Anchor Insurance Provides a Range of Annuities
To help with expenses as you age – and especially after retirement – Anchor Insurance provides a range of annuity options for clients throughout the country. Social security and pensions are examples of annuities, but they are not your only options. Our knowledgeable insurance agents will gladly meet with you to discuss your living expenses and determine how much money you need to live comfortably. We can then customize a plan to meet your needs by providing guaranteed periodic paychecks for life. In addition to ensuring you have enough money now, this also protects you from using too much money too soon. Call us today to learn more about the process and types of available annuities.
What Is an Annuity?
An annuity is an investment product that Anchor Insurance offers to guarantee you have money to spend in your golden years. You will begin by providing an initial investment, which effectively serves as a loan to the insurance company. After giving a lump sum of money to your insurance provider, you will receive payment installments with interest for the rest of your life. We will work with you to guarantee you receive the best possible terms so that you can live well as you age. This investment is invulnerable to economic downturns and market fluctuations. During a consultation, we will discuss your options based on:
- How much you want to invest
- The amount you wish to receive in payment installments
- The desired duration for your annuity
Understanding the Different Kinds of Annuities
All types of individuals can benefit from an annuity. Often, persons nearing retirement age will begin planning by investing in an annuity to cover their expenses once they are no longer working. But other candidates for annuities include people who have inherited a lump sum of money via the lottery or a legal settlement, as well as those preparing wills. We will help you structure an annuity to fit your needs. The main options from which you can choose include:
- Deferred Annuities – This structure allows you to begin receiving payments at some time in the future.
- Immediate Annuities – The simplest of all annuities, immediate annuities begin payments as soon as the lump sum is deposited.
- Fixed Annuities – Investors pay a fixed amount for the annuity’s duration, regardless of how well its investments perform.
- Variable Annuities – Variable annuities allow you to make higher or lower payments depending on how well their investments are performing. Loss of principal is possible, but Anchor Insurance has options to protect you from such losses.