More Annuity Details
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Fixed Annuity
A fixed annuity provides a guaranteed rate of interest during the accumulation period and a guaranteed (“fixed”) amount of income when the contract is annuitized. With a fixed annuity, the insurance company is responsible for investing the premium payments and therefore assumes investment risk. The insurance company is obligated to provide guaranteed annuity payments regardless of whether their investments have generated an adequate rate of return. With a fixed annuity: 1) the money can go in as a single premium payment or a series of payments; 2) the money is invested at a fixed or guaranteed rate, and; 3) payments are at a fixed rate and can begin immediately or at some future date.
Inflation and Deflation
All annuities involve payments from an insurance company to you. With some annuities the payments are fixed, and with other annuities the payments are variable. Assuming that you purchase an annuity from an insurance company in the United States, you will receive payments in U.S. dollars.
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Annuity Fees and Expenses
Expenses should be a top priority for any financial services consumer. Many people have been conditioned to be aware of expenses when it comes to investment products. Indexed-bases investment management companies such as
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Full List of Annuity Types
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Types of Annuities
The tough thing about classifying annuities is that the three common features described in the previous chapter can be mixed and matched to create a bewildering array of options.
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