Mountain View Insurance – Annuity Solutions
An annuity is a insurance product that can benefit you in order to preserve and grow your assets now and into the future. Annuities are contracts between a consumer and a insurance company with various built in guarantees. These guarantees can vary depending upon the company and depending upon the goal of the consumer. Here is a short list of types of annuities to consider
Different Annuity Options
Annuity – How it Works
You contribute money towards an annuity, either a lump sum or periodically over time, and in return you receive an accumulation on your cash value, a guaranteed income stream for life, or other benefits which all depend on the type of annuity you choose.
Annuity – Tax Deferred
Annuities allow for the money in the contract to grow tax-deferred which means you pay no tax on any earning until you withdrawal. This characteristic is similar to a 401K or other qualified account but it has no contribution limit – which is a huge advantage for planning your future financial success.
Annuity – Legacy Builder
Annuities are a great way to create a legacy for your children or grandchildren. The various guarantees available and the tax deferral make it a great tool for your overall legacy plan.
Annuity – Quick Breakdown of Fixed versus Indexed
Fixed Annuities
- Provide a state rate of return
- Have a specific term of 3+ years
- Principal is insured and cannot decrease
Fixed Indexed Annuities
- Rate of return linked to an external index such as the S&P 500
- Have capped rates or spreads on growth
- Principal is insured and cannot decrease
There are many options to consider when purchasing an annuity. Give our professionals a call at (410) 262-3176 or fill out the form below.