Annuities

Just like diamonds have various grades, annuities do too. Let us help you make sense of it all so you can benefit from the protection and income generation annuities provide.

The world of finance offers so many choices, and we're here to make sense of it all for you. Let us introduce you to annuities so you can learn if it's the right fit for you.

There are experienced and skilled advisors (like us) who really know annuities and give you the true picture. Make sure you work with a respected advisor so your financial story has the happy ending you deserve.

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ANNUITY RATES

Current Best Fixed Annuity Rates*

Length of TimeFixed Rate
3 Years3.00%
4 Years3.05%
5 Years5.00%**/4.00% yrs 2 to 5
6 Years5.25%**/4.25% yrs 2 to 6
7 Years5.50%**/4.50% yrs 2 to 7

.............................. Rates as of January 1, 2019 ........................ ** 1st year rate receives a 1% added bonus

We offer many other fixed annuity rate options! Call us to schedule an appointment today!

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*Florida licensed. Rates change often. Please call us for updated rates. Minimum investment of $10,000. Investments of $200,000 or more usually receive higher rates. Detailed information will be provided at face to face appointments only.

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How We Can Help

We recommend fixed annuities as long-term investments designed for retirement savings or as part of an overall fixed-income portfolio. Annuities can offer unique ways to provide income during retirement, including guaranteed lifetime income.

FOUNDER/OWNER

With more than 30 years of experience, John Monte's qualifications span years on Wall Street as well as Main Street. Understanding annuities and matching them to your needs is his focus.

John Monte

THE SIMPLE DEFINITION

An annuity is a simple contract. When you have an annuity, you give your money (your investment) to an insurance company. That company pays you interest on the money (capital) you gave them. You decide if you want to keep the money in an account to keep growing or if you want to set it up so it pays you every month.

WHY FIXED

We offer all types of annuities at The Fixed Annuity Store (whatever works best for our clients), but we do love our Fixed Annuities.

Why? Besides the standard features that all annuities have, such as tax-deferral, creditor protection and the ability to avoid probate through beneficiary arrangements, Fixed Rate Annuities also have:

  • Very competitive interest rates in this low-rate environment
  • Simplicity - no confusing contracts, you get a fixed rate of interest for a fixed period of time
  • Safety - The insurance company issuing your annuity guarantees that your money will not lose value. They also guarantee the annuity's interest rate and income features. (Guarantees are based on the claims-paying ability of the issuing insurance company. Annuities are not FDIC insured.)

Fixed Annuity Basics

Fixed annuities are designed to help you reach your long-term goals by providing a guaranteed return for a set period of time. They may be a good addition to a retirement strategy, but it's important to understand how they work.

When you invest in a fixed annuity, you pay a lump sum to an insurance company. They then guarantee a stated rate of interest over a specific period of time. The interest accumulates on a tax-deferred basis, meaning you do not pay tax on the interest until you withdraw it or take it as income.

Tax-deferred Accumulation

Generally, fixed annuities are purchased with a single payment. The account value grows tax deferred at the guaranteed rate. When you decide to take the earnings, they are taxed as ordinary income.

Choice of Guarantee Periods

Your money is invested for a specific period of time, which you select based on your investment time horizon.

Guarantee of Interest and Principal

The value of your fixed annuity increases when interest is added to your contract.

Flexible Income Options

You can take income from a fixed annuity in a number of ways:

  • Deferred annuities can be converted to a lifetime stream of income.
  • You may also have the option to take systematic withdrawals, the amount of which can be adjusted at any time.
  • Some fixed annuities enable the policyholder to elect an optional living benefit.

Such benefits can provide certain guarantees for contract withdrawals for life. These benefits may require additional fees, charges or expenses, and may be subject to eligibility limitations.

Avoiding Probate

Fixed-annuity proceeds paid to the beneficiary upon death are excluded from estate probate. However, any tax-deferred earnings in the contract will be subject to ordinary income tax, and estate taxes would apply to the total value of the contract, if applicable. The payout at death is generally the accumulated value without any imposed charges or market value adjustment.

Fees & Expenses

Most fees and expenses of a fixed annuity are factored into the stated annual percentage rate the client is quoted. The rate quoted is the rate paid. Fixed-annuity fees and expenses generally cover the insurance company's administrative expenses, the cost of offering the annuitization guarantee, and profits to the insurance company and agent. Some fixed annuities may assess an annual contract fee, typically around $30.

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Get more facts about Fixed Annuities for the Consumer: http://fixedannuiyfacts.com

Important Information:

Guarantees are subject to the claims-paying ability of the issuing company.

Withdrawals taken prior to age 5912 may be subject to a 10% federal tax penalty. Surrender penalties are usually assessed if you withdraw all or a portion of your principal during the guarantee period. Such withdrawals may also be subject to a market value adjustment. Some fixed annuities provide waivers for surrender charges under special circumstances, such as a nursing home stay. Ask us which fixed annuity may be right for you.

Before exchanging an annuity, check with your current provider to see if it will assess a surrender charge, and also consider the exiting benefits and features you may lose in an exchange.

The Fixed Annuity Store cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.