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If you are getting closer to your retirement age, you might be worried about how you are going to be able to pay for all of your bills and leisure activities once you stop working. Some people choose to take out an annuity in addition to maintaining other types of investments. Allianz annuities happen to be quite popular amongst people who are about to retire and this article can help you gain a better understanding of your annuity options with this company.
An annuity is the term that is used to describe a payment that is usually given to an insurance company so that it may be invested and grown into a larger sum. Over a certain period of time, the investor will receive regular payments based on the amount that was invested and the amount of interest that it has accrued. Some people, however, choose to take out a lump sum in lieu of regular payments made over the course of a lifetime.
Allianz offers several different types of annuities. These include the fixed, fixed index, and variable annuities. There is only one fixed annuity available, which is called the Dominator Plus. There are several fixed index and variable annuities available, which go by several different names.
The fixed annuity comes with a minimum rate of interest guarantee. It requires you to pay in a single premium, and the invested amount can be set by you. You can also select the length of the guaranteed interest rate period. However, you should keep in mind that early withdrawals are subject to high rates of taxes and penalties.
There are several fixed index annuity options. These are currently called the Allianz Endurance Plus, Endurance Elite, MasterDex 5 Plus, MasterDex 10 Plus, MasterDex X, and the Pro V1 Annuity. They provide the safety of a fixed annuity, but they can also provide you with added indexed interest, which are dictated by the gains of the market.
The fixed index options come with many different product features, so you should consider each one carefully before you select one. Some require you to invest your money for a certain period of time. During this period, you cannot access the full value of your investment and its interest. Others provide bonuses based upon the amount of cash that was initially invested.
There are currently two variable annuity options, which are known as the Allianz Vision and the Retirement Pro Variable Annuity. These options may be suitable for people who are looking to grow their investments and are willing to take on a certain amount of risk. However, there are plan protection options that can be added to these annuities, such as income protection, which guarantees your payments for life, and the death benefit, which guarantees that your beneficiaries will receive the amount that you invested at the very least if you pass away before annuitization.
Before you decide to invest in Allianz annuities, you should carefully consider all of your investment options and decide which are right for you. Be sure to talk to a professional who can guide you through your options and ensure that you understand what each investment strategy involves and means for your finances.
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Source by Robert C Eldridge Jr
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