Archive For The “Annuity” Category
What is a Fixed Annuity and Who Should Buy Fixed Annuities?
By Jorge Hiram Garcia, Your Insurance Advisor | April 23, 2012
What is a Fixed Annuity, and Who Should Buy Fixed Annuities? Fixed Annuities are unique in that they offer a wide range of benefits for those planning for retirement. Not only can fixed annuities be used to fund their retirement but to protect their retirement fund they have a retirement plan in place. Fixed annuities [...]
The New Risk You Need Protection From: Living Longer Than Expected
By Jorge Hiram Garcia, Your Insurance Advisor | April 21, 2012
The number-one new risk consumers need to protect themselves against is longevity, or living longer than expected. To illustrate, if you take a husband and wife who are both 65, there is a 50/50 chance that one of them will live to age 92. There is a 25 percent chance that one of them will [...]
New IRS Guidelines Help Consumers Buy Deferred Annuity Within IRA-401k
By Jorge Hiram Garcia, Your Insurance Advisor | April 11, 2012
There are many reasons why someone would prefer to use a deferred annuity within an IRA or 401(k) plan. For those clients who prefer deferred annuities within their retirement plans, the IRS reporting requirements have historically been so convoluted that they’ve served as a deterrent to such purchases even thought these purchases would benefit these [...]
What’s Good About Annuities? A closer look at the Fixed Index Annuity
By Jorge Hiram Garcia, Your Insurance Advisor | March 30, 2012
When I started in the insurance business, I started out as a fixed index annuity advisor for local school districts. Back then, these types of products were also called equity indexed products. My mentor taught me about annuities, and the value they provided. Once I learned that a fixed index annuity was just a retirement [...]
Government Promoting Annuities…Finally
By Jorge Hiram Garcia, Your Insurance Advisor | February 9, 2012
Annuities are a great vehicle for retirement savings because they can help us make sure we have a guaranteed stream of income for a set period of time. We can even make sure we have a guaranteed income stream for life. The feds are now promoting annuities for these exact features to help retirees ensure [...]
Annuities can be extremely flexible financial instruments, but many consumers do not know, or understand, what an annuity is and how it fits into an investment portfolio. So, what is an annuity? An annuity is a financial instrument, or product, that provides a steady income stream through a series of payment distributions. An annuity is, [...]
Allianz Life is one of my favorite life insurance carriers to work with. Here’s a press release I got recently showing all of their contributions to charity locally in their home city in North America: Allianz Life Insurance Company of North America contributed more than $1.6 million in 2011 to Twin Cities-based nonprofit organizations focused [...]
Annuities: What is a Charitable Gift Annuity
By Jorge Hiram Garcia, Your Insurance Advisor | June 17, 2010
A Charitable Gift Annuity is a type of Single Premium Immediate Annuity. Charitable Gift Annuities can be a great way to for the average person to help or contribute a significant amount of money to their favorite charity or church. With a Charitable Gift Annuity, a person can transfer cash, or marketable securities to a [...]
Annuities: How Does A Single Premium Immediate Annuity Work?
By Jorge Hiram Garcia, Your Insurance Advisor | June 3, 2010
When you buy an annuity, you pay a certain amount of money called an insurance premium. This premium can be paid all at once in the beginning (called a single premium annuity), or it can be paid in installments (a flexible premium annuity). When an insurance company receives the premium from you, the premium is gathered and collected, or pooled, with the premium paid by all of the other people that buy annuities from the insurance company.
Annuities: What is A Single Premium Immediate Annuity?
By Jorge Hiram Garcia, Your Insurance Advisor | May 24, 2010
A Single Premium Immediate Annuity (SPIA), out of all of the annuities that we have talked about, is the one that is most insurance-like of all annuities. As we discussed before an annuity protects you from running out of income, or money, before you die. When you buy a single premium immediate annuity you are protecting yourself by assuring yourself a source of income for the rest of your life.
Recent Comments