Annuity

Types of Annuities - Immediate, Variable, Fixed Annuities

There are different types of annuities, but all boil down to essentially the same thing: An insurance contract that offers guaranteed income, often for life, and sometimes a shot at capital appreciation. It is meant to supplement income from a traditional stock and bond portfolio; it is seldom a good idea to invest more than half of your portfolio in an annuity/annuities because an annuity is fundamentally illiquid. Annuities make the most sense for pre-retirees and retirees who want to minimize worry about bear markets in retirement. Retirees know they will have a specific stream of income no matter how markets perform. Annuities, in short, represent certainty in an uncertain world....

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What Is an Annuity?, Digital Investments Services

What Is an Annuity? Tip: Still Selling Strong. In 2017, investors purchased $192.1 billion in annuity contracts. Most of this capital—$108 billion—went into fixed annuities. Individuals hold about $2.2 trillion in annuity contracts; a tidy sum considering an estimated $9.2 trillion is held in all types of IRAs. Annuity contracts are purchased from an insurance company. In exchange, the insurance company makes regular payments to the buyer — either immediately or at some date in the future. These payments can be made monthly, quarterly, annually, or as a single lump-sum. Annuity contract holders can opt to receive payments for the rest of their lives or for a set...

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Annuity legal definition of annuity

annuity Annuity A right to receive periodic payments, usually fixed in size, for life or a term of years that is created by a contract or other legal document.The most common form of an annuity is akin to a savings account. The annuitant, the person who creates an annuity for his or her own benefit, deposits a sum of money, the principal, with an individual, business, or insurance company to be invested so that the principal will earn income at a certain percentage, usually specified by the terms of the annuity. This income is used by the company to pay the annuitant. Each payment received by the annuitant, sometimes called the primary beneficiary, represents a partial return of the...

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Symetra Adds Annuities With Built-In Guarantees, ThinkAdvisor

Andrew Farrell (Credit: Symetra) Symetra Life Insurance Company is adding two single-premium indexed annuity contracts that protect the purchasers against loss of account value. The Bellevue, Washington-based insurer has introduced the Symetra Stride and Symetra Edge Elite contracts, which are both filed as non-variable annuities. Both contracts feature crediting rate options linked to the performance of Putnam Investments’ new Putnam Dynamic Low Volatility Excess Return Index. Symetra is the U.S. arm of Sumitomo Life Insurance Company of Osaka. Some annuity issuers have pulled back from offering annuities with account value guarantees in recent months, because of concerns about low...

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What is a deferred annuity?

What is a deferred annuity? © Thomas Barwick/Getty Images An older Asian businessowoman discusses something A deferred annuity is a popular way to structure an annuity for those seeking retirement income. An annuity pays out money over a period of time, typically during retirement, helping ensure that retirees have a reliable income. In a deferred annuity, savers contribute money either in one lump sum or over time, and then defer their income stream until later - potentially decades later - depending on how far away they are from retirement. Here are the details on a deferred annuity, its biggest advantages and who should consider one. How a deferred annuity works To understand what a...

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How can I tell if an annuity is a good deal? - MarketWatch

Q: The annuity I just bought guarantees me 5% return for the next 10 years and 5% of the accumulation at that time (I’ll be 75) for life and if I die early my wife (73) gets the 5% for as long as she lives and if we both die before I’m 95, the payments continue to my kids. I understand how expensive the fees in some annuities can be but why should I care about the fees when I am getting guarantees in return? A.: Expensive is not always bad, just as cheaper is not always better, but fees do matter. Ideally, what you get is worth what you pay. That’s the case for any purchase. Your example is a good one to illustrate the cost of guarantees. Your contract does NOT guarantee a 5% return. It...

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What Is an Annuity?, Edward Jones

Let's start with the basics. An annuity is an insurance contract issued by an insurance company. An annuity contract has two phases: an accumulation phase and a distribution phase. During the accumulation phase, the contract owner makes a payment or payments into the contract in exchange for either a fixed or a variable rate of return that is not subject to income taxes until withdrawal, permitting the tax-deferred growth of the investment. During the distribution phase, the accumulated value of the annuity contract can be converted into a guaranteed income stream that can last for life or for a set period of time. Annuities can be a key part of your overall retirement strategy – but they'...

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What Happens to an Annuity When You Die?

An annuity can provide a stream of guaranteed income for life, taking some stress out of retirement planning. But what happens to an annuity when you die? That’s a question you might be pondering if you currently own an annuity or you’re thinking of purchasing one for retirement income. The short answer is that it depends on the type of annuity you own. However, it also depends on the payout options’ structure and the death benefit terms. When you purchase an annuity, you’re purchasing an insurance contract. During the initial accumulation phase, you make premium payments toward the annuity. During the distribution phase, the annuity makes payments back to you. Payouts can begin almost...

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Annuities, variable annuities, and fixed annuities, Ameriprise Financial

An annuity is a long-term insurance product. Many people purchase an annuity to provide a combination of protection through death benefit(s), tax deferral and income in retirement. Why annuities? Depending on the type of annuity you may purchase,you may benefit from tax-deferred growth, guaranteed retirement income and/or guaranteed death benefits. Each of the five annuity types offers unique benefits for individual retirement income needs: Variable annuities offer the potential for greater income based on market performance. Variable annuities are complex investment vehicles that are subject to market risk, including the potential loss of principal invested. Structured annuities provide...

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NAIC Committee Advances Annuity Transaction Suitability Rules, PLANADVISER

The Life Insurance and Annuities Committee of the National Association of Insurance Commissioners (NAIC) voted on Monday to advance its revised Suitability in Annuity Transactions Model Regulation for final consideration. The NAIC is the United States’ standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate their regulatory oversight. The full NAIC still must approve the annuity transaction suitability regulation before individual states may...

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