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Understanding Annuities

When you retire in months time, are you financially secure? Are you wise enough to invest and in the future will substantially gain from it? Do you want to get tax benefits?

Annuities are one of the few savings tools that guaranteed financial security on the retired years. There are insurance companies which offer best annuities rates and are versatile and diverse, depending on your needs.

There are also many types of annuities that an investor should understand first.

  • Fixed annuities – it offer a fixed rate of interest for a certain amount of time, after which the rate of interest may be revised. Fixed annuities are great for people who don’t want to take any risks with their investment.
  • Lifetime annuities – it provide a regular source of income to the investor and can be invested with a one-time payment or by making multiple contributions.
  • Immediate annuities – provide a regular source of income to the investor as soon as the investment is made.
  • Deferred annuities – allow the investor to postpone income payments from the annuity.

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