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While annuities can be a valuable investment, there are risks to consider.
Pathway Financial knows how annuities work and can discover the best type of annuity of your needs and goals.
Annuities are insurance products that an insurance company guarantees. There are multiple types of annuities, including the following, all of which can be used in different situations:
When it comes to annuities, there are a lot of extreme theories about how they work. As both financial advisors and insurance agents, our goal is to educate the clients we work with to better understand how the investment works and to find the right annuity that fits their long-term financial needs. Instead of going into annuities blindly, we help our clients reach a level of safety with their investments over time.
Annuities can be great for:
Client Services Specialist
CPA, CMA, MS
Fixed Annuities - A fixed annuity is an insurance-based contract, funded either with a lump sum amount or regular payments over time. Contracts for fixed annuities are issued with guaranteed minimum interest rates, often based on the current interest rate environment.
Fixed Indexed Annuities - If you're looking for principal protection with the potential for earnings, a fixed indexed annuity may be the right choice for you. This type of annuity is a long-term investment that allows your assets to grow tax-deferred. It can also offer an optional guaranteed lifetime withdrawal benefit (GLWB) that provides a guaranteed "retirement paycheck" for you and your spouse, guaranteed to grow each year income is deferred (up to 10 years).
Variable Annuities - A variable annuity is a tax-deferred retirement means that allows you to choose from a selection of investments. You can then earn a level of income in retirement that is determined by the performance of the investments you select.
Immediate Fixed Annuities - An immediate annuity is typically started with a lump-sum premium, and payments from the account begin within 30 days or can be deferred up to 12 months. The annuity is converted into an ongoing, guaranteed stream of income for a specified period of time or for a lifetime, and withdrawals may begin within a year.
Immediate Income Annuities - An immediate income annuity is the most basic type of annuity. You make one lump-sum contribution that gets converted into an ongoing, guaranteed stream of income for a specified period or a lifetime.
Deferred Fixed Annuities - A deferred fixed annuity allows you to make regular payments to an insurance company over a period of time, allowing the funds to build and earn interest during the accumulation phase.
Deferred Variable Annuities - A deferred variable annuity is a contract that provides fluctuating rather than fixed returns, hence the name. Variable annuities allow you to control how the insurance company invests your premiums, so you can decide how much risk you want to take, and you carry the investment risk.
Deferred Income Annuities - A deferred income annuity allows you to put aside money now that will provide you with a steady income later down the line. You can pay a lump sum or ongoing payments in exchange for guaranteed future income. Once the money is invested, you typically can't access it until retirement.
We help you understand which annuity insurance is the best option for your goals, needs, and unique circumstances.
We believe that getting to know you personally will help us determine what will best suit your needs.We keep our process simple to focus on your goals without distractions or unnecessary appointments.
We will hold an initial meeting to discuss and determine your personal goals and answer your annuity questions. Schedule a time here.
We will do the groundwork to set up your annuity by gathering information and submitting documentation.
We will create the contract and help you manage your annuity moving forward. We're here to help.
Schedule an appointment with one of our experts today to discuss your annuity options!
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Pathway offers annuities services throughout Lancaster County, Lebanon County, and Berks County, PA, including Ephrata; Lititz; Manheim; Myerstown; Annville; Jonestown; Manheim; New Holland; Hamburg; Kutztown; Reading, PA; and more.