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Published on Aug 13, 2014Equity Indexed Annuities Explained – Equity Index Annuity with income Reviews 1-800-566-1002 http://www.RetireSharp.com . What are equity indexed annuities and how can you avoid the most common mistakes that individuals have made when purchasing this type of equity indexed annuity with income riders.
There are various types of annuities, each with different benefits, depending upon where the assets are invested and when payments begin. A "fixed" annuity, for example, provides a specified rate of interest for a period of time, while an indexed annuity offers greater opportunity for growth. Other types include, "deferred" annuities, "single premium" annuities and "flexible premium" annuities. Keep in mind that the cost of these products often is directly proportional to their complexity the more complex, the more money someone will pay for the product and, typically, as happens with complex products, the less a customer will understand what he or she is buying.
There are generally five types of annuities, immediate annuities, fixed annuities, variable annuities, fixed index annuities and hybrid annuities.
With all of these different types of annuities to choose from it is important to understand that all of them are not right for everyone.
When it comes to funding your equity fixed index annuity you have two main options. A single premium is a large one lump payment. With a single premium you can invest as much money as you want. A single premium is usually required for immediate annuities. Flexible premiums let you make periodic payments over many years. Also called installments you can put money into a fixed indexed annuity monthly, quarterly, bi annually or annually. Death Benefits many annuities provide a death benefit as one of its features. After the annuity owner dies, the money in the annuity passes on to the beneficiary named in the annuity. The beneficiary can be one or more people, an organization or a trust. Many financial institutions that set up annuities guarantee that at a minimum your beneficiary receives the total amount of the premiums or installments you paid. The amount of the death benefit depends on several factors including whether the annuity was fixed or variable. When it comes to death benefits for your heirs, things can be complex.
It’s always a good idea to have a keen understanding of what happens to your money after your death. With so many different types of annuities available, a person considering such a strategy needs to educate himself on what and how annuities can fit into his financial plans as a source of lifetime regular income; especially during retirement years.
An annuity is a contract between you and an insurance company to pay you the value of the money you invest in their annuity. This can be paid back at specified intervals, spreading over a long time, even till death. While this insures a regular flow of income, the most important advantage of an annuity is the return it gives. You can choose to receive a higher return from the annuity by selecting an equity indexed annuity instead of a fixed one. The increased return is traded off with the risk element that comes with the annuity. To understand the risks and the guaranteed returns, it is important to understand how the types of annuities are defined.
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Most Americans are underneath the false notion that annuities are only for the very wealthy. However, annuities are a great savings plan; they'll make sure of your cash and grow it like no other monetary instrument can. To perceive the advantages, we tend to need to 1st learn what an annuity is, and dwell on the types of annuities.
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