Light Drizzle Fog/Mist
48FLight Drizzle Fog/MistFull Forecast

Cy Financial tells you just what an annuity is

SPONSORED • Published: Tuesday, July 15, 2014 3:21 p.m.CDT • Updated: Tuesday, July 29, 2014 11:24 a.m.CDT
Player embeded on all DC instances for analytics purposes.

Being in financial services for over 27 years, I can’t tell you the stories I’ve heard when it comes to Annuities. A particular version of this instrument is one of my favorites for use in designing a strategic income retirement plan. Many people have a misconception of just what an annuity is and can do. The concept of an annuity is simply the pooling of people’s money which is then converted into an insured, guaranteed series of payments over a certain period of time, expressed in terms of years, life expectancy or both. Unlike life insurance, an annuity focuses not on how soon a person will die but rather on how long that person will live. There are a number of versions… one type is “Variable”, a Security based product that is funded with Mutual Fund like accounts. “Fixed-Indexed Annuity”, insurance based - uses the market index as a performance measurement but the client’s money is NOT in the market. Standard “Fixed-Annuity”, like a Certificate of Deposit in its simplicity - insurance based.“SPIA”- Single Premium Immediate Annuity – insurance based - designed for an immediate conversion of a sum of money to an income stream, and others.

The Fixed-Indexed Annuity is a terrific weapon to fend off the fear of outliving our money which happens to be the number one fear among those of us approaching or just entering retirement. I realize I cannot change your mind because all of what you may have read, heard or experienced. But, wouldn’t you agree that a reasonable person could come to a NEW conclusion based upon NEW information? Of course, I thought that’s what you would say! Let me show you how an annuity might help you Sleep Well At Night.

Cy Financial | Toll-Free 844.322.3500 | www.cyfinancial.com

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Reader Poll

After a quarter of the season, how would you grade the Bears?
A
B
C
D
F