Summerlin Benefits Consulting Q&AAnswer
Nov 05, 2024 - 09:16 AM
There are three main types of annuities:
- Fixed Annuities: Offer a low but stable interest rate, protecting principal but providing modest returns.
- Variable Annuities: Linked to stock market performance, offering higher potential returns but with greater risk, as principal is not guaranteed.
- Fixed Indexed Annuities (FIAs): Provide growth based on a market index, balancing security with the potential for reasonable returns, as principal is protected.
Each type aligns with different risk tolerances, providing varying income security for retirement.
