Annuities
Who's Who in an FIA?
Who's Who in a Fixed Indexed Annuity?
Let’s talk about how a fixed indexed annuity (or FIA) works. An FIA is a contract between you and an insurance company. The company agrees to make periodic payments to you, based on the performance of an underlying index.
An indexed annuity contract typically involves four parties:
The Insurance Company
The insurance company issues the annuity and backs its guarantees.
The Contract Owner
The Contract Owner purchases the annuity.
The Annuitant
The Annuitant is the person whose life expectancy determines when and how much they will receive in benefits. The contract owner and annuitant are usually the same person, but not always.
Beneficiaries
Beneficiaries are designated by the annuitant, and they will receive a death benefit when the annuitant dies.
Selecting a Retirement Professional
We recommend meeting with an agent to learn more about fixed indexed annuities. Retirement strategies certainly aren’t one-size-fits-all. Here at Fraga Financial, our goal is to protect our clients’ retirement income. Furthermore, we only work with clients that we believe can benefit from our services. However, not all financial agents are the same. Our team understands how vital it is to protect your savings.
Reach Out to Us
We can explain the details of fixed indexed annuities to you. Schedule a meeting with us today.
