Finding the right annuity calculator might be the most important part of your quest to find the best fixed annuities for your specific situation. The Annuity Man® has 4 proprietary calculators and live feeds to provide the highest contractual guarantees available with all carriers.
Below are the 4 annuity types that you can shop to find the best contractual offers to meet your financial goals.
SPIAs have been sold in the United States for hundreds of years and are still the best personal pension plan for lifetime income if you need those payments to start immediately. SPIAs are still the foundation of most retirement income plans or retirement plans that need a guaranteed income floor in addition to Social Security payments or employer pensions (if you are so fortunate).
Below are some key benefits that SPIAs contractually provide:
Deferred Income Annuities (DIAs) are also referred to as “Longevity Annuities” or “Longevity Insurance” because it contractually solves for the fear that you could run out of money. Annuities are the only product type that can guarantee a lifetime income stream, regardless of how long you live. Income for life (i.e. guaranteed income) is what DIAs contractually solve for, and need to be considered for your retirement savings, retirement accounts, and retirement plans.
Below are some key benefits that Deferred Income Annuities (DIAs) contractually provide:
In 2014, our “friends” at the IRS and the Treasury Department introduced the newest product to the annuity category, the Qualified Longevity Annuity Contract (QLAC). I fell in love with this QLAC strategy the first time I was told it was in the works, and immediately wrote the QLAC Owner’s Manual in 2014 to help consumers fully understand this fantastic product. The QLAC Owner’s Manual was the first one of my six Owner’s Manuals that I published. QLACs are, in essence, Deferred Income Annuities (DIAs). A Deferred Income Annuity (DIA) is the cousin of a Single Premium Immediate Annuity (SPIA). The only difference between these annuity types is that QLACs can only be used in qualified retirement plans like your Traditional IRA.
Below are a few key benefits that QLACs contractually provide:
Multi-Year Guarantee Annuities (MYGAs) are also called fixed-rate annuities and are a specific annuity product type that functions similarly to a CD (Certificate of Deposit). Both MYGAs and CDs contractually guarantee an annual interest rate for a specified period, have no annual fees and are fully principal protected.
Some of the key features and benefits that MYGAs contractually offer are listed below.
Fixed Index Annuities (FIAs) offer a potential index call option return (i.e. cap rate on the S&P 500) and contractually provide a guaranteed minimum interest rate. These are 2 separate calculations from a policy standpoint and for illustration purposes. If your retirement plans also include contractually guaranteed retirement income for life, then you can choose to add an Income Rider contractual benefit to the policy at the time of application. With FIAs, you can fund the policy with a lump sum or add money over time (with some policies). This funding flexibility is an attractive feature the most annuity types don’t provide.
Below are some of the benefits that Fixed Index Annuities provide:
An Income Rider is an attached benefit to indexed annuities or variable annuities that provides a lifetime income stream starting at a future date of your choice. We will personally quote all carriers for you to find the highest contractual guarantees for your specific situation.
Below are some of the key features that Income Riders contractually provide.