Fixed annuities are very simple investment vehicles. The insurance company agrees to pay you no less than a specified rate of interest during the time that your account is growing. Generally, the longer you allow them to work with your money, the better the rate you can be guaranteed to receive back. These contracts will also have a set schedule should you decide to begin pulling an income from the contract. In every fixed annuity you can turn to the “annuitization schedule” to view how the periodic payments will be laid out. The insurance company agrees that the periodic payments will be a specified amount per dollar in your account. These periodic payments may be received for a definite period, such as twenty years, or an indefinite period, such as your lifetime or the lifetime of both you and your spouse.
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