Fixed Annuities

At Cary Financial Planners, we specialize in fixed annuity life insurance policies. Fixed annuity life insurance is a particular type of policy that could help you reap great benefits in the long term. It is a favorable life insurance plan for anybody hoping to accumulate their account and ultimately, earn more from it in the long term. With numerous benefits and a highly secure nature, it is an appealing prospect for anyone at all, which our team recommends all our clients consider. Therefore, if you think that a fixed annuity policy would benefit you, you should contact us today and discuss what we may be able to do for you. 

What is Fixed Annuity? 

However, if you have never before come across the term ‘fixed annuity, you may be left with a few questions. Simply put, a fixed annuity is a specific insurance contract type that assures the buyer of a guaranteed interest rate. Where a variable annuity policy may fluctuate over time, at the provider’s discretion, a fixed annuity policy promises you consistent gains based on your personal contribution to the account. That means that as soon as you begin paying into your portfolio, you can be certain of the amount you should expect, which we feel is incredibly beneficial in your long-term financial and retirement planning. 

Accumulation Phase 

When you take out a fixed annuity policy, you enter into the first stage of the plan. This is what is known as the accumulation phase. During this period, the value of your account will generate its worth tax-deferred, continuing to be increased by your earnings as a result of interest. Naturally, the earlier in life you take out this policy, the greater the potential of your accumulation phase. You can continue to add worth based on the agreement made, with either a lump sum or continual payments both being viable options. 

Payout Phase 

Then, once you elect to access your account for payment, we begin what is known as the payout phase. Initially, the payment amount will be calculated from all the accumulation you have gathered minus the cost of taxes and premiums. This will leave you with a significantly greater sum of money than you otherwise would have been capable of gathering. While this can be triggered at any reasonable point during your policy duration, it is nearly always used following retirement. In doing this, you have the greatest potential to earn and ultimately, liberate your finances even after you have ceased to work. 

Benefits of Fixed Annuity Life Insurance 

There are countless benefits to choosing a fixed annuity life insurance policy, many of which are unique to the plan. Most notably, this is one of the safest ways that you can earn later in life, often being more effective than other traditional methods. At the same time, it is highly predictable and measure, making it ideal for planning, while tax-deferred growth incurs numerous opportunities. And, given that our team offers some of the most favorable rates on the market, you can count on us for maximal benefits.