989.672.8880

Mid Michigan Insurance Advisors

Mid Michigan Insurance AdvisorsMid Michigan Insurance AdvisorsMid Michigan Insurance Advisors
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  • About us
    • Meet our team
  • What we do
    • Medicare Supplement
    • Medicare Advantage
    • Prescription Drug Plan
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    • Indemnity Plans
    • Annuities
    • Life Insurance
  • Contact
  • More
    • Home
    • About us
      • Meet our team
    • What we do
      • Medicare Supplement
      • Medicare Advantage
      • Prescription Drug Plan
      • Marketplace Insurance
      • Indemnity Plans
      • Annuities
      • Life Insurance
    • Contact

Mid Michigan Insurance Advisors

Mid Michigan Insurance AdvisorsMid Michigan Insurance AdvisorsMid Michigan Insurance Advisors

989.672.8880


  • Home
  • About us
    • Meet our team
  • What we do
    • Medicare Supplement
    • Medicare Advantage
    • Prescription Drug Plan
    • Marketplace Insurance
    • Indemnity Plans
    • Annuities
    • Life Insurance
  • Contact

Annuities

 

An annuity is a financial product that provides a series of regular payments over a specified period of time, often for the rest of a person's life. There are different types of annuities, including fixed, variable, and immediate, but the basic concept is that you pay a lump sum upfront (or make periodic payments) in exchange for guaranteed income later.

Annuities can be beneficial for retirement for several reasons:

  1. Guaranteed Income: Annuities offer a predictable income stream, which can help retirees cover living expenses without worrying about market fluctuations.
     
  2. Longevity Protection: With certain types of annuities, you can receive payments for life, ensuring that you won’t run out of money even if you live longer than expected.
     
  3. Tax Deferral: The growth of your annuity investments is often tax-deferred, meaning you won’t pay taxes on the earnings until you start receiving payments.
     
  4. Customization: Annuities can be tailored to fit specific needs, such as adding a beneficiary or inflation protection.
     
  5. Financial Security: They provide peace of mind by offering stable, predictable income, which can be particularly important in retirement when people may no longer have a regular paycheck.
     

However, annuities are not for everyone. They often come with fees, complex terms, and less flexibility than other retirement options, so it's important to carefully evaluate whether they align with your goals.

 Planning for your financial future can be overwhelming, but you don’t have to do it alone. Our office specializes in providing guidance and solutions for all your annuity needs. Whether you're looking for a steady retirement income, protection against market volatility, or simply want to learn more about how annuities work, we're here to help! 

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