There are a lot of different things that can happen in the future. Making sure that you’re planning for these things is important and it can provide you with peace of mind. If you’re someone that enjoys making plans and want to know that your finances are cared for, then annuities might be the right choice for you.
What are Annuities?
If an individual passes away during the time that their policy is valid, then their beneficiary will receive a payment. This payment is called the death benefit and it’s the main reason that many people purchase life insurance.
If you choose the annuity route, then you’ll need to pay an annuity provider a large sum of money when you first enroll or make a series of payments over a period of months or years. They will then offer you monthly payments that you can live off of. This is an excellent option if you’re not sure what your finances could look like in the future. Many people are unsure about what their finances will look like in retirement, so this is a great way to make sure that you’ll have the money that you need.
If you’re considering this financial option, then it’s important that you understand what its true purpose is. Annuities were designed to provide you with a stream of income, have tax advantages, and grow tax-deferred. You can even add on riders that will allow you to transfer the money to your beneficiaries if you were to pass away.
Overall, having an annuity is one of the best options to have in place for long-term financial planning.
Reach Out to Us Today!
If you’re interested in learning more about your financial options, then we’re here to help. It can be complicated and confusing to think about what might be best for you individually, so let us guide you through the decision-making process.
We look forward to hearing from you and making sure that you feel confident in your financial preparations. Feel free to make an appointment today so that we can learn more about your situation and provide you with some more information.
We’ll be able to walk you through all the different annuity options and make sure that you feel comfortable with the one that’s right for you.