Fixed annuities are generally bought from insurance companies. You invest a lump sum of money in their care and in return they provide a fixed interest rate (rates can vary, call or email for a quote).
A fixed annuity is considered a safe, low-risk investment, even though they are not insured by the federal government. They are backed by the insurance company. That is the main reason we only offer Arizona fixed annuities from companies that are considered top ranked and top rated.
A fixed annuity is usually best for longer term savings horizon. If you likely will need the money soon, you may be better served with a different savings product. The interest rate on an Arizona fixed annuity is set for the first year, but can vary in subsequent years. However, Arizona fixed annuity companies company usually provide a minimum, guaranteed interest rate.
After your initial contract year with a fixed annuity you can usually withdraw up to 10% penalty free. But you are also allowed to annuitize the contract, meaning you can elect to take monthly payments. There are various options when electing to annuitize. Ask us for details.
Annuities are great for those who seek a monthly income, with minimal risk.
Are you wondering whether your money is safer with a bank or insurance company? Consider this, during 2008 there were approximately 15 banks that failed while no insurance companies failed.
A fixed annuity in Arizona offers you the ability to keep the money inside the contract and build your nest egg. Or you can withdraw up to 10% per year after the initial contract year. Or you can take monthly payments if you want to annuitize it. An Arizona fixed annuity has many options.
Ask us for more details and a quote on the current fixed annuity interest rate available.
Call (480) 659-0229.
We can provide a fixed annuity quote whether you live in Phoenix, Tucson or anywhere in Arizona!!
Call our office today – (480) 659-0229, or click contact us to send an email.