A Qualified Annuity – is bought with pre-tax dollars as part of a personal retirement plan like a 401k or an IRA.
A Non Qualifying Annuity – is bought with after-tax dollars rather than as part of a qualified retirement plan.
An Annuity – is considered a long-term financial vehicle. You may elect a payout option that guarantees you a certain amount for life, where you & your spouse cannot out-live the payments, even after the original deposit has been exhausted.
An Indexed Annuity – Generally promises to provide returns based on the performance of an index, and has two phases, the accumulation phase, and the distribution phase.
Purchasing an Annuity – is a solid financial investment for certain situations, and there’s things you should know before going all-in… like how the withdrawls work, or the mandatory distributions (at a certain age), how the death benefit is paid, the Contract Value vs the Surrender Value, and the taxes and tax penalties.
Our Team – is committed to helping you understand how these investments work, before you purchase it, although we cannot offer you legal or tax advice, we can ensure you understand your options, such as: a short-term or long-term investment, or a lump-sum deposit like 401k/ IRA roll-over, or setting-up your account with (pre-tax) contributions per paycheck, very similar to a group-plan retirement contribution.