GET CONTRACTED
Edward@Croweandassociates.com
Call us: 1.203.796.5403
Crowe & AssociatesCrowe & Associates
  • Home
  • ABOUT
  • Sales Blog
  • Sales Tools
    • Online enrollment
      • Connect4Medicare
      • Sunfire
    • Quote and comparison site
    • Application Processing
    • Free Medicare lead program
    • Agent website
    • Predictive dialer
  • Free Leads
  • Products
    • Medicare Plans
    • Life Insurance Plans
    • Final Expense Insurance
    • Long Term Care Insurance
    • Fixed and Indexed Annuities
    • Healthshares
    • Dental and Vision Plans
    • Other Products
  • Training Webinars
  • Contact Us

Life Annuity Connecticut

    Home annuity Life Annuity Connecticut
    NextPrevious

    Life Annuity Connecticut

    By Ed Crowe | annuity, Latest news | 0 comment | 19 March, 2013 | 0

    The term “Life Annuity” is rather generic and can have multiple meanings but it is almost always used when describing lifetime income from an annuity product.   This post provides detail on the most common uses of the term and provide detail on how a lifetime income annuity works.

    First meaning of the term “Life Annuity” = Annuity with a lifetime income rider: There are a number of companies that offer income riders that can be added to their annuity products.  The income rider is a way to guarantee a lifetime income stream off of you investment for life.  The riders usually provide for a substantial bonus on your money up front (approx. 2% to 10% depending on product)  and will increase every year at a set compound interest rate (Going rate is 4% to 8% per year).  Money in the product is guaranteed to increase at the specified rate for up to a specific number of years.  Many companies cap the growth and 10, 15 or 20 years.

    The point of the income rider is that it allows the investor to calculate exactly how much income they will be able to draw in future years.  Once they decide to turn income on, it will pay out for the rest of their lives or if they have a spouse, it will pay out until both pass away.  Income riders have become hugely popular in the last 10 years due to the perceived unpredictability of the stock market.   Income riders can usually be added to fixed, fixed indexed or Variable annuities.   The purchaser should know that the income rider guarantees the income only.  It does not guarantee growth of the actual lump sum investment.

    The second meaning of the term “Life Annuity” is usually associated with a Deferred Annuity or sometimes called “Longevity Insurance”.  This is also an annuity but it functions in a different manner.  The Deferred Annuity takes a lump sum payment and pays out a guaranteed future in come at a predetermined future date.   The insured will usually not have access to the money prior to the payout starting which makes the Deferred Annuity less flexible than an income rider product.

    The bottom line with lifetime income products is to find the companies that will pay out the most guaranteed future income.  It is very easy to compare these products if you compare them fairly.  For example.  A 55 year old female wants to use $250,000 to create future lifetime income when she turns 65.  She needs to find the company that will pay out the most to her per month in 10 years.  Companies will try to say add “bells and whistles” to products to keep people from making this most simple of comparisons but if income is true need, there is no reason to look at anything else.
    WANT TO LEARN MORE ABOUT FIA’s? REGISTER FOR OUR WEBINAR “CHOOSING THE RIGHT ANNUITY” CLICK HERE

    annuity connecticut ,annuity ct ,annuity income ,income for life ,income for life annuity ,life annuity connecticut ,life annuity ct ,Security Benefit SIA annuity

    Leave a Comment

    Cancel reply

    Your email address will not be published. Required fields are marked *

    NextPrevious

    With licensed sales professionals in both the investment and insurance fields, the experienced and knowledgeable team at Crowe & Associates can tend to your various needs.

    Latest News

    • Common Medicare Enrollment Mistakes

      Common Medicare Enrollment Mistakes

      Common Medicare Enrollment Mistakes (and How to Avoid Them) Enrolling in Medicare

      15 July, 2025

    For agent use only.

    We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800 MEDICARE to get information on all options.

    Not affiliated with the U. S. government or federal Medicare program. This website is designed to provide general information on Insurance products, including Annuities. It is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that [Agency Name], its affiliated companies, and their representatives and employees do not give legal or tax advice. Encourage your clients to consult their tax advisor or attorney.

    Follow Us

    • Follow Us on LinkedIn
    • Find Us on Facebook
    • Watch Us on YouTube

    Subscribe to our newsletter

    Edward K. Crowe & Associates LLC BBB Business Review
    • Home
    • About
    • Agents
    • Quote
    • Retirement
    • Services
    • Blog
    • Contact
    • Privacy Policy
    Copyright 2025 Crowe & Associates | All Rights Reserved |

    Insurance Agency Website by Stratosphere

    • Home
    • ABOUT
    • Sales Blog
    • Sales Tools
      • Online enrollment
        • Connect4Medicare
        • Sunfire
      • Quote and comparison site
      • Application Processing
      • Free Medicare lead program
      • Agent website
      • Predictive dialer
    • Free Leads
    • Products
      • Medicare Plans
      • Life Insurance Plans
      • Final Expense Insurance
      • Long Term Care Insurance
      • Fixed and Indexed Annuities
      • Healthshares
      • Dental and Vision Plans
      • Other Products
    • Training Webinars
    • Contact Us
    Crowe & AssociatesCrowe & Associates

    Online Enrollment- Enroll prospects online without the need for a face to face appointment. Access to all major carriers with the ability to compare plan benefits and prescription drug costs. Link to recorded webinar https://attendee.gotowebinar.com/recording/2899290519088332033

    All agents receive a personalized enrollment website. Prospects can use the site to compare plans, check doctors, run drug comparisons and enroll in plans. Agents are credited for all enrollments. Click Here

    Error: Contact form not found.

    Go to mobile version