Annuities

Annuities are an important aspect in planning your financial stability and offer protection against economic downturns and irregular earning periods. If you’re close to retirement, annuities are attractive because they offer a steady source of income as a supplement to their regular earnings. Annuities can be paid out over a predetermined amount of time or over the period of one’s life.

Annuities are insurance products that can help ensure financial stability in your retirement years. You pay into your annuity and in return receive supplemental income during retirement. With a fixed annuity, your insurer is locked into an agreement to pay the interest rate you agree on for a specific period of time.

Qualified Versus Non-Qualified Annuities

A qualified annuity is one that is purchased within a retirement account, such as a 401(k) or IRA. A non-qualified annuity is one that is purchased outside of such a plan, with dollars on which you’ve already paid federal income tax. Basically, the annuity is the same, but the tax consequences may not be. You may want to consult a qualified tax expert before investing.

How do you choose among annuities?

The key to planning with annuities is customization. This starts with the type of annuity you choose: variable, fixed index or traditional fixed. You may customize further by choosing optional benefits for your individual contract, or from a variety of products with unique features. CounterPoint Insurance can help choose A- to A+ rated carriers to secure your future.

An annuity could be a good choice if you want to:

• Increase your tax-deferred earning and may be already taking full advantage of all available 401(k), IRA or other tax-deferred plans.
• Receive guaranteed income for life or a set period of time.
• Let CounterPoint Insurance help create a plan with flexible investment, income and legacy choices.

Want to learn if annuities are right for you? Use the form above to contact CounterPoint Insurance!