Annuities 101

Annuities are a retirement savings vehicle that provide protected lifetime income that is guaranteed to last as long as you do.

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Types of Annuities

There are several types of annuity contracts to choose from. Whether you are looking for income options, a retirement savings vehicle or legacy planning tools, My Annuity Store can help tailor to meet your specifc goals.

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Variable Annuity

There's the potential for more earnings but you also take on more risk.

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Fixed Annuity Annuity

Your investment grows at a guaranteed rate of return.

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Fixed Index Annuity

Upside potential with downside protection.

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Income Annuity

Convert a lump sum of money into a monthly income stream.

Types of Annuities Comparison Chart

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The Value of an Annuity

An annuity is a long-term, tax-deferred investment that is issued by an insurance company and purchased through a financial advisor. It is designed to create a customized plan for each investor’s unique needs while helping protect what matters most to them in retirement.

Types of Annuities

Annuities can provide:

Lifetime Income

An annuity can provide you income for as long as you live through annuitization, which converts your assets into an income stream at no extra cost, or via an optional benefit rider available for an additional cost.*

Legacy Planning

An annuity can provide you the opportunity to create a living legacy by preserving funds for future generations in a tax-efficient manner.

Spousal opportunities

An annuity can be used to protect and preserve assets for a surviving spouse through death benefits and/or living benefits to sustain their ongoing lifestyle.

Annuities are Flexible

As an investor, you are in control.

Flexible Timing

Invest a lump sum now or add money over a period of time.

Flexible Opportunities

Choose options for lifetime income, legacy planning, and spousal guarantees.

Flexible Annuity Options

  • Select a product in your comfort zone:
    Immediate annuities
  • Fixed annuities
  • Fixed indexed annuities
  • Variable annuities

Flexible withdrawals

Take withdrawals as planned. There’s an option to withdraw early, but it may come with a penalty.

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Fixed Annuity Rates

A fixed annuity is desinged to bea high yield retirement savings account. They pay a guaranteed interest rate for a set number of years. Sometimes referred to as a “CD Type Annuity” becauseof the similarities between the two.

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Indexed Annuity Rates

A fixed index annuity provides an opportunity to earn more interest when the markets are performing and downside protection from a potential stock market downturn.

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Frequently Asked Questions

A fixed annuity provides principal protection with the stability of a fixed, guaranteed rate of return. Fixed indexed annuities offer principal protection with the opportunity to earn an attractive capped rate of return based a preselected market index, without investing directly in the market. Variable annuities do not offer principal protection, but offer the potential for uncapped growth with the ability to participate in the market through a variety of professionally managed portfolios.

Annuity fees will vary depending on the product. Typically, you will see insurance charges (which pay for the guarantees that the insurance company provides), surrender charges (charges on an early withdrawal based on the time period of the policy or cancellation of the policy), investment fees (which pay for the management of the underlying investment options), and fees for optional living benefits or optional death benefits.
 

Withdrawals from an annuity will reduce the value of your annuity, withdrawals of taxable amounts are subject to ordinary income tax, and withdrawals may be subject to a market value adjustment. Also, note that withdrawals prior to age 59½
may be subject to a 10% federal tax penalty.
 

The performance of the underlying investment options of a variable annuity is subject to market fluctuation and is not guaranteed.
 

A My Annuity Store Specialist can help you determine which annuities may fit your retirement strategy.

Annuity earnings are tax-deferred during the accumulation phase, which means you do not pay taxes on any earnings each year; you pay taxes on earnings only when you withdraw your money. Any withdrawals of taxable amounts are taxed as ordinary income, and you may be subject to a 10% federal tax penalty if you take withdrawals before age 59½.

 

Many annuities have standard death benefits and optional death benefits. Optional death benefits are available for an additional cost.
 

An account value death benefit will provide your beneficiaries the amount of your remaining contract value, if any.
 

A return of premium or purchase payments death benefit provides your beneficiaries with the greater of the account value or the total premium payments less withdrawals. Premium taxes may apply.
 

A stepped-up death benefit offers you the potential to lock in market gains for your beneficiaries. Adjustments are made for additional premium payments and withdrawals.

A roll-up death benefit guarantees an annual growth rate credited to your contract for your beneficiaries. Adjustments are made for additional premium payments or withdrawals.

Depending on your needs, annuities may be a good addition to your financial plan.

Income annuities may be a fit if you’re seeking a guaranteed, steady stream of income you can’t outlive. The guaranteed lifetime income may help cover essential expenses in retirement, as defined by you, regardless of how long you live. If you need income “immediately”, a single premium immediate annuity may be right for you. If you need income in the future, a deferred income annuity may be more appropriate.

