Annuities are arguably the most common, most utilized, yet most misunderstood financial product available to consumers today. In fact, most investors have no idea that there are a variety of different and unique types of annuities available to them. Instead, most people have been misled by both the media and certain financial personalities who lump all annuities together, as if each one works the same way.
What exactly is an annuity? An annuity is a sum of money that is systematically paid to a person for a specified period of time, often for the rest of his or her life. Essentially, an annuity is a tool used to create a steady stream of income. In addition, they can be used for growth purposes because of their tax deferred advantages, various indexed opportunities and because of their downside protection. Today, there are a variety of different types of annuities available to consumers. It may make sense for you to add one or more to your financial portfolio.
To learn more about annuities or other safe income products, give us a call at (803) 772-4900 and schedule a complementary financial consultation.
*Guarantees are based solely on the financial strength and claim-paying ability of the issuing company and compliance with product requirements.