What are Annuities?

What is an Annuity and Why do you want to consider buying annuities?

Annuities are very similar to an insurance policy. For example, you have monthly premiums with an insurance policy and if you meet the policy’s terms, you would collect on the insurance policy’s payout.

An Annuity is a guarantee to pay you a certain amount per month for the rest of your life. You purchase the annuity and make monthly payments, and after a certain number of months, the annuity starts making payments to you, based on what you have put in.

Life Insurance policies that are whole term are often built on buying into an annuity.

Annuities and Retirement

One of the advantages of annuities is that you can buy an annuity with your tax defered retirement funds and instead of paying taxes on the whole retirement amount, you only pay on the portion of the annuity that you receive. This spreads out your income and taxes.

Benefits of Annuities

Annuities have many benefits. The most important benefit to an annuity for many people is that it guarantees a monthly income in the future. An annuity helps protect your future, especially in the case of living longer than you have saved for.

How to Buy Annuities

Annuities are just one option you need to consider to help protect your retirement and enjoy your later years. Your wealth in your retirement does not have to be risky. Lee Hyder helps you consider if annuities are right for you and can help you buy an annuity.

To contact Lee, visit Lee Hyder