Why you might consider Purchasing an Annuity

Why You Might consider Purchasing an Annuity

by Art Glasgow, Peck-Glasgow Insurance

Annuities are often an unknown insurance and financial services product.  Most people are not familiar with them, but many know what the do!

Often used as a tool in retirement, immediate annuities are the only financial vehicle that can fully guarantee you a income for life.  We use annuities to help retirees fund a portion of their retiement income with a safe, sound and secure source.  Emotionally, most people are more satisfied and feel more security when they receive a monthly income check, long after their working days are over.  Feeding that emotional need along with the actual income need is important when planning your retirement.

Many of our clients also use deferred annuities, to build up tax deferred funds for use in later years during retirement.  While the returns of fixed annuities are not “eye-popping”!  They are positive each year!  Many annuities have contract guarantees of 3% as a minimum return.  In these days of paltry CD rates, where else can you get a poitive return of 3% each year with no risk!

We also have some retirees that use annuities for investment income.  We can set them up to receive an interest check each month.  With low CD rates, if you only want the interest income we can arrange that for you as well.  Most annuities have attractive interest rates for those living off of savings!

These are just a few of the simple reasons to invest in an annuitiy.  No matter if you are young and saving for the future, approaching retirement, or already retired annuities can help you fit your needs.