Annuity Insurance
An annuity is a contract between you and an insurance company where the insurer provides a guaranteed income stream in exchange for a lump sum payment or a series of payments. Annuities can be used to provide a steady income stream in retirement, alleviate the fear of outliving one’s assets, or ensure a guaranteed income for a set period.
An annuity can be:
- Immediate: A single payment or a series of payments made immediately.
- Deferred: A guaranteed income stream starting at a later date, often with a guaranteed interest rate.
- Lifetime: A guaranteed income stream for the remainder of your life, or the life of you and your spouse.
- Fixed Annuities: Provide a fixed interest rate and a guaranteed minimum interest rate.
- Variable Annuities: Allow you to invest your money in a variety of investments, such as stocks, bonds, and the value of your annuity may fluctuate.
Annuities can be a valuable tool for retirement planning, providing a reliable source of income and financial security for individuals seeking to achieve their retirement goals. However, it’s essential to carefully assess the features, costs, and risks of annuities to determine if they align with your financial objectives and circumstances.
Professions Covered
What are the requirements
- Profession Details and Certifications
- Limit of Liability
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