Fixed deferred annuities may be a good fit if you are looking for guaranteed growth, principal protection, and have other funds for liquidity needs (at least three to ten years).

Fixed indexed annuities allow you to protect your principal with the opportunity to generate market-capped growth, and may provide protection of lifetime income for you and your spouse with an optional guaranteed lifetime withdrawal benefit,3 available for an additional cost. Additionally, fixed indexed annuities provide the potential for tax-deferred investment growth and, with an optional death benefit, may provide you with the confidence in knowing your assets are protected for your beneficiaries.4

Variable annuities provided through Schwab offer competitive pricing, with no surrender charges² and base annuity fees that are 30%-60% below the industry average1. For an additional cost, an optional living benefit can provide guaranteed lifetime income based on your original investment or annual gains or, depending on the annuity and rider elected, the opportunity to increase your future income for up to ten years while you prepare for retirement. Finally, variable annuities provide the potential for tax-deferred investment growth, and, with an optional death benefit, may provide you with the confidence in knowing your assets are protected for your beneficiaries4

A Schwab Annuity Specialist can help you determine which annuities would fit your financial plan. If you already have an annuity and feel it may not be meeting your current needs, a Schwab Annuity Specialist can perform an analysis to determine whether it may make sense to exchange your current annuity with one at Schwab.

Before deciding to replace your existing contract, however, please consider any surrender charges on your existing contract; possible loss of guaranteed benefits; differences in features, costs, services, and company strength; and other factors which could reduce or eliminate the benefit of the exchange.

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Brighthouse Annuity Ratings & Review

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Oceanview Harbourview 3 Year MYGA

Oceanview Harbourview 3 Year Fixed Annuity Minimum Deposit: $10,000 Oceanview Harbourview 3 is a 3-year fixed annuity (CD Type Annuity) designed to be a high-yield retirement savings account providing a guaranteed interest rate for 3 years. Apply Now Description Details Withdrawal Info Brochures Taxes Advantages Description Oceanview Harbourview 3 Multi-Year Guaranteed Annuity offers you the

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Oceanview Harbourview 2 Year Fixed Annuity

Oceanview Harbourview 2 Year Fixed Annuity Minimum Deposit: $10,000 Oceanview Harbourview 2 is a 2-year fixed annuity (CD Type Annuity) designed to be a high-yield retirement savings account providing a guaranteed interest rate for 2 years. Apply Now Description Details Withdrawal Info Brochures Taxes Advantages Description Oceanview Harbourview 2 Year Annuity (Multi-Year Guaranteed Annuity)offers you

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Brighthouse Annuity Ratings Brighthouse Financial is rated A by AM Best and Fitch. Brighthouse Annuity also boasts a Moody’s rating of A3 and an A+ rating from Standard and Poor’s. According to their balance sheet, as of December 20 2020, the firm had $248 Billion in Total Assets vs. $230 Billion in Total Liabilities.  Annuity

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Allianz 222 Review: April 2021 In this Allianz 222 Review we will cover: Allianz Financial Ratings Product Highlights Fees Indexes/ Crediting Strategies Rates Allianz 222 Pros and Cons Allianz Financial Ratings Before we dive into our Allianz 222 Review we want to cover the financial Strength of Allianz Life because the guarantees of an annuity

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Athene AccuMax Annuity Review

Athene AccuMax Review: Independent & Unbiased The Athene Accumax is a fixed index annuity designed to provide more upside accumulation potential and downside protection from market volatility. The AccuMax offers 3 index options (2 of which are proprietary), 3 crediting methods, and two-term lengths to choose from. Athene is coming off a huge win taking

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Fishers, IN 46037

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Email

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sales@myannuitystore.com

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Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not of tax or legal nature and is not intended to be a recommendation to purchase a fixed annuity, fixed index annuity, variable annuity contract, registered index-linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Annuities are issued by Insurance companies and contracts are ‘state-specific. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. Please call (855) 583-1104 if you have any questions or concerns. 

The information presented here is not a representation regarding the suitability of any concept or product(s) for an individual and it does not provide tax, accounting, or legal advice. It is important to read the prospectus carefully and consider your objectives, risks, fees, and charges associated with the contract. You should always consult your own financial planning, tax, and legal counsel to determine if a fixed annuity, immediate annuity, longevity annuity, or Qualified Longevity Annuity Contract are suitable in your financial situation.

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