Annuities - variable annuity, fixed annuity rate quotes.

Learn the types of annuities, variable annuity and fixed annuity, and get a free annuity quote online.

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Did You Know??? Annuities offer a powerful combination of tax deferral, investment options and safety, and are a valuable part of your retirement plan.

Annuities allow the investor to combine tax deferred investing with some loss protection. An annuity has the ability to convert money into an income stream either guaranteed for life, the life of you and your spouse, or for a specific period of time.

Annuities are retirement savings vehicles. Earnings within an annuity grow tax-deferred until retirement age. You can change annuities or switch the investments within your annuity without incurring a taxable gain. If you withdraw money prior to age 59 1/2 you'll owe a 10% tax penalty on the earnings in addition to any income taxes that are due.

Annuities don't have annual contribution limits. Save as much as you wish and make either a lump-sum investment or scheduled contributions. This helps you save additional tax sheltered money after you have maximized your employer's retirement plan and other IRA plans.

Another advantage variable annuities offer is protection for beneficiaries. If you die before receiving income, your beneficiaries will receive, at minimum, the amount you paid into the annuity. Many contracts offer step up benefits where investment gains are locked in regularly so your beneficiaries will receive the higher of either your original investment or the gain as of that lock-in date, even if the value has dropped back down at the time of death. With a mutual fund; however, your beneficiaries inherit only what your account is worth at the time of death, even if it’s less than the amount you invested.

Annuity Information:

An annuity is an investment type insurance product of different types and many have steep fees and hard to understand restrictions.

Some annuities charge as much as 8 percent if you pull out money in the first year or two, with commissions as high as 10 percent for the agent selling the annuity. However, annuities hold a rightful place in some investment portfolios when chosen carefully.

Fixed, Variable and Equity-Indexed Annuities: Fixed annuities offer a set rate of return. Variable annuities' return is based on the performance of investments in the annuity's portfolio. Equity-indexed annuities typically offer a blend of both: A minimum fixed rate of return plus a variable rate based on the return of a particular stock index. This gives you a guaranteed return, combined with a chance to capture the index's market gains. But know that your return may be capped at less than the index's performance.

You can buy fixed or variable annuities that are deferred - that is, you're putting money aside for a future date - or you can buy fixed or variable annuities that are "immediate," where the insurance company turns your lump sum into a monthly income stream.

That monthly payout is a valuable tool to ensure a guaranteed level of income through retirement, but annuitizing your money generally means giving up control of that lump sum.

Many annuity products now offer a variety of add-on features, such as a guaranteed monthly income stream without annuitizing while keeping control of your money. But these features cost extra.

There's an estimated $1.3 trillion in net assets in variable annuities alone. Probably some of those investors would be better off investing directly in the mutual funds they're buying through those annuities. Variable annuities charge annual expenses of 2.37 percent on average, according to investment researcher Morningstar Inc.

Still, Vanguard Group and Charles Schwab & Co. are among the biggest firms selling low-fee annuities, and some products have no early-surrender charges.

Of the various annuity types, immediate income annuities are most likely to get financial planners' thumbs-up, because they may well serve a conservative investor who lacks a traditional pension.

But financial planners disagree when it comes to deferred annuities.

One benefit is tax-deferral on gains, but your retirement account already offers this perk - and it's probably much cheaper. Consider maxing out your retirement accounts before buying a deferred annuity. If you're already at that point, deferred annuities can be attractive since they don't have contribution limits.

Also, annuities offer appealing guarantees. For instance, some guaranteed payouts (those that don't require annuitization) are based on a percentage of your investment, say, 5 percent. If the account grows over time due to market gains, you'll receive the same preset percentage payout, but based on a higher amount. Annuities' guaranteed death benefits also appeal to many investors.

Fees and restrictions

Annuities' annual expenses vary widely. Find out how much you'll shell out each year, and assess whether those fees are worth the benefits. Also, find out what you'll pay if you need your money before the surrender period is finished. Remember that deferred annuities are long-term investments with surrender charges as high as 8 percent on early withdrawals.

Teaser rates

Confirm the rate of return the insurance company is promising, and for how long. For instance, a fixed annuity's guaranteed rate may decline after an introductory period.

Also, the insurer must be financially sound enough to pay benefits over many decades. Check the company's standing with ratings firms such as Standard & Poor's, Moody's Investors Service and A.M. Best.

