Mar 20, 2013
By Rick Law, Elder Law Attorney, and Senior Advisor in Aurora, IL
Fixed Annuities are investments issued by insurance companies that are primarily geared toward retirement savings, promising the investor a fixed series of payments for a predetermined length of time.
Not all fixed annuities are the same, so investors must compare one fixed annuity with another in a couple of key areas.
First, there are two options for owners of fixed annuities when it comes to paying premiums:
Next, fixed annuities typically provide the account holder options as to how benefits will be received, utilizing one of two distribution methods:
Once a time period is selected for payouts to begin, one must also compare the length of time that their fixed annuity will pay. There are primarily three payout periods with fixed annuities:
If you’re ready to start getting your estate in order and secure your assets for the “worst-case” scenario, please give our office a call at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now.
Elder Law Attorney at Law Elder Law, LLP
Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Appointments available in Chicago, Aurora, Oak Brook, Schaumburg, and Joliet. Call 800-310-3100 for your free consultation now!
“Everyone in the office was absolutely wonderful to work with whether on the initial set-up of the trust, adjustment to such following my father’s passing, or processing of his home sale and proceeds.
They genuinely care for your family’s well-being and walk you through each step of the process. They are also exceptionally responsive even when parties involved live in different locations.
This is a definitely a team you can trust and one I highly recommend.”
W.W., Client of Law Hesselbaum