What is a Fixed Indexes Annuity?
An annuity is a contract with an insurance company that allows you to reach financial goals such as principal protection, guaranteed retirement income, or covering medical care costs later in life. Fixed Indexed Annuities gives you a predictable way to build your future retirement INCOME BASE for a STEADY STREAM OF LIFETIME INCOME — without the risk of actually participating in the market.. We can help you take a confident step towards your retirement savings with information and comparisons to get you started.
What is Fixed Index Universal Life (FIUL)?
An IUL offers permanent life insurance protection with the opportunity to earn market-like returns inside the policy. "gains without losses" meaning the policy is guarantees a 0% floor (no loss of $$ when market dips). You can access this growth at any time during the length. Being called a "Rich Man's Roth" it's very similar to a Roth IRA, the cash value of an IUL grows tax-deferred and income withdraws are tax-free.
Retirement Protection - Guaranteed Zero Loss.. All Gains!
Planning for retirement, whether that's five years away or 25 years down the road, is something each of us needs to consider. Making smart choices about how much money you save, and what retirement planning savings vehicles you use, can mean the difference between having the income you need in retirement to live the lifestyle you want, or struggling financially. There is no one-size-fits-all solution when it comes to saving for retirement, but if you prefer a product that offers safety and guarantees, you may want to consider the retirement protection benefits offered by annuity products and indexed universal life (IUL) insurance policies.
Diversifying with Annuities & FIUL for Retirement Protection?
There are many reasons for choosing retirement protection annuities and IUL products. The most common reason many people use annuities is for channeling their savings into a growth platform first, followed by regular income stream during retirement. Funds from Social Security and pensions may no longer be enough to allow you to live the lifestyle you want when you retire. In fact, who knows how much longer either program will be around at the pace we're heading. Choosing a retirement protection annuity can give you an additional paycheck every month to supplement those other income sources - giving you the funds necessary to travel, pay your expenses each month, buy gifts for loved ones and more. Similarly, IUL policies offer you the option of accumulating cash inside your life insurance policy - cash that you can use for any purpose and withdrawn tax free.
How Retirement Protection Works
When you purchase a deferred annuity as part of your retirement plan, you enter into a contract with the issuing insurance company. During the accumulation phase, when you're able to add funds, your funds will grow on a tax-deferred basis. When you're ready to turn your annuity into a stream of cash, you'll have various payout options to choose from. An Indexed Universal Life (IUL) policy includes both a death benefit amount and a cash value component. Your cash value account, to which you can make additional payments at any time, can be tied to a market index so you have the upside of investing in the stock market without the financial risk. The first step toward ensuring you have the income you need during your retirement years is to contact Legacy Group. We can help you understand the various products available that will best meet your needs.
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Legacy offers annuities and IUL's from the top life insurance companies. Discover your options & reach out to our trusted agents if you have any questions along the way.