Tax benefits vs. costs

You'll pay ordinary income tax on payouts from your annuity, unlike the more favorable long-term capital gains rate you'll pay on a regular mutual fund. One perk: Unlike IRAs, you don't have to take withdrawals starting at age 70½. But annuity owners face a tax hit for withdrawals before age 59½.

Inflation crunch

Even though guaranteed income is a major benefit of annuities, that income stream might not look so attractive once inflation takes its toll. You'll likely pay extra for inflation protection, but it's probably worth it.

Obtuse contracts

Planners say annuities are "sold, not bought." Turn that around by comparing products. Given the complexity of these contracts, have an independent financial adviser assess the details before you get locked in.

But don't let an adviser switch you into a "new and improved" annuity. If you haven't yet completed your surrender period, you'll likely pay steep surrender charges, plus start the clock ticking on a new surrender period. Still, a switch might be acceptable if you move into an annuity with much lower annual expenses and better benefits. Make sure your agent makes the switch through a valid Section 1035 exchange to avoid a tax hit.

Investments and Retirement:

There are options for investments before and after retirement. One thing anyone can do is to learn new financial skills and to take financial classes to gain knowledge about money, investing, and finances. If this type of learning is not for you, a financial expert can be very valuable. Money is necessary after retirement for paying expenses and bills. Some facing retirement only plan for fun activities like traveling, but it is important to meet all possible expenses and make sure retirement money does not give out. It is not wise to sit back and wait for retirement benefits to start but to help build funds that will last through the retirement years. Strive to keep retirement funds growing to have the best possible retirement.

* Create a detailed retirement plan.

* Consider bonds as an investment as they mature over time.

* Start saving and keep saving before retirement even starts.

* Research investment options yourself or get a financial advisor to give advice.

* Don't leave retirement years to chance, take an active part in planning for them.

* Review insurance companies and financial institution investments to get the most out of investing.

* Stocks can be an option as businesses can grow and profit and shares can increase.

* Consider buying real-estate as an investment as the price of properties can increase and it could be sold.

* Consider getting an IRA ( investment retirement account ), there are several types and they can have tax advantages.

* Review affordable insurance plans, weigh the pros and cons of each company, and choose a plan that will fit your medical needs and budget.

Life Insurance

Many consumers use mutual funds, stocks, annuities and 401(k) plans for retirement income or college expenses. There is the variable universal life insurance that gives the protection of life insurance that has tax deferred growth and the benefits of income tax-free transfer of assets to beneficiaries in the form of a death benefit.

Agents sometimes try to promote a cash-value insurance policy as a way to invest for retirement and that it is like a savings. Yet retirement plans like 401(k)s force you to save too. The money that builds up in a cash-value policy can grow tax-deferred but money in IRAs and 401(k)s do too. Cash-value insurance can be a costly way to invest as it can be more expensive than a regular term insurance policy. There may be a surrender charge if the policy is dropped within the first 10 years or so. A surrender charge varies by insurer and the type of policy and it could exceed the total amount of the first-year premium.

Then there are annual investment fees and it can be difficult to know how much you are paying. They are usually disclosed in variable life or variable universal life policies. Investment management fee could be as high as 2% a year along with an annual fee called the mortality and expense charge or M&E. This is a fee to assure the insurance company makes some profit. Fees for a cash-value life insurance can pull down returns. When life insurance is needed, consider getting term insurance and then consider IRAs, 401(k)s or other types of retirement plans.

Insurance Investment

Sometimes Agents try to sell consumers a cash-value policy as a way for them to invest for retirement and may say that the investing component is a forced savings. But consider that retirement plans like 401(k)s is a way to force you to save too. Money that builds up in a cash-value policy can grow tax-deferred, but money in IRAs and 401(k)s do too and a cash-value insurance could be a poor investment that is costly.

The cost of the insurance protection itself can be more expensive than what would be paid for a regular term insurance policy. There many be marketing and sales commissions along with a surrender charge that may be levied if the policy is dropped within so many years. The amount of a surrender charge varies by insurer and type of policy, but could exceed the total amount of a first-year premium. Then there are annual investment fees which can be difficult to know the cost. In policies where they are disclosed, they could be 3% or more, year end and year out.

The investment management fee, which could be as much as 2% a year and the annual fee, or mortality and expense charge is a fee to assure an insurance company gets a profit. The fees for cash-value life insurance can pull down the returns. Index mutual funds often have annual expenses under 0.5%, and many mutual funds charge about 1% which is less than 3% for an investment component on a cash-value policy. Consider the options of getting term insurance and to invest for retirement, invest in IRAs, 401(k)s or similar retirement plans.

