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Annuities Explained | What is an annuity? Jeff McLeodSummaryIn this 2:08 Annuities Explained video, Jeffrey Scott McLeod, LUTC, covers “Annuities Explained.” The word annuity is Latin annua means annual it means stiped. So its definition is annual income there are two types of annuities there are fixed annuities and variable annuities fixed does not necessarily mean your interest is fixed it means fastened. And then there are fixed index annuities. Also another word that needs to be explained is premium. When you put your dollars with an insurance company you're not loaning your dollars to the insurance company you're insuring your dollars that's why it's called premium the dollars you put into. An insurance company are called premium flexible or multiple premium just simply means you can add to the annuity anytime you like single premium means you can only put dollars in one Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideFixed indexed annuities are a type of fixed annuity that earn interest based on changes in a market index; the interest rate is guaranteed never to be less than zero, even if the market goes down. When you buy an indexed annuity, you are not investing directly in the market or the index. Deferred annuities differ by how you pay premiums—such as single premium, flexible premium, or other patterns described in the contract—and by fees and charges. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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