The Truth About Annuities: Breaking Down Common Myths
Annuities have been around for decades, but despite their longevity, they remain one of the most misunderstood financial products in retirement planning. Misinformation and outdated assumptions keep many people from considering them as part of a smart, secure retirement strategy.
So let’s separate myth from fact and clear up the confusion once and for all.
Myth #1: “Annuities are too expensive.”
While some annuities come with optional riders that have fees, many products—especially fixed annuities and fixed indexed annuities—have no annual fees at all. Unlike mutual funds or advisory accounts, you’re not paying ongoing management costs.
Myth #2: “When I die, the insurance company keeps my money.”
Not true. You can name one or more beneficiaries who will receive the remaining value of your contract. And some annuities even offer enhanced death benefits or guaranteed income for your spouse.
Myth #3: “Annuities don’t grow fast enough.”
Compared to stocks? Sure. But fixed annuities offer guaranteed compound interest, and indexed annuities provide upside potential with zero market risk. In today’s volatile market, that kind of safety and consistency is exactly what many pre-retirees are looking for.
At Diversified Insurance Brokers, we help you sort through the noise and find annuities that offer real benefits without the fluff—or the fearmongering.
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Ready to explore insurance and annuity options that offer guaranteed income, principal protection, disability, life insurance, Social Security and Medicare reviews, and long-term financial growth? Let the expert advisors at Diversified Insurance Brokers help you find the right strategy for your retirement goals.
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