Invest Retire

Most would like to save on taxes in retirement years and a secure retirement means financial plans must always be monitored. Finding ways to help retirement life be less taxing has never been more important. The best goals are trying to keep what has been earned instead of what you could earn.

Be aware that if income during retirement is about $60,000, you would need around $80,000 to cover federal taxes. It is important to plan for such reductions in funds. With this in mind, the best way to plan is to try to keep what you have. Review all sources for income before retirement years roll around. Figure current taxes as well as what taxes may be during your future retirement. Once you do this, figure in withdrawals that take tax information into account. Plan on about 25 or more years for retirement years. Inflation and how your income will grow or be reduced are factors to consider. Try to determine with these things in mind, what value your nest egg will be in retirement years.

Investing in a mix of assets that fits the risks you are willing to take, and how inflation can affect income are things to work around. When working, it could be better to put assets in accounts in which the tax on income and capital gains is deferred until retirement age. This is because distributions will be taxed at a lower tax rate. The other advantage is that any gains that could be eroded by current taxes, would be left to accumulate. Some IRAs and 401(k)s allow for contributions that are excludable from current income.

Almost 70% of pre-retirees plan to work part-time or full time in retirement years. Some plan never to retire. Yet by continuing to work, Social Security benefits are reduced by $1 for every $2 of earned household income over $13,560. When you attain full retirement age, benefits are reduced by $1 for every $3 of earned income over some $36,00 for the months until you reach full retirement. After reaching full retirement, there is no reduction in benefits due to earned income. Social Security benefits may be taxable if household income exceeds $25,000 for single people and $32,000 for couples. It can be important to get professional counseling and consult a tax advisor for retirement years as investing and taxes can be complicated. It is very important to consider risks and expenses carefully before investing any of your hard earned money.

Investing Insurance Retirement

Mutual funds are is one of the best investment vehicles and can be a good part of a retirement plan, and you can get professional management. Smart people can have the job of selecting investments for the fund you’ve chosen while you are doing other things.

There is also some diversification, as there could be a hundred stocks or more in one fund. The disadvantage to a mutual fund is that there is no guaranteed, return and stock mutual funds can increase or decrease in value due to fluctuations in the market. This means you may either make money or lose it.

A savings account or a CD with a major bank has FDIC insurance to cover your losses but for an investment to have a chance of out-pacing inflation, it can’t be tied to any particular fixed rate of return. Federally insured CDs and savings accounts are good for retirement planning, but not as a means to wealth-building.

Research some stock mutual funds so that you can compile some questions to ask a financial advisor. Evaluate the track record, management team, and types of stocks within the fund. Review the fund’s earlier track record and how the fund has performed over the last one, three, and five years. Sometimes a 10-year history is available but it may not be helpful because things can change over the years. Keep in mind that past performance doesn’t guarantee future results, but it could give you an idea whether the fund manager knows how to maximize returns. If you check the track record of a particular fund, find out if the same manager is in charge.

Consider the fees because there are a variety of charges associated with mutual funds like commissions, marketing charges, and fees due upon sale to name a few. Of course the more charges you pay, the more your return is reduced and you will want to evaluate the risk factors. Look at a fund’s risk category to see if the funds are low, medium or high risk.

This is only the basics of what you really need to know to make a good decision. Never invest without doing some research and get advice from a qualified financial advisor. It is best not to invest in anything you don’t understand and don't be in a hurry to invest. Most consumers believe you should never have all your eggs in one basket, but have a mix of stock funds, bond funds and cash savings and align these with your investment objectives and retirement plan. Financial advisors can give advice for the type of investments based on your age and risk tolerance.

It is important to do some math, for example, if you invested $1,000, and in one year it earned a 50 percent return, and the next year it lost 50 percent, a thousand dollars making a 50 percent annual return would total $1,500. If it then loses 50 percent, it would now total $750 and you lost money. Look closely at the risk factor and your principal amount. Aggressive growth stock mutual funds can be the highest risk as compared to money market funds which would be the lowest on the risk scale. Money market funds usually pay more interest than regular savings accounts, but as interest rates rise in the general market, money market returns also rise.

Usually the younger you are, the more you may want investments in stock funds, which may be able to give you a higher return in exchange for higher risk factor. This means that less money would go into bond funds and cash investments. As you get older, some of your nest egg should stay in stock funds to help hedge against inflation, but more of it should go into bond funds and cash investments. Again it is important to do some research and seek professional help to get a plan that suits your individual needs and goals.

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