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Annuities
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Types of Annuities
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The Different Phases of an
Annuity
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Fees, Expenses and Bonuses
to Watch For
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Sub Accounts
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1035 Exchanges
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The Different Phases of an Annuity
1.
The accumulation phase
is when the premiums are being paid and the value of the policy is growing,
either at a fixed or variable rate of interest.
2.
The payout phase occurs when the payments are being made to the annuity holder. Policy
holders can be paid a lump sum, periodic payments (when you need the money),
systematic payments, or systematic payments for your life (annuitization),
or the longer of either your life or your spouse’s life. Payments can also
be fixed or variable. Death benefits and nursing home payouts are also
available. Be careful! Annuitizing an annuity (an oxymoron, if you think
about it) can be an irrevocable
transaction.
Review the following topics for
more information on
annuities:
Introduction
Types of Annuities
Fees, Expenses and Bonuses
Sub Accounts
1035 Exchanges
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