FAQs

What is an Annuity?

an·nu·i·ty/əˈn(y)o͞oitē/Noun

1. A fixed sum of money paid to someone each year, typically for the rest of their life.

2. A form of insurance or investment entitling the investor to a series of annual sums.

An annuity is a contract between an investor and an insurance company that pays out income and can be used as part of a retirement strategy. Annuities are a popular choice for people who want to receive a steady stream of income during their retirement years.

When you purchase an annuity, you have the option to receive payments on a future date or a series of dates. Payments can be monthly, quarterly, or annually in a lump sum.

What types of Annuities do you offer?

There are 4 types of Annuities:

• Fixed Annuity
• Fixed Indexed Annuity
• Charitable Gift Annuity
• *Variable Annuities

*Senior Planners of America DOES NOT sell variable annuities because variable annuities put your principal at risk. Variable Annuities are tied to the stock market and sold by stockbrokers.

What do you charge for your services?

Senior Planners of America DOES NOT charge you a fee. All our services are free and available to you. Our agents are compensated by the insurance companies that supply the products we offer.

I don't live in Florida, can you still help me?

Senior Planners of America has agents based all over the country and probably have one near you. Call us to find out if we can help you.

Is my money secure?

States require the insurance companies to put back money into reserve to meet their financial obligations and they are highly regulated by the state insurance boards. Senior Planners of America only works with the highest rated insurance companies by Standard & Poor's and Moody's. In over 15 years, no client of ours who has ever purchased a Fixed/Indexed annuity has ever lost a dime.

Do Annuities have any tax benefits?

Yes. The money that you invest in an annuity grows tax-deferred. When you make withdrawals, the amount you contributed to the annuity is not taxed, but your earnings are taxed at your regular income tax rate.