With current bankruptcy laws making it more difficult to qualify for debt relief on still available avenue could be the use of an annuity. In some states the income from an annuity payment is protected from creditors. Each state is different and many states have had these laws come under fire because of lawsuits. It is important to always ask for legal and tax advice when considering using an annuity as a protected asset.
If you have an older annuity it is still possible you may also have an annuity with a surrender penalty in place. How do you move your money to a higher rate of interest and not lose any of your account to these surrender fees?
Almost all newer annuity contracts have a provision in them to allow access to all or most of your funds in the event of a need for a nursing home. The greatest fear of most senior adults is being confined to a nursing home and not being able to live in dignity. Annuity products have Read more >>
Annuities are contracts between an individual and an insurance company. These contracts allow for the naming of a beneficiary in the event of death of the annuitant. Because this is a contract, the beneficiary will receive the value of the annuity without the need of estate probate. The funds are paid immediately as directed by Read more >>
Annuity contracts offer numerous options to receive your accumulated funds as retirement income. Most of these options can be for a specific time period and options can provide you with income for your lifetime or your beneficiary’s lifetime. By understanding how these income options work and what available income can be derived from your annuity Read more >>
What are split annuities, and how do they work? The term split annuity would seem to mean an annuity split into two or more parts but actually it is only a concept. The concept is to place on deposit a certain amount of funds into one or more annuities to achieve an immediate need of Read more >>
That question is best answered with another question. What is the purpose of the annuity? What would you like it to accomplish for you. Many companies and annuity marketing organizations will tell you about how great their annuity products are and generally their features and benefits are solid and well thought out. The issue isn’t Read more >>
In unsettling times, 1906, 1919, 1929, 1951, 1978, 1982, 1987, 2001 and other years the need for stability becomes important. Stability helps restore confidence is a stress remover and a confidence agent. Fixed annuities provide those features; they are safe, guaranteed, and secure and have no risk. As we accumulate funds for retirement, security, a Read more >>
The stock market goes up and goes down. When it goes up the financial planners and the stockbrokers tell us how much money we have made and how great the market is. The economy is fine and everything will be just perfect….rosy, sunny days lay ahead for all of us. Right? What happens when the Read more >>
Annuities have a long history dating back to the Roman Era when they were used as a form of gratification for loyal soldiers. These early annuities were given to soldiers as a thank you for military service. The first mention of annuities is recorded before the birth of Christ. In the United States annuities were Read more >>