Annuities for Retirement: Retire With Confidence
Your trusted source for annuities, offering guaranteed lifetime income and insights into indexed annuity performance, as well as competitive MYGA rates for your financial growth.
Your trusted source for annuities, offering guaranteed lifetime income and insights into indexed annuity performance, as well as competitive MYGA rates for your financial growth.
Welcome to 'America's Annuity Store,' where we assist in securing your financial future with transparent and dependable retirement solutions. I'm your host, and today we're exploring three essential components of a secure retirement: MYGA rates, Indexed Annuity Performance, and Guaranteed lifetime income. We understand that retirement planning can be perplexing, but it doesn't have to be. Our aim is to equip you with the information you need to make informed decisions.
Welcome to 'America's Annuity Store,' where we assist in securing your financial future with transparent and dependable retirement solutions. I'm your host, and today we're exploring three essential components of a secure retirement: MYGA rates, Indexed Annuity Performance, and Guaranteed lifetime income. We understand that retirement planning can be perplexing, but it doesn't have to be. Our aim is to equip you with the information you need to make informed decisions.
Many are facing what financial experts refer to as the 'retirement income gap'—the disparity between guaranteed income sources, like Social Security, and your actual living expenses. As part of your retirement planning, you have an opportunity to convert a portion of your savings into guaranteed lifetime income that you cannot outlive. To ensure this strategy is suitable for you, consider completing a suitability questionnaire.
Longevity Protection Annuities are the only financial product that can guarantee income for life, making them a crucial element in retirement planning. Regardless of how long you live, if you reach 95 or beyond, your payments will continue—eliminating the risk of outliving your savings. Pension Alternative Think of an annuity as creating your own personal pension. While most companies no longer offer traditional pensions, you can replicate that guaranteed monthly paycheck through an annuity contract with an insurance company. To ensure the right choice, consider completing a suitability questionnaire. Tax-Deferred Growth Your non-qualified dollars can grow tax-deferred inside the annuity. You only pay taxes on the gains when you withdraw them, allowing your money to compound more efficiently than in a taxable account.
Understanding LTC (Long-Term Care) Riders on Annuities for Retirement Planning
Triggering Events
The rider activates when the annuitant cannot perform 2 or 3 of the 6 Activities of Daily Living (ADLs): bathing, dressing, eating, toileting, transferring, and continence. It also triggers when cognitive impairment is diagnosed (like dementia or Alzheimer's) or when nursing home care or home health care is required.
Benefits:
Income Doubling/Enhancement: Most LTC riders provide 2x to 3x the normal income withdrawal amount when triggered.
Extended Payout: Enhanced payments typically continue for 5 years or until the account value is depleted.
No Medical Underwriting: Unlike standalone LTC insurance, these riders usually don't require extensive medical exams.
Asset Protection: The annuity continues to provide death benefits and standard income if LTC is never needed.
Key Advantages Over Standalone LTC Insurance:
Guaranteed Use: If you never need LTC, the annuity still provides retirement income and death benefits to heirs.
No "Use It or Lose It": Traditional LTC insurance premiums are lost if you never file a claim.
Rate Stability: Annuity LTC riders don't have premium increases like traditional LTC policies.
Simplified Underwriting: Generally easier to qualify for with a suitable questionnaire.
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Securities and Advisor Services offered through Silver Oak Securities, Inc. Member FINRA / SIPC Hearn Wealth Management and Silver Oak Securities Inc are not affiliated/separate entities. Martin Hearn Investment Advisor Representative DBA Hearn Wealth Management LLC .
Any guarantees are based on the financial strength and claims paying ability of the issuing insurance company.
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