Fixed Annuity Life Insurance

At first glance permanent life insurance policies and annuity contracts exhibit polar opposite goals. It is designed to protect your principal while providing steady reliable growth based on a fixed rate of interest.

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By mark patterson contributor dec.

Fixed annuity life insurance. Life insurance plans provide income for your dependents if you die sooner than expected. A term life insurance policy covers a specific period of time generally 10 20 or more years whereas the whole life insurance policy is for the entire life of the policyholder. Vfa and valic retirement services company vrsco.

Fixed annuities also enable you to grow your retirement savings faster by deferring taxes until you take income creating income that lasts for life and provide for loved ones through a guaranteed. Life insurance annuities will be fixed interest annuities but as a beneficiary you can choose whether you. The general distributor for variable products is nationwide investment services corporation nisc member finra columbus ohio.

Investors can buy a fixed annuity with either a lump sum of money or a series of payments over time. Life and annuity products are issued by nationwide life insurance company or nationwide life and annuity insurance company columbus ohio. 3 risks of purchasing a fixed annuity a fixed annuity provides guaranteed income for life but there are other factors to consider.

If youre the beneficiary of a life insurance policy you should speak with a certified financial planner who should be able to help you determine whether youd benefit from converting the life insurance death benefit into an annuity. Issuing companies agl and us life are responsible for financial obligations of insurance products. Aig retirement services represents aig member companies the variable annuity life insurance company valic houston tx and its subsidiaries valic financial advisors inc.

Fixed annuities are the original form and the most predictable. A fixed annuity grows at a pre set guaranteed interest rate that serves as a hedge against economic downturns and market volatility. Most life insurance plans can be divided into either term life or whole life insurance.

The nationwide retirement institute is a division of nisc. While life insurance seeks to provide an individuals family with a lump sum fiscal payout if. Annuities are issued by plico in all states except new york and in new york by plaico.

The rate can be concrete for the life of the annuity or periodically adjusted to reflect prevailing rates with a guaranteed minimum. The insurance company in turn guarantees that the account will earn a certain rate of interest. Protective life refers to protective life insurance company plico and its affiliates including protective life annuity insurance company plaico.

A fixed annuity can help you create reliable monthly income that lasts for life. Annuities are long term insurance contracts intended for retirement planning.

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