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What is an Annuity?
We think it depends on who you ask. It seems people are confusing the differences in annuities more and more lately. The bottom line is an annuity is a contract between you and a insurance company. You provide the insurance company with an amount of premium (money) in exchange for a specified and contractual guaranteed return. That return can vary depending on what type of annuity you purchase. But all annuities offer a minimum guarantee. We will discuss how rates/returns can vary in other posts. Some common types of annuities are fixed annuities, fixed indexed annuities ( also referred to as equity indexed annuities), immediate Annuities, multi-year guarantee annuities (also referred to as MYGA’s), and variable annuities. Variable annuities are the only annuities classified as a securities product . When you hear annuities mentioned on TV shows such as CNBC and MSNBC usually they are referring to variable annuities. Again, we will discuss these different types of annuities in later posts so please stay tuned.
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The writer of impressiveinsurance.com has written a superior article. I got your point and there is nothing to argue about. It is like the following universal truth that you can not disagree with: Mornings would be much easier to handle if they just happened later in the day. I will be back.