What Is An Annuity?
An annuity is a financial product offered by insurance companies that provides a steady stream of income over a specified period of time, typically during retirement. It is designed to help individuals accumulate savings and then distribute those savings as a guaranteed income stream during retirement years. At Insurance Pro we work with multiple renowned insurance companies to warranty our clients the best policies with excellent customer service.
Overall, annuities can be an important tool in retirement planning, offering tax-deferred growth, a reliable income stream, and the potential for financial security in retirement.
Types Of Annuities:
The main types of annuities include:
- Fixed Annuities
- Variable Annuities
- Indexed Annuities
- Immediate Annuities
- Deferred Annuities
- Single Premium Annuities
- Multi-Year Guarantee Annuities (MYGAs)
Key Benefits Of Annuities:
- Guaranteed Income Stream
- Tax-Deferred Growth
- Customizable Payout Options
- Protection Against Market Volatility
- Estate Planning Benefits
- Lifetime Income Guarantee
- Asset Protection
Read also: Frequently Asked Questions on Annuities.
