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Lose money in the market when it collapsed? If you answered yes, you may think everyone did. Some people avoided this, but how? The answer is with a Florida annuity. An annuity is contract from an insurance company, some people compare them with CDs from a bank. However the benefits of an annuity far outweigh the CD. The market can be a scary place, what if there was a product, that could allow you to gain when the market is up, yet, protect you during a collapsing market, it is called an equity-indexed annuity.
Florida annuities provide flexibility, as you are allowed to take out some of your accumulated cash value. When your annuity makes money on itself, your insurance company will allow you to withdraw a certain percent, penalty free. [spin]With most insurance companies it is around 10%. This is a great benefit, as with an annuity you agree to allow your insurance company to grow your money for a certain time frame. This can be anywhere from 5 to 12+ years. Insurance companies will reward you for allowing them to grow your money, not only with a guarantee, but higher returns if you allow them to grow your money for a longer period of time. (i.e-One who obtains a 12 year annuity will likely have higher returns than one who opts for a 5 year annuity. With all of these benefits, it is quite clear why an annuity may be a great addition to any retirement portfolio. We all want to retire someday, and an annuity is a great way to obtain a guaranteed stream of income for the rest of your life!
The benefits of obtaining annuities in Florida are great. One example is tax deferred growth of funds, which I am sure we can all agree we want. Why would you want to risk everything you saved your whole life to be put in a company with no guarantee? I wouldn’t, that’s for sure. Modest gains of 12% are achievable with a guaranteed return, how much you may ask.Different rates are offered by different insurance companies, some include ING, Jackson, Mass mutual, etc. When choosing an annuity, it is best to look at the ratings and strength of the insurance company in which you are considering
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Posted in Retirement · February 13th, 2010 · Comments (0)