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Episode 11: Annuity Series Pt. 3 – Annuity X-Ray – The 5 Types of Annuities

Jun 17, 2019

Nate goes over the 5 types of annuities and their different features in Part 3 of his Annuity Series – “Cutting through the Crap!”

Here are just a handful of the things that we'll discuss:

  • Nate lays out the five different types of annuities
  • He explains that there are two different categories: immediate and deferred
  • He outlines the various objections people have to annuities and applies them to each type

Annuities are insurance contracts designed for retirement or other long-term needs. Fixed annuities provide guarantees of principal and credited interest, subject to surrender charges and a death benefit for beneficiaries. Withdrawals will reduce the contract value and the value of any protection benefits. Additional withdrawals taken within the contract withdrawal charge schedule will be subject to a withdrawal charge. All withdrawals are subject to ordinary income tax and, if taken prior to age 59 ½, may be subject to a 10 percent federal additional tax. Riders are generally optional and have an additional associated cost. Annuity guarantees and protections are backed by the financial strength and claims paying ability of the issuing insurer.

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