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Explore the Benefits and Types of Annuities for a Tailored Retirement Strategy
Annuities have a rich history that dates back to Roman times when they served as contracts providing annual payments over time. Even Benjamin Franklin, one of America’s founding fathers, saw the value of annuities in offering deferred payments for future financial stability. Today, annuities continue to provide a secure and reliable source of retirement income. In this guide by Infinite Retirement Solutions, we’ll explore the various types of annuities to help you determine which option best suits your needs.
An annuity is a contract between you and an insurance company in which you make a lump-sum payment or a series of payments, in exchange for regular disbursements either immediately or at a later date. Annuities can be structured as fixed, offering a set amount of income, or variable, with the potential for income growth. Their main advantage is the ability to provide guaranteed lifetime income, ensuring you don’t outlive your savings. Contact Infinite Retirement Solutions to learn more about how annuities can benefit your retirement plan.
Different annuities cater to various client needs and preferences, such as immediate income or deferred payments. This section will discuss the main types of annuities available through Infinite Retirement Solutions that can help protect against inflation, disappointing investment returns, or sequence of returns risks.
Variable Annuities: Suitable for those seeking retirement savings growth in the stock market while accepting potential fluctuations in returns and principal loss. The value of a variable annuity is determined by the performance of an underlying portfolio of investments.
Income Annuities: Also known as immediate annuities, these provide a “pension-like” payout for those who prefer a consistent and guaranteed income stream.
Deferred Annuities: As the name suggests, these annuities disburse payments at a future date chosen by the annuity owner. They offer a more predictable growth approach to savings and allow for tax-free premium growth until payouts begin.
Discover the right annuity for you with Infinite Retirement Solutions.
Annuities offer a diverse range of options to help you achieve your financial goals. Speaking with a financial professional at Infinite Retirement Solutions can guide you in selecting the right annuity that aligns with your specific needs and desired risk level. Explore your options and secure your financial future with annuities.
The concept of annuities has stood the test of time, offering a reliable source of retirement income for generations. Understanding the various types of annuities and their benefits can help you make informed decisions about your retirement strategy. Consult with the experts at Infinite Retirement Solutions to determine the best annuity option for your unique financial goals and secure a comfortable retirement.
*All guarantees are backed by the claims-paying ability of the issuer.
The Guaranteed Future Income Annuity (GFI) is issued by New York Life Insurance and Annuity Corporation, a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. All guarantees are dependent on the claims-paying ability of New York Life Insurance and Annuity Corporation (NYLIAC). Available in jurisdictions where approved.
For most jurisdictions, the policy form number for the New York Life Guaranteed Future Income Annuity is ICC11-P100. It may be 211-P100, and state variations apply.
The Future Mutual Income Annuity is issued by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. All guarantees are dependent on the claims-paying ability of the issuer. Available in jurisdictions where approved.
The policy form number for the New York Lifetime Mutual Income Annuity is 214-P200. The policy form number for the New York Future Mutual Income Annuity is 215-P200. State variations may apply.
In most jurisdictions, the policy form number for the Premier Variable Annuity II is ICC15-P301, or it may be 215-P301. State variations may apply.
SMRU 1872753
New York Life Variable Annuities are issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation) and offered by properly licensed Registered Representatives of NYLIFE Securities LLC (Member FINRA/SIPC), A Licensed Insurance Agency. NYLIAC and NYLIFE Securities LLC are wholly owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010
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Infinite Retirement Solutions (“Infinite”) is an independent provider of financial and insurance products, not affiliated with Medicare, Medicaid, or any other government agency. Information presented here is for general knowledge only and shouldn’t be considered personalized financial or insurance advice. We strongly recommend consulting qualified professionals like financial planners, tax advisors, and legal counsel to determine the suitability of any product or service offered by Infinite. Investments involve inherent risk, including potential loss. Specific product features, limitations, and exclusions may vary. Please refer to the actual policy wording for complete details. Infinite is headquartered in Florida.