Today more than ever, Americans are looking for safety with their savings and retirement assets. Unfortunately, many are unaware of their options outside of a savings account, CD, and/or Money Market. Fixed and Indexed Annuities can be another solution to this problem. But you might not know how to find the best annuity rates as rates vary carrier by carrier and can change month by month.
At Pinnacle Financial Services, we have Fixed and Fixed Indexed Annuity solutions that can provide a better solution for your clients’ safe money. All Annuities offered through PFS are Fixed. None involve any risk of principle – No Securities License is needed.
Our Annuity products provide clients with safety and protection, knowing that they will never lose money, but can still earn nice interest on their money. Remember, we saw interest rates and CD rates drop in 2020 with the Coronavirus and its impact on the Fed. And that didn’t stop Americans from plowing hundreds of millions of dollars into CDs in 2021 so far. Why might you ask? Simply put – clients want safety, and don’t know of any other option.
Some of the best-Fixed Annuity (MYGA) Rates currently hover around 3%. Certainly, much better than the .7% you might earn in a CD today. Furthermore, Annuities are tax-deferred, meaning you only pay the tax owed after money is withdrawn. Your CD will require taxes on the interest to be paid annually (so your .7% in your CD is actually less than that after taxes!)
A Fixed Indexed Annuity could potentially provide your client with even better interest than your MYGA. Yet not guaranteed (the principle is guaranteed and many have a small minimum guaranteed interest rate), clients have been able to historically generate some 5%, 6, or even 7% (tax-deferred) returns with indexed annuities in the last 10 years or so. Now that’s much better than your CD!
While an Annuity can be an important piece of a client’s overall financial plan, it may not be right for everyone. Here at PFS, picking the best Annuity for your client is our goal and our team here can help you ensure that you are making the best possible recommendation.
Annuity Quoting Tool – Annuity Ratewatch
Every agent contracted at PFS will have access to www.annuityratewatch.com for free. This software will allow you to quote nearly every fixed and fixed indexed annuity out there. Quote MYGAs, FIAs, and even Lifetime Income rider comparisons. Click here for a tutorial
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