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WHO'S WHO IN FIXED INDEX ANNUITY
Fixed Index Annuity (FIA) is a highly popular financial instrument that offers accelerated accumulation of the principal amount. The financial instrument offers guaranteed income linked to the performance of stock market index. Moreover, FIAs provide you the assurance of a stream of income that will last throughout your retirement.
As with any other financial instrument, FIAs involves certain parties that include:
A. Insurance Company
An insurance company issues fixed index annuity. It is also responsible for the company that provides guarantee of the annuity.
B. Annuitant / Contract Owner
The annuitant is usually the annuity contract owner, but that is not always the case. The annuitant is the person whose life expectancy is used to determine the annuity payments. The contract owner, on the other hand, is the person that makes certain decisions about the annuity like selecting the beneficiary and the stock index linked to the FIA.
The beneficiary is the person that will receive the death benefit of the annuity in case of uneventful demise of the annuitant. Specifying the beneficiary is important otherwise your annuity would be subject to a lengthy probate battle that can quickly dry up the amount.
AFTER ALL, RETIREMENT IS THE LONGEST VACATION OF Y OUR LIFE.
The problem is 57% of American workers have saved less than $25k for retirment, and 28% have saved less than $1,000.
ARE YOU PLANNING FOR YOUR RETIREMENT LIKE YOU PLAN FOR VACATION?
There are solutions that will help you protect your life, your retirement, and your legacy.
Take the fear and unknown out of the equation and put retirement securely within your reach.