Our Annuity Department has a wide range of products to fit your client’s needs and situation.
Call our office and our experts are happy to assist you.
• Deferred Annuity
• Multi-Year Guarantee Annuity
• Fixed Index Annuity
• Single Premium Immediate Annuity
• Deferred Income Annuity/Longevity Insurance
• Flexible Premium Deferred Annuity
• Underwritten Annuity: Higher Payouts for Impaired Health
• Long Term Care Annuity
Click here to get an Annuity Quote.
Email Jason@dibcompanies.com
Click Here to Get a Guaranteed Lifetime Income Annuity Quote.
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Annuities are in greatest demand with Americans today. The United States is in a retirement crisis and in the next ten years there will be an average of ten thousand new people per day aging in and applying for Social Security benefits.
The top fear of people is outliving their money in retirement, and becoming a burden on their families.
People in their early fifties are the ones looking at current finances and considering requesting information and quotes for annuities. The truth is, the earlier one enrolls in an annuity plan the greater the monthly benefit.
The annuity is an insurance product and needs to be purchased from a highly rated insurance carrier, with at least a third party agency rating from A.M. Best or Standard and Poor’s, of A, A++, and a Comdex rating of 90% or higher. Keep in mind that this is very long term promise by whatever carrier is chosen to pay benefits when the decision is made to take distributions.
These annuities produce tax deferred long term growth and people like the long term financial benefit with asset preservation and security both included. The financial advisor will suggest putting a portion of assets into this type of product since it is the only one that will guarantee lifetime income. No bank or other financial asset will guarantee this with a consistent payout.
The annuity contract allows an option of paying in a lump sum amount or contributing over a period of time. The advisor will guide on this and it is very important to retirement security.
When selecting a broker they will ask specific questions including, feelings of risk tolerance, the plan of how to use the annuity, and current age. Also what is the current financial situation such as tax status, current assets, and tax bracket, along with income and debts, and funds available to purchase the annuity?
To get an Annuity quote email Jason@dibcompanies.com.
What Are The Annuity Choices?
Immediate Annuity – Starts within a year and can last until death. Also supplements other income like Social Security, which helps with ongoing expenses, and is a reliable income stream.
Fixed Index Annuity – Provides money growth and may allow earning higher interest based on an index. One cannot lose money since there is no investment in the stock market. Earnings are tax deferred also. There are several options for retirement income, including lifetime, and provides the family with a death benefit.
Deferred Income Annuity – At a future date there will be a steady, reliable, income stream that can last as long as the annuitant lives. There are numerous options for how long this income lasts, including lifetime.
Variable Annuity – Money is invested in a broad range of stock market options with growth potential. Income is tax deferred, so money grows faster, and there are also several options for payout, including lifetime. A death benefit is also included.
How Do Annuities Pay?
Annuitize- Begin with completing a form with payment options available. Once the best option is chosen, in most cases it cannot be changed and no more money can be taken out. If the Life Income option is chosen and death occurs there may not be any further payments, however, this is the highest payout option. Check with a tax advisor for any tax consequences.
Full Withdrawal – The annuitant receives a lump sum payment withdrawal and the annuity ends. Check with a tax advisor for any tax consequences.
Partial Withdrawal – Deferred annuities allow one to take 10 % annually with no surrender charges.
Living Benefits – Other than the Life Only option, when death occurs payments for any remaining account value may be left to the surviving beneficiaries.