Fixed Annuities

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    What is Arizona Fixed Annuities?

    Annuities ensure that you never outlive your money.

    If you have money sitting around in a savings account, it is probably earning you less than 1/2 a percent in interest. If you want guaranteed income at a fixed rate during your retirement, you might consider moving some of that money into a fixed deferred annuity.

    In the right fixed annuity, the principal investment and interest growth are both guaranteed. You will most likely earn more than what you are from the bank and your money will be protected, is tax deferred, and will grow to help with retirement. This additional income could even be carried over to your spouse or children.

    But you don’t have to wait until retirement to earn income from your annuity. After the first seven years, you can start to receive income without any fees. You can deposit a lump sum up front or make deposits of any size during the accumulation period.

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      Frequently Asked Questions

      An annuity is a fixed payment made to you for the rest of your life. When you open an annuity, you either deposit a lump sum or make various payments over time to accumulate in the annuity. The money you deposit will grow over time. The money earned within the annuity is tax deferred until you annuitize (withdraw) your earnings. An annuity is a qualified retirement plan.

      A fixed annuity  has a guaranteed minimum interest rate. This means that the growth of your annuity is not tied to the success of investments on the stock market. Your income payment amounts are guaranteed. The risk of investment is placed on the insurance company rather than the owner of the annuity. The premium invested goes into a general account rather than a separate account. Insurance Professionals of Arizona offers fixed annuities.

      A variable annuity is more risky since your premium investments are placed into various mutual funds. Your interest rate and income payments are not guaranteed as they can rise and fall depending on the stock market. For those that have investment experience, variable annuities could be profitable if they are willing to take some losses to eventually have gains. But the annuitizer bears the full risk of investment, not the insurance company.

      The primary use of an annuity is for retirement income. For example, a fixed annuity provides you with a guaranteed interest rate and payment amount off the earnings from your premium investments. Once you reach retirement age (or sooner, depending on your financial circumstances), you can begin to withdraw funds on a regular basis as retirement income. You can decide whether you want to receive income payments for the rest of your life or for a set number of years. You can also arrange for your annuitized income to be passed on to a survivor or beneficiary. In short, annuities help you to never outlive your money.

      This is completely dependent on your financial goals. If you are in good financial standing and want reliable retirement income, an annuity would be a good fit for you. Insurance Professionals of Arizona recommends fixed annuities for most individuals. The reduced investment risk provides you with guaranteed interest rates and payment amounts.

      Also, age is not a factor. Whether you are 19 or 79, you can benefit from an annuity. You can also annuitize at any age as long as you have invested premium for at least seven years. As long as you are legally an adult, you can receive income payments from an annuity.

      If you already invest and are looking to expand your investment opportunities, an annuity can do that for you. As long as your risk tolerance is high, you would be a good fit to have an annuity, especially a fixed annuity. Currently, IPA does not offer variable annuities.

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