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An annuity is a contractual agreement for one person or organization/insurance company to pay another a stream of payments. There are several categories of annuities available including fixed or variable which refer to the underlying investment mechanism. There are deferred (accumulating) or immediate (pay-out) annuities, depending on its purpose. Pay-out commitments include: fixed period, fixed amount or lifetime. Other options you may come across are qualified or nonqualified annuities, this refers to the tax status. Finally, there are two basic premium payment arrangements: single premium or flexible premium annuities.

The main purpose of investing in an immediate annuity is to help protect you from outliving your assets. This is why annuities are so popular and recommended by many financial planners to help people meet their retirement goals. Annuities also help diversify investment portfolios.

Annuities can be very attractive because typically they have the following features: tax-deferred earnings, protection from creditors, a large choice of investment options, tax-free transfers, lifetime income and if a "guaranteed payment period" is stipulated then benefits can go to your heirs.

Asset MarketPlace can help you select an annuity from this wide array of options that will meet your specific needs and goals.

Contact us today for more information.