Did you know that annuities aren't just a way to save for your retirement? They also have an insurance advantage. Depending on what policy you choose, you have the option with annuities for guaranteed death benefits, guaranteed payments for as long as you live, or payments for the life of your beneficiary.
Annuities are a great option for you if you've used up your employee-sponsored 401k and you have more capital to invest. Annuities may also be good for you if you're already a retiree and you're concerned about outliving your money. Variable or fixed annuities can help retirees receive income for the rest of their lives. And finally, you may want to consider annuities if you believe you could be vulnerable to malpractice, because annuities are exempt from malpractice lawsuits because they are credit-protected.
There are two types of annuities: fixed and variable. Which one works best for you is entirely your decision. The difference in them is that with a fixed annuity, it gives you a pre-determined interest rate on your income which is guaranteed for a specified term, depending on your contract. With variable annuities, you invest them among stocks, bonds, and market accounts similar to a 401k and traditional IRA.
For more information on annuities, contact us today! We're CounterPoint Insurance, an independent insurance agency is Bedford, New Hampshire.
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