Summerlin Benefits Consulting Q&AAnswer
Nov 05, 2024 - 09:14 AM
An annuity is a financial product that provides consistent income in retirement. It can be structured as fixed payments for life or for a set period, helping retirees cover living expenses. Options like Fixed Indexed Annuities (FIAs) offer security by protecting the principal, while other types like variable annuities may carry more risk but potential for higher returns. FIAs, in particular, combine growth potential with safety by linking returns to a financial index without stock market exposure.
