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By Inyoung Hwang Feb. 7 (Bloomberg) -- Shares of the following companies may have unusual moves in US trading tomorrow. Stock symbols are in parentheses, and prices are as of 4:40 pm in New York. Standard & Poor's 500 Index futures expiring in March ...
Annuities are an investment tool. It is an insurance policy but is similar in functioning to an investment product and thus very often compared to them. In general, the insurance company providing the annuity contract receives either a lump sum deposit or a monthly sum of money from the investor which can typically accrue for 10-25 years. At that point the investor can elect to receive a monthly return of money as the annuity comes to maturity. The payout phase on an annuity can continue for any specified period of time or for life depending on the terms in the annuity contract.
As an alternative to monthly premium payments, annuities can be purchased with a lump sum payment. It is common for workers retiring with a 401K to purchase this kind of annuity. When they receive their retirement funds from their 401K, they use this to purchase a lump sum annuity. This way, the money received from the 401K continues to be tax deferred and is only taxed as it is received.
Though some think an annuity is only an investment for the rich, this is not the case. Annuities are a viable investment option for anyone saving for retirement. Many people have discretionary income, which is money not earmarked for bills and expenses, and ar placing this money into a savings account. These funds can just as easily be put towards an annuity.
It is very important that you find the best quotes when purchasing an annuity. You should do some comparison shopping by looking at many different insurance companies that provide annuity quotes. You could compare this to shopping around for the lowest rates and best coverage for your car insurance policy.
Different annuity providers will give you different annuity quotes. You would be given various options to choose from and you should choose the most suitable annuity as per your needs after studying the current state of the annuity market. There are a variety of options for annuities based on length of pay-in, length of pay-out, amounts paid in and out, and numerous other factors. Finding the right annuity quotes among different providers can be frustrating, confusing and quite time-consuming.
Fortunately, it’s easier to find the best annuity than many people imagine. Potential investors can request annuity quotes from multiple providers all at once. The Internet makes it easy to visit annuity websites and obtain all the information needed to make a good decision. With so much information available on the possible choices, a smart investor can find just the right annuity for their individual needs.
- Ken Nuss