Retirement is something that many people dread because of the uncertain financial situation that they may get to face. If you are someone who is also worried about your financial future once you retire, there is good news waiting for you in the form of annuities. They will provide you with a fixed income over a specified period of time. You will be getting money at regular intervals of time with annuities.
Most of the leading insurers offer annuity plans these days. Annuities are more or less a contract between you and the insurance company, which provides for regular income. Annuities are classified into two types, immediate and deferred. As the name suggests, with immediate annuities, you will be getting payments at more frequent intervals of time, when compared to the deferred type. There are also different types of deferred annuities that are offered these days namely, fixed deferred and variable deferred annuities. With a fixed deferred annuity you are guaranteed a fixed income for a specified period of time. In the case of a variable deferred annuity, your money would be invested in bonds and low risk government securities, which can fetch you a rate of return. One of the advantages with variable annuity is that you can expect higher long term returns when compared to a fixed annuity.
You can find many insurers selling annuity products these days. A simple online search is all that you need to do in order to find out about them. Before you buy any type of annuity though, it is always preferable that you do some amount of preliminary research on your part. The internet is the best place to find out detailed information about the various aspects of annuities. You can also talk to your insurance agent, who can offer you valuable and honest information on annuity products.
You can also find many annuity brokers who can help you get the right annuity product, suited to your needs. An experienced broker can help you obtain valuable information about the various aspects of annuities such as the premium and the overall performance of the investments in the current market, to mention only two. Even though there are so many sources of information on annuities, you must always remember that ultimately, it is you who has to make the right decision. A careful consideration of all the aspects involved, along with a bit of homework and research will help you choose the right annuity product.