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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.
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. Annuity guarantees
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 ...
Benefits of variable annuities. Variable annuities tend to be more appropriate for investors with higher risk tolerances who have already maxed out other retirement plan options, like a workplace ...
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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