(660) 351 - 3736
Harrisonville, Missouri
(660) 351 - 3736
Harrisonville, Missouri
Annuities
Think of an annuity as a savings account with a life insurance company instead of a bank. You have guaranteed lifetime income and guarantee of no loss of initial investment.
The #1 concern of retirees is running out of money before they run out of life. That's where the annuity comes in.
Why Annuities Are Important:
Provides stability to those who invest
No market loss like you would find in the stock market
Predictable income
Annuities
Think of an annuity as a savings account with a life insurance company instead of a bank. You have guaranteed lifetime income and guarantee of no loss of initial investment.
The #1 concern of retirees is running out of money before they run out of life. That's where the annuity comes in.
Why Annuities Are Important:
Provides stability to those who invest
No market loss like you would find in the stock market
Predictable income
Different Types of Annuities
Fixed Index annuity
Offers you the potential growth of the market, without the risk.
Some offer bonus money to jump start your growth
Some offer death or spousal benefits with continued income
Can be tax-deferred
Some employer retirement accounts can be rolled over without penalty
Fixed Annunity
Similar to a CD, gives you a guaranteed return but you don't participate in the growth.
Give you a guaranteed return but not the potential growth
Usually for a shorter period of time (3-7 years is common)
Can be tax-deferred
Variable annuity
Similar to mutual funds, their value can fluctuate with market conditions
* We don't offer Variable annuities because we want to protect your retirement
Doesn't offer guaranteed income like a Fixed or Fixed Index annuity
There is no protection against loss because it is based on the market
Different Types of Annuities
Fixed Index annuity
Offers you the potential growth of the market, without the risk.
Some offer bonus money to jump start your growth
Some offer death or spousal benefits with continued income
Can be tax-deferred
Some employer retirement accounts can be rolled over without penalty
Fixed Annunity
Similar to a CD, gives you a guaranteed return but you don't participate in the growth.
Give you a guaranteed return but not the potential growth
Usually for a shorter period of time (3-7 years is common)
Can be tax-deferred
Variable annuity
Similar to mutual funds, their value can fluctuate with market conditions
* We don't offer Variable annuities because we want to protect your retirement
Doesn't offer guaranteed income like a Fixed or Fixed Index annuity
There is no protection against loss because it is based on the market
Frequently Asked Questions
How are annuities safe?
Insurance companies are required to retain a higher cash amount than banks and lending institutions, guaranteeing protection against loss. Even if an insurance company goes under, you will still receive your initial investment.
Why should I put my money into an annuity?
Your money is either doing one of two things: accumulating or being spent. By putting your money into an annuity, you can have the growth or the guarantee of income for life, without the risk of being in the market.
Will I continue to receive money if my spouse dies?
Yes. Depending on what type of annuity you get, some plans will offer that as a spousal rider to keep income for the surviving spouse or a one-time death benefit.
Can I leave my annuity to a beneficiary or a trust?
Yes, you can choose where the money will go in the event of your death.
Frequently Asked Questions
How are annuities safe?
Insurance companies are required to retain a higher cash amount than banks and lending institutions, guaranteeing protection against loss. Even if an insurance company goes under, you will still receive your initial investment.
Why should I put my money into an annuity?
Your money is either doing one of two things: accumulating or being spent. By putting your money into an annuity, you can have the growth or the guarantee of income for life, without the risk of being in the market.
Will I continue to receive money if my spouse dies?
Yes. Depending on what type of annuity you get, some plans will offer that as a spousal rider to keep income for the surviving spouse or a one-time death benefit.
Can I leave my annuity to a beneficiary or a trust?
Yes, you can choose where the money will go in the event of your death.
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Copyright 2025. West Pack Consulting. All Rights Reserved.