Lufkin, Nacogdoches, Livingston Annuities
You should consider annuities when developing your long term financial plan. Annuities give your the opportunity for lifetime payments and tax-deferred earnings. Our advisors at Morgan & Bartlett Baggett & Shands Insurance Agency can assist you in mapping out your retirement strategy and how annuities can help your financial security.
Annuities Protection in Texas:
Annuities can be classified in different ways and categories. Some of these ways include: the purpose of the annuity, pay-out, tax status, & how the premium is paid.
- Immediate Annuities - For a specified period of time or for the rest of your life, you can use an immediate annuity for regular payments. Immediate annuities are single payment annuities. A large sum of cash can be used for income for a specific time frame. These are not intended to offer liquidity or growth.
- Income Annuities - An annuity that is fixed or variable paying a certain monthly amount. Income annuities are usually purchased in a lump sum and are used to provide a stable income for retirement.
- Deferred Annuities - This annuity will begin payments from a specific date. Usually these are purchased with payments or sometimes a single payment. These payments are typically made while the insured is working in order to receive payments during their retirement.
- Fixed Annuities - This annuity is used for retirement or savings for long term investors that want to have the stability of a fixed interest rate with no risk that they'll every lose any of the principal. A fixed annuity will provide steady and guaranteed growth with the tax-deferred benefit.
- Variable Annuities - With a variable annuity, the insurance company pays periodic payments to you either now or at a future date. The insured might see higher growth from a variable annuity, but will also be at risk from market changes. Variable annuities will vary with the performance of the investment options that are chosen.