Tips on Choosing a Fixed Annuity that Works for You

by | Feb 3, 2014 | Financial Services

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When developing a retirement income plan, many people choose annuities. This can be an excellent way to plan for the future, and help ensure that financially you can retire comfortably. If you don’t understand fixed annuities and other financial options in this area, you need to work with a qualified and licensed agent to help walk you through your choices. Here are some tips on choosing an annuity that best fits your financial retirement needs.

Annuity Options

When looking into fixed annuities, you want to decide whether or not deferred annuities are best for you. With deferred annuities, you have to wait a certain period of time before you receive any income payments. The good thing, however, is that you may receive a higher payment due to the deferral period and earnings accumulate on a tax-deferred basis. To understand how fixed deferred annuities work, you should seek the help of a qualified and licensed insurance agent.

Insurance Agency

When purchasing fixed annuities, you want to make sure that the insurance agency selling the annuity is reputable and reliable. Ask any questions that you have before you apply, and once you receive your annuity, read your contract carefully. Your trusted insurance agent can not only help set up your annuity strategy but, they will walk you through the process to help ensure the success of your retirement income plan.

When dealing with fixed annuities, it’s important to understand all of the options that are available to you. It’s important to consult your licensed insurance agent in order to develop the right strategy to meet your retirement income needs.

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