Annuities and Florida annuity rates

Annuities can be a great addition to your financial plan. Similar to insurance, annuities allow you to pay a monthly payment to a financial institution or insurance company, with the payment determined by how long you pay and the amount you wish to receive upon maturity.

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Annuities are used to create a retirement income flow by making regular payments over a period of years when you are actively employed. There are generally two types of annuities: fixed and variable.

Fixed Annuities

In a fixed annuity, the insurance company or financial institution gurantees you will earn a minimum interest rate as your investment ages. They also guarantee your payments will be a guaranteed amount for each dollar in your account. The payments can be for a fixed period of time or an indefinite period, such as your lifetime. Fixed annuities are not securities are therefore are not regulated by the SEC. Fixed annuities are generally invested in lower interest bearing government bonds.

Variable Annuities

Variable annuities allow you to invest your payments in different investment options such as mutual funds. The interest rate your receive on your investment and also the retirement payments will depend on the performance of the underlying investment. Variable annuities are regulated by the SEC.

There are other types of annuities such as equity-indexed annuities that are a hybrid combination of fixed and variable annuities.

Is an annuity right for you?

Annuities are an excellent investment for people who believe they will outlive their retirement savings. Annuities guarantee a steady income for the rest of your life. The amount of the income payments are determined by how much you invest in your plan throughout your working years.

Income from annuities is tax-deferred until you begin making withdrawals from your account. Withdrawals before the age of 59 1/2 could be subject to surrender fees, a 10% federal tax penalty and also income tax.

When investing in an annuity, buy from reputable companies that maintain a solid financial rating.

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Insurance Agents in Florida
Healthy Kids of St Lucie County

117 Atlantic Avenue
Fort Pierce, FL 34950

Vaughn Group Inc

1407 East Robinson Street
Orlando, FL 32801

Employer Solutions of Florida

6530 Central Avenue
Saint Petersburg, FL 33707

Real Insurance Agency

1400 Southwest 67th Avenue
Miami, FL 33144

Ameri-Life and Health Services Of Hernando- LLC

12083 Cortez Boulevard
Brooksville, FL 34613

TGH Billing Service

2135 Silver Lake Road
Tallahassee, FL 32310

Agency of James W KRY Insurance

206 South Main Street
Bushnell, FL 33513

Allstate Insurance Companies - Sales Offices- Kissimmee

1105 Emmett Street
Kissimmee, FL 34741