Brandon, Florida Annuities
As you develop your long term financial plan, you should definitely consider annuities. Annuities offer you with the opportunity to receive tax-deferred earnings and payments for a lifetime. Our licensed agents at Odiorne Insurance Agency can help you map out your retirement planning and depending on your circumstances they may be able to improve your financial security with annuities.
Annuities are classified in different ways using many categories. Some classifications are: annuity purpose, tax status, and how the premium is paid.
- Immediate Annuities – You can use an immediate annuity for regular payments, and for a specified amount of time (or for the rest of your life). Immediate annuities are single payment annuities, and are considered a large sum of cash that can be used for income for a specific period of time. These types of annuities are not intended to provide growth or liquidity.
- Deferred Annuities – This annuity will begin payments from a specific date, and are usually purchased in payments or sometimes a single payment. These payments are normally made while the insured is working so that they are able to receive payments throughout their retirement years.
- Income Annuities – An annuity that is fixed or variable paying a certain monthly amount, and is usually purchased in a lump sum. Income annuities are normally used to provide a dependable retirement income.
- Variable Annuities – Allow the insurance company to pay periodic payments to you now or at a future date. A variable annuity has the potential to show the insured higher growth, but it also will be at risk from changes in the market. The performance of variable annuities will depend on the investment options that are selected.
- Fixed Annuities – Perfect annuity choice for long term investors that are planning to use it for retirement or savings. They are also perfect for providing a fixed interest rate stability, and no risk of losing any of the principle investment. If you are looking for steady and guaranteed growth with a tax-deferred benefit, then a fixed annuity might be your perfect choice.
Contact us today at 813-685-7731 if you’re interested in purchasing individual annuities in the Brandon, Florida area.
Speak with a licensed agent for additional information regarding these coverages or refer to your actual policy for specific coverages and limits. It’s important to learn what your policy coverages include and how different limits could potentially negatively effect your business risk and liabilities.
The information offered throughout our website is not legal advice or a substitute for consultative insurance purposes, it is for illustration and informational purposes only. For additional information regarding your specific insurance needs, please call and speak with one of our licensed insurance agents today. Our agents are ready to assist you in navigating your insurance options.