How to Choose the Right Guardian Annuity

 

If you're looking to secure your future, you should consider purchasing one of the many types of Guardian annuities. There are many benefits to this type of policy. These include guaranteed lifetime income, flexible access, growth potential, and control. Read on to learn more. The following are some of the main characteristics of Guardian annuities. Read on to find out how to choose the right one for you. You'll be glad you did.

Guaranteed income for life

A guardian annuity is a type of investment that provides guaranteed income for life for the owner. The company that issues the product, The Guardian Insurance & Annuity Company, Inc, consistently receives exemplary ratings from all major rating agencies, including A.M. Best, Fitch Ratings, Moody's Investors Service, and Standard & Poor's. As with all investments, there are certain risks, including the possibility that the investment may be worth more or less than it cost at the time of purchase.

The benefits of the Guardian Guaranteed Income Annuity are many. It is a single premium fixed immediate annuity that provides a guaranteed stream of income for life or a specified period of time. Another feature is the one-time payment acceleration feature, which allows the owner to receive a discounted lump-sum for the next five payments. The benefits of this annuity are many, and it is easy to see why so many people are drawn to them.

The payments from an annuity lifetime income streams are calculated according to the recipient's life expectancy. The longer the person lives, the higher the payout, while the younger the person is, the smaller the payments. Lifetime income streams may be monthly, quarterly, annual, or lump-sum payments. Some types of payments start immediately, while others may be postponed for years or decades.

An annuity pays a lifetime income that will not end. The payments are not affected by the performance of the market and can be cashed in whenever it makes sense. Another advantage of this annuity is the tax advantages it offers. You can purchase a guaranteed income stream 13 months before your initial income payments begin. At that time, the lifetime income will be combined into one payment. This payment can be tax-free!

Aside from the tax benefits, guardian annuities can also help you take advantage of the potential gains of an index. The S&P500(r) index and two proprietary indices are available. Clients can also modify their index selections annually. The company has over $573 million in assets. If you are interested in a guardian annuity, consult your financial advisor.

Flexible access

The main website of the Guardian Annuity Manager has three major sections: Manage Portfolio, Investment Resources, and Transfer Balances & Allocation Changes. Important documents are also provided here, such as prospectuses and tