Who’s Who In A

Fixed Indexed Annuity

You can gain a lot by understanding fixed indexed annuities. Simply, a fixed indexed annuity is a contract between you and the insurance company. This agreement explains all the specifics of the annuity insurance product you’ve purchased.

It also establishes the terms of your annuity contract, for instance, the rights and responsibilities held by each party. Also, it explains how long the money needs to stay in the annuity to increase and when the money can be paid out.

Additionally, you may have questions for us. We’d be happy to connect with you and learn about your situation to see how we can help. Please contact us today.

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The Roles of a

Fixed Indexed Annuity

Four roles exist in relation to annuity contracts, specifically when it comes to fixed indexed annuities. It’s also important to have an insurance professional that understands annuities on your side. Those included in the annuity process are as follows:

The company that issues and is responsible for backing the guarantees of the annuity.

Usually, the contract owner and the annuitant are the same person, but can sometimes be different people. The contract owner is the person who makes decisions about the annuity, such as who the beneficiaries are, whilst the annuitant is the person whose life expectancy is used to calculate the annuity payment. Again, they’re often the same person, but could in some cases not be.

The beneficiary is the person who receives your death benefit when you die. It’s important to name at least one beneficiary, if not more. Without one, the money in your annuity is subject to probate. A death benefit can be paid without probate.

Here are the

Details Regarding Fixed Indexed Annuities:

The life insurance company will explain all of your annuity details in your contract. For example, which type of annuity you have, whether a fixed indexed annuity or a variable annuity. Also, the contract with layout terms and periods, such as the period in which your annuity can accumulate without withdrawing money. However, if you need access to your money sooner, few options work in your favor. It’s important to note that a surrender period exists for every annuity, meaning early withdrawal during that period will result in a fee or surrender charge.

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There are many options available to you, the retiree,

when it comes to annuities

This is why it’s important to speak to professionals when you need fixed indexed annuities explained.

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