You insure many things in your life. Your home and your cars are probably at the top of the list. Why do you do this?
Because if your home should burn down, you don’t want to absorb the cost of replacing it. It’s the same for car insurance. You purchase it so that if your car is involved in an accident, you do not have to absorb the cost of fixing or replacing it.
In essence, you are transferring the risk of loss from you to an insurance company in exchange for paying them a premium.
When it comes to making sure you have dependable income in your retirement, there are some potential sources. You may qualify for Social Security and even have a pension. But the balance of the income you’ll need every month will come from your retirement savings.
What if you could transfer the risk of generating that dependable income for the rest of your life from yourself to an insurance company, just like you have for your home and automobiles?
This is now possible with an insurance product called a Fixed Index Annuity. Similar to the insuring your home and car, you purchase a Fixed Index Annuity from an insurance company to insure you will have dependable income for the rest of your life, no matter how long you live.
How much lifetime dependable income?
Well, just like home and car insurance, it depends on what you want to insure. Your guaranteed income from your Fixed Index Annuity will depend upon your premium paid, your gender, your current age and when you decide to start lifetime payments (There are no health exams.) And just like home and car insurance, it’s up to you how much of this dependable income you’d like to guarantee.
Want to learn more?
There is more to learn about Fixed Index Annuities as they are not all alike. Consider having a conversation about your current financial situation and your goals for guaranteed income with an independent Registered Investment Advisor to help you make an informed decision.
Please call me at (610) 999-3599 for more information on how Fixed Index Annuities can help you reach your retirement goals.
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