Principal Advisor, Brokerage Consulting, Flemington NJ
Like the answer to many things in life, the answer is it depends; what exactly it depends on is what you hope to accomplish with the fixed, or equity indexed annuity.
If you are hoping to establish a life time income that can not be outlived, while protecting your beneficiaries if you pass away prematurely, a fixed index annuity with an income rider will accomplish this. If you want to participate in market growth linked to the S&P 500, yet be protected 100% against market declines, this product will accomplish this as well.
Lastly, one of the biggest derailments of sound retirement planning is the threat of health impairments, not covered by traditional health insurance. By choosing the proper index annuity, with the proper income rider, the income stream will double, usually for five to eight years, during impairment.
You need to talk to an adviser that will recommend the proper annuity and income rider, based on your personal situation. If all of the above mentioned factors are in place, and if they are suitable to you as an individual, the short answer is (after the long winded explanation) yes, they are very good products.
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If you are hoping to establish a life time income that can not be outlived, while protecting your beneficiaries if you pass away prematurely, a fixed index annuity with an income rider will accomplish this. If you want to participate in market growth linked to the S&P 500, yet be protected 100% against market declines, this product will accomplish this as well.
Lastly, one of the biggest derailments of sound retirement planning is the threat of health impairments, not covered by traditional health insurance. By choosing the proper index annuity, with the proper income rider, the income stream will double, usually for five to eight years, during impairment.
You need to talk to an adviser that will recommend the proper annuity and income rider, based on your personal situation. If all of the above mentioned factors are in place, and if they are suitable to you as an individual, the short answer is (after the long winded explanation) yes, they are very good products.