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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.
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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What Our Clients Have to Say…
Jen with IPA has been very helpful
Jen with IPA has been very helpful in working with me to select the best coverage at the best rate for our 3 cars. She is friendly, professional, and most of all response to my calls/e-mails in a timely manner.
Kim Iverson was fabulous to work
Kim Iverson was fabulous to work with in finding the best rate for my car insurance. She continued to follow up with me, answering questions to ensure my needs were being met. I’ve recommended her to my friends.
Chris was more than helpful!!
Chris was more than helpful!! Not only did he find me a lower rate per month, but I now have a $0 deductible for glass coverage and also a better insurance company with Progressive! I couldn’t be more thrilled to find someone local from my hometown and he was able to help me save! Thank you again much appreciated! So glad I found him from Mesa Roots FB page!!
She listens to what your desires are
Kim is a great agent. She listens to what your desires are and then finds the best match for you. Year after year she is able to find me the rates for all my coverage needs! I would highly recommend Kim for your insurance needs.
I met Kim years ago at a conference
I met Kim years ago at a conference and we have stayed in touch. I had some clients moving to her area so referred her over and my clients are THRILLED. They loved the experience with her, her professionalism, her ability to work with them long distance and her patience while they went in/out of contract on a couple places.
He obtained what he exactly want
We came to IPA with a request for quotes on auto, golf cart, and home insurance. Our contact was Chris Thomas and we were more than happy with his response, all in a very timely and professional manner. He obtained exactly what we needed and got coverages bound in less than 48 hours from our initial phone call.
Customer Service is Alive and Well at IPA!
Customer Service is Alive and Well at IPA!! This morning I had a question about my business insurance policy renewal and reached out to Kirsten Walters at Insurance Professionals of Arizona. No matter how busy she might be, Kirsten always focuses 100% on your issue, taking as much time as necessary to fully address the matter.
Honestly, I had been having issues
Honestly, I had been having issues with my previous insurance company and the UPS guy that visits my work regularly told me about this place. I called, spoke to CHRIS THOMAS and he was the best person to speak to! He was very easy to talk to and made everything simple and fast. Getting a quote and signing up was super easy and smooth! Thank you Chris!
They treat me like family
They treat me like family and are always available. Even though I live in Texas, they’ve found me the best rates every year for home and auto. I’ve been so satisfied that I referred my own kids and mother to them. I look forward to working with Porter and Dixie for years to come.
5.0 star ratings