Annuities - The Ideal Tool For Assuring Security

Every retiree dreams of a comfortable and joyous retired life

. He tries to hunt such financial schemes that can be equivalent to a steady income after he retires. Well, the obvious option is pension. But these unconvincing schemes should always be avoided for they can never provide you a hefty income. Moreover, most of the modern pension schemes come with low interest rates and therefore you can never be complacent with such financial support. Now, if you want to ensure security for your financial life, go for annuities. They are undoubtedly treated among the stable streams of income that can help you to fulfill any need of yours.

Nowadays, deferred annuities are fetching plenty of retirees from various corners of the globe. A deferred annuity is a sort of an annuity plan where the applicant have to pay premiums for a given period of time. Once the time period expires, you can still withdraw cash from your very own investment. Its almost like an insurance premium. Well, you are not subjected to any taxation. When you begin to withdraw money, you will have to pay taxes.

Now, deferred annuities are always best for retired individuals. Once you avail a deferred annuity, you are ensured of a steady financial growth after retirement. The years of retirement are certainly the most uncertain period of your life. In fact, you make several plans for your family and kids and find that you cannot afford to execute your plans owing to your frail financial schemes like pensions etc.

While working, you remain absolutely indolent about your future and feel confident on your accumulated income throughout the years. However, such a thought is always harmful for your future and therefore you must plan for such secured and powerful financial schemes that can take care of your domestic as well as other expenses. So why not take deferred annuities as your future guide?

Since annuities are future dependent tools, don't commit any blunder in choosing an insurance company. Before you choose any company for availing annuities, make sure that they have a clean record in offering services. Remember, the company you are choosing should stand by you for the remaining days of your life. If anyhow you come into terms with a wrong insurance company, you might have to wait for a dark future as you might lose everything. Consequently, it can be a mammoth's task to rebuild all your savings. Don't forget to check the company ratings because these highly rated companies offering annuities can assure to go for a sound slumber. Your money remain absolutely safe with them and you can always lead a carefree retired life.

There are two phases of deferred annuities accumulation phase and distribution phase. As far as the accumulation phase is concerned, the annuity holder needs to make regular payments to the insurance company which are in fact collected and invested to earn interest. According to the distribution phase, the insurance company gets the collected proceeds dispensed as per the terms of the contract. Deferred annuities can be classified into Fixed deferred annuity, Variable deferred annuity and Index deferred annuity. Its advisable that you contact an agent and get to know your suitable scheme for deferred annuities.

by: Brad Lassyy

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