Long-form
What Is A Single Premium Annuity?SummaryIn this 0:32 Annuities Explained video, Jeffrey Scott McLeod, LUTC, covers “What Is A Single Premium Annuity?.” What is a single premium annuity? The word annuity means annual income. Premium means the dollars you put in, and single means you can put dollars in one time, never again. A modified single premium annuity means generally means the insurance company will allow you to add during the. A flexible premium means you can add dollars anytime you like at any frequency. Get the buyer's guide in the description or Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideDeferred 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. When you start income, annuity payout options can include payments for life, for a period certain, or combinations described in the contract. The 2022 guide lists payout options and questions to ask before you buy. 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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