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Many annuity companies have relatively low minimum premiums, often as low as $2,500 to $5,000 for some types of fixed annuities and around $10,000 to $15,000 for variable annuities.
In 2023, sales of variable annuities dropped 17 percent, even as sales of fixed annuities soared, according to LIMRA, the largest U.S. trade association for the insurance industry.
When shopping for an annuity, look for companies with high ratings from reputable rating agencies such as A.M. Best, Moody’s and Standard & Poor’s. ... Variable annuities are subject to market ...
A variable annuity is a contract between you and an insurance company that can provide income in retirement. All annuities work like this: You pay a lump sum or a series of premiums to the insurer ...
The post Best Types of Annuities for Retirement appeared first on SmartReads by SmartAsset. Annuities can provide retirees with a guaranteed stream of income, but choosing the right type is key to ...
2. Variable annuity. A variable annuity allows you to get a payout that may grow over time by investing your money in various mutual funds or other funds that hold stocks, bonds and other assets ...
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