Annuities

In its most general sense, an annuity is an agreement for one person or organization to pay another a stream or series of payments. Usually the term “annuity” relates to a contract between you and a life insurance company, but a charity or a trust can take the place of the insurance company.

There are many categories of annuities,They can be classified by:

Nature of the underlying investment – Fixed or Variable
Primary purpose – Accumulation or Pay-Out (Deferred or Immediate)
Nature of the pay-out commitment – Fixed Period, Fixed Amount, or Lifetime
Tax status – Qualified or Nonqualified
Premium payment arrangement – Single Premium or Flexible Premium

These videos are for educational purposes. We represent many of the top carriers available. We will review your unique situation and be able to offer you a variety of carrier products and plans to choose from.

A Medicare Supplement Insurance Plan is used with original Medicare. Any caregiver that accepts Medicare will take a Medicare Supplement Insurance Plan because they only need to bill Medicare. Medicare pays their part (generally 80% of Medicare covered benefits) and sends the remainder of the bill to the Supplement which pays their part (generally 20%). It is important to note that Medicare Supplement Insurance Plans do NOT include Prescription Drug Coverage (Part D, PDP) and for those that do not get a PDP when first eligible there will be a penalty when they do get a PDP. (there are exceptions to this) A Medicare Supplement Insurance Plan does not change year to year (although the cost does generally go up the coverage does not change).

Annuities

There are many categories of annuities,They can be classified by:

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