| Should I buy an annuity? |  |
 |
Should I Buy an Annuity?
|
An annuity can give you a regular income paid out over a
period of time for retirement purposes. An annuity may also provide an
income for another person, such as a surviving spouse.
An annuity is not a life insurance policy. Some annuities include a death
benefit, others do not.
Annuities are not savings accounts. There may be restrictions or
substantial charges if you take money out, particularly within the first
7-10 years. Annuities should not be bought for short-term purposes.
The money you can expect to receive in annuity benefit payments equals the
money you have paid in plus the interest which your money has earned.
Many annuity sales "pitches" encourage you to move funds from
maturing certificates of deposit into annuities. But these two ways to use
your money are not the same. They have different purposes and time frames.
Be sure you invest your money in a way that best suits your needs.
|
Source: Massachusetts Department of Insurance
|
|
|
For information about Lynch Insurance please contact:
William Lynch |
|
|