Medicare Part D
How Are Prescription Drugs Covered With Medicare
Original Medicare does not cover prescription drugs. However, Part D Prescription Drug Plans are available to fill
September 11, 2020
Why Buy an Annuity?
Our clients purchase annuities because they want a guaranteed source of income in the future that isn’t prone to market fluctuations. Annuities have a key advantage over other investments. Unlike stocks, bonds, and mutual funds, annuities provide predictability and guaranteed income. With a basic annuity, the only way your payments would ever stop early or go down is if the issuer were to become completely indebted.
Types of Annuities
A fixed annuity is an insurance product that’s intended for the long term. Your initial investment is protected, which means you get a guaranteed payout. People who want a risk-free guaranteed rate of return and wish to defer paying taxes on their earnings may select fixed annuities.
A variable annuity enables you to choose from a collection of investments, and then pays you income in retirement based on how well these investments perform. Variable annuities may offer optional living benefits that, for an extra fee, provide guaranteed retirement income.
Who Buys Annuities?
Retirees and people planning for retirement typically purchase annuities. Sometimes a person buys an annuity if they receive a large legal settlement or happen to win the lottery, for example. Also, people buy annuities when they make their wills.
It would probably not be wise to leave children a large amount of money with no limits. Therefore, an annuity would be a great way to provide them safe and guaranteed income for several years.
