An annuity is a simple idea wrapped in a complicated contract: you give an insurance company money, and it promises to pay you back on a schedule you choose, often for life. FIG helps Tri-Cities families decide whether that promise is worth making, and with which carrier.
Types of Annuities
An annuity is a contract with an insurance company that turns a lump sum or a series of payments into income, often for life. The main types are:
- Fixed annuities pay a set interest rate for a set period, with immediate or deferred payout options.
- Fixed indexed annuities credit interest based on the movement of a market index while protecting your principal from loss.
- Variable annuities invest in market-based subaccounts and carry market risk; they are securities and are not offered through FIG Benefits.
When an Annuity Makes Sense
The right annuity solves a specific problem: income you cannot outlive, money you do not want exposed to a downturn, or a way to pass assets to a beneficiary without probate. The wrong annuity ties up money you will need. Our first job is telling the difference.
Both fixed and indexed annuities are insurance products, and both are only as good as the company standing behind them, which is why carrier strength matters.
How FIG Benefits Helps
FIG works with carriers such as Midland National, North American Company, Symetra, and AuguStar. We compare contracts on the things that matter to you, including guarantees, surrender periods, access to your money, and what your family receives, and we make sure you understand the contract before you sign.
How to Purchase an Annuity
An annuity may help you reach your income goals in retirement by creating income that you cannot outlive. FIG Benefits LLC can help you understand your options. Call the office or request a quote to start the conversation.