Annuities in Dayton, OH
Annuities provide opportunities to invest and build savings that can eventually be used for various purposes, such as establishing a reliable revenue stream during retirement or providing financial security for family members. At their core, annuities establish a binding agreement between you and the seller, such as an insurance company; in exchange for purchasing an annuity now, you can rely on a return on your investment in the future.
Types of Annuities
Annuities may come in many forms, and ideal selections may vary significantly depending on your unique circumstances, budget and goals. Given the variety of products that may be available, taking time to understand each type and how they function is an essential step in ensuring wise investments. Consider the following annuity options:
- Fixed annuities can offer low-risk investments. Under these arrangements, your principal and a minimum interest rate are guaranteed. So fixed annuities are not at risk of losing value, although growth potential may be limited.
- Variable annuities typically represent more aggressive investments, as their value and growth are subject to various market conditions.
- Fixed indexed annuities act as a hybrid investment with characteristics of both fixed and variable annuities. These arrangements typically include a minimum guaranteed interest rate and grow according to the performance of a specific underlying index.
- Immediate annuities may be an appropriate choice if you hope to establish a reliable revenue stream and begin withdrawing money quickly and within the first year after their initial investment.
- Deferred annuities are arranged to collect premiums and gain value over time before eventually being paid in either a lump sum or installments. This may make them a potentially logical choice for those seeking to secure their retirement plans financially.
We’re Here to Help
The dedicated staff at Universal Insurance Agency has served the Dayton, OH, area since 1998 and will draw on this extensive experience to help you understand annuities and secure suitable investments. Contact us today to get started.