Contact Us: (732) 252-8828
Medicare Supplement Store
  • Home
  • Quotes
    • Medicare Quotes >
      • Medicare Advantage Plan Quote
      • Medicare Supplement Coverage Quote
      • Prescription Drug Plan Quote
      • Instant Medicare Quotes
    • Health Quotes >
      • Health Insurance Quote
      • Long Term Care Insurance Quote
      • Group Benefits Insurance Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
  • Service
    • Policy Review
    • Update Contact Info
    • Policy Changes
    • Contact My Carrier
    • Free Consultation
    • Financial Planning
    • Book an Appointment
  • Insurance
    • Medicare >
      • Medicare Advantage Plans
      • Medicare Supplement Coverage
      • Prescription Drug Plans
    • Health >
      • Health Insurance
      • Long Term Care Insurance
      • Group Benefits
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Newsletter Signup
    • Blog
    • News
  • Contact
  • Home
  • Quotes
    • Medicare Quotes >
      • Medicare Advantage Plan Quote
      • Medicare Supplement Coverage Quote
      • Prescription Drug Plan Quote
      • Instant Medicare Quotes
    • Health Quotes >
      • Health Insurance Quote
      • Long Term Care Insurance Quote
      • Group Benefits Insurance Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
  • Service
    • Policy Review
    • Update Contact Info
    • Policy Changes
    • Contact My Carrier
    • Free Consultation
    • Financial Planning
    • Book an Appointment
  • Insurance
    • Medicare >
      • Medicare Advantage Plans
      • Medicare Supplement Coverage
      • Prescription Drug Plans
    • Health >
      • Health Insurance
      • Long Term Care Insurance
      • Group Benefits
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Newsletter Signup
    • Blog
    • News
  • Contact

Medicare Supplement Store​ Blog

How To Choose The Right Annuities For You

7/18/2022

0 Comments

 
Picture
​Before choosing the right kind of annuities for you, you must first learn the word's meaning. Annuities are insurance-based products or programs that can create income streams in the event of semi or permanent retirement.

It works a bit like a pension. You receive monthly dividends from the insurance company to whom you pay a premium. Now that you know the basic meaning of annuities, you will understand what criteria to look for for the best annuities for your own needs in the future.
​
Here are those criteria as follows:
  1. Your Needs
    First, you have to determine your need for annuity income. Do you intend to turn it into a monthly pension to replace your income upon retirement? Or would you want to receive it as soon as possible?

  2. The Specific Process
    Secondly, would you want your annuities to accumulate over time? This means that your potential income might grow in size, but you may not receive payments right away?

  3. The Amount
    How much you would want to receive in payments can also factor into the type of annuities that you may want to get. If you want a larger dividend, it would be best to defer your annuity payouts. You can do this if you get specific types of insurance policies. 
    ​
  4. Your Health
    The fourth step in choosing the right annuity for you is to consider your health. If you are in great shape, you may be able to qualify for a higher payout. If you have health issues, you may want to consider a product that offers a lower payout but has a guaranteed payout period.

  5. Alternative Sources of Income
    Lastly, you also have to consider any other sources of income that you might have. Does your annuity insurance policy only supplement your existing sources of alternative income after retirement? Or you might rely on the pension from annuities?

    The answers to these questions may determine the kind of annuity insurance you might get in the future. You have to consider these pointers carefully to get the most benefits from your chosen investment.

Additional Information
Here are the different types of annuity insurance policies you can have:
  1. Immediate Annuity Insurance 
    Here, you may get your payouts a year after purchasing the policy. If you want to receive the money right away, this policy might be a good choice.
  2. Deferred Annuity Insurance
    The opposite of the former applies here. You may receive payments from the investment a few years after purchase. This is perfect if you use your annuity insurance as an income replacement after retirement.
  3. Fixed Annuities
    These have fixed interest rates that do not fluctuate over time. This is the perfect option to increase your dividends before you get them.

Final Word
Choosing the right annuity can be a complex process. There are many factors to consider, including your financial needs and the length of time you wish to accumulate funds. The first step in the process is to determine your investment goals. The second step is to find a financial advisor who is a trained professional. They can help you find the annuity that is right for you.

At Medicare Supplement Store, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at  (732) 252-8828 or Click Here to request a free quote.
0 Comments



Leave a Reply.

    Contact Us

    (732) 252-8828
    70 Lacey Rd
    Suite 7
    Whiting, NJ 08759​
    Click Here to Email Us

    Archives

    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    January 2021

    Categories

    All
    ​Annuities
    ​Annuities
    FAQs
    Financial
    Health Insurance
    Insurance
    Life Insurance
    Local
    Medicare Advantage Plans
    Medicare Supplement Insurance
    Prescription Drug Plans
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

Medicare Supplement Store
70 Lacey Rd
Suite 7
Whiting, NJ 08759
(732) 252-8828
Click Here to Email Us
Review Us

Location


We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
Website by InsuranceSplash