies how your principal will be returned as well as what rate(s) of interest you'll earn during the accumulation phase. Your contract will also state what minimum interest rate applies.**
The compounding interest on your annuity accumulates tax deferred. You won't be taxed on these earnings until funds are withdrawn or distributed
The issuer may collect fees to manage your annuity account. You may also have to pay the issuer a surrender fee if you withdraw money in the early years of your annuity
Your annuity contract may contain a guaranteed** death benefit or other provisions for a payout upon the death of the annuitant. (As the annuity owner, you're most often also the annuitant, although you don't have to be)
If you make a withdrawal from your deferred fixed annuity before you reach age 59½, you'll not only have to pay tax (at your ordinary income tax rate) on the earnings portion of the withdrawal, but you may also have to pay a 10 percent premature distribution tax, unless an exception applies
After age 59½, you may make withdrawals from your annuity without incurring any premature distribution tax. Since non-qualified annuities have no minimum distribution requirements, you don't have to make any withdrawals. However, your annuity contract may specify an age at which you must begin taking income payments
To obtain a guaranteed** fixed income stream for life or for a certain number of years, you could annuitize, which means exchanging the annuity's cash value for a series of periodic income payments. The amount of these payments will depend on a number of factors, including the cash value of your account at the time of annuitization, the age(s) and gender(s) of the annuitant(s), and the payout option chosen. Usually, you can't change the payments once you've begun receiving them
You'll have to pay taxes (at your ordinary income tax rates) on the earnings portion of any withdrawals or annuitization payments you receive

*These funds are invested as part of the general assets of the issuer and are therefore subject to the claims of its creditors.

**All guarantees are subject to the claims-paying ability of the issuing company.

WE BELIEVE IN KEEPING THE MONEY IN YOUR POCKET

We only offer Fixed & Fixed Indexed Annuities, so you do not lose your Principal.

Create Accumulation and Income opportunities without losing your principal investment
Create Lifetime Income, Death Benefit for your Beneficiaries, Free Withdrawals, and Inflation Protection for your Income
Maximize your Social Security Check and create Income for Life
Create a Safe Retirement from Market Volatility

Variable Annuities cost more in management fees and can lose your principal.

Upon your Death your Beneficiaries will receive the unused amount

IMMEDIATE ANNUITIES

Immediate Annuities give you Income the month after the Initial Premium is deposited. You can deposit a Single Premium aka SPIA or make periodic deposits

DEFERRED ANNUITIES

Deferred Annuities give you an income down the road. Best left to build momentum as the interest compounds, wait 10 years and your money grows. You choose

the Index offered by the Annuity, so the Money can grow on an Index like the S&P 500 Index

Remember how much compound interest you paid on the Mortgage of your House to the Mortgage company?
You could have bought 3 houses for cash over those 30 years

FIXED ANNUITIES

Fixed Annuities aka MYGA (Multi-year Guaranteed Annuity) give you a Fixed Interest Rate like a CD (certificate of deposit).

No Indexes are used

Turn your Assets into Income and Create a Guaranteed Lifetime Income and RETIRE HAPPY!

PROTECT YOUR ASSETS FROM LITIGATION

Annuitize Your Business Assets / Asset Protection

Most state and federal statutes protect annuities from civil liabilities, liens and debt claims.

Many business owners and professionals, especially those that are susceptible to liability litigation, protect their wealth inside of annuities.

Because annuities mirror a pension's benefits, they are helpful to retirees who need money to live on. But retirees should do what they need to do to protect their annuities from risk. In some states, including Texas and Florida, an annuity provides asset and creditor protection.

It is important to check applicable exemption laws in your state before investing in an annuity for the purpose of asset protection.