There are basically three types of ANNUITIES, and in this video, I go over what they are

There are basically three types of ANNUITIES, and in this video, I go over what they are and what they are not.
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Single, premium, immediate annuities are great for settlements like a car wreck or something where you get $1 million, and they want to make sure you don’t go spend it all. They will put it into a single premium immediate annuity. That way, you can never run out of money. Some old people that don’t have family use a single premium immediate annuity to get as much income as possible that’s guaranteed, and they don’t care about leaving a death benefit behind.
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Multi year guaranteed annuities are great tools to get a guaranteed retirement income or just a beat a certificate deposit or CD. These average anywhere from 5 to 7% with a 3 to 7 year contract. Depending on how long you want to be in that account.
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And then the last but my favorite or index ANNUITIES, the problem with index annuities are that online agents and advisors are pushing them as the end I’ll be all. You can average 10 to 15% in these accounts risk-free. If that was the case then no one would be in the market averaging 9.4% over the last 30 years but instead they would be in index annuities where there’s absolutely no chances of loss and there are no charges with these accounts.
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A lot of these so-called gurus online are showing 10% average rate of returns with massive bonuses. A bonus is where you roll over let’s say, $1 million from an old 401(k), and they immediately give you a 25% bump, so year two, you have 1.25 million. You tell me if you think that’s too good to be true, the reason why it is, insurance companies aren’t stupid they are the number one place in the United States for risk mitigation and they know how much a policy or account should return over a lifetime. So if they know they are going to credit you 7% on average for the rest of your life and they give you a 25% bonus later on down the road, they are going to subsidize that business. Does this help?? If any of these accounts you are interested in, just comment MYGA SPIA or FIA
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