Fixed Annuity Interest Rates Available in Connecticut
There are now some companies that offer 4.6% five Year Fixed Annuity Interest Rates Available in Connecticut.
Interest rates have been declining rapidly over the last few months. Most banks are currently offering 2%-3% rates guaranteed for 1 to 5 years. Insurance companies are still offering 4% to 4.6% fixed over 5 years. These offers do not last long and fewer companies are willing to offer them given the current economic conditions.
If you are now in the market for a fixed interest rate, it is important to understand the terms of the offer. Some companies will offer a first year teaser rate that will go down in year 2 and remain at the lower level for the remainder of the contract period. Others will offer a rate that is adjustable every year. Be careful when you read your contract, If you want a fixed interest rate for a specific number of years. Make sure that the fixed interest rate is in place for the entire contract period.
A limited number of plans will also offer a “Rate Bail Out’ feature to go along with the annual adjustable interest rate. The bail out allows you to take all of your accumulated account value out of the annuity if your interest falls below a specific threshold.
There are multiple methods available which will allow you to obtain substantially higher guaranteed fixed interest rates. Doing so takes multiple steps and strategies. Some steps can depend on a variety of factors such as your age, health and investment amount.
For more information on investment options, please either call Crowe and Associates at(203)796-5403 or email us at Edward@croweandassociates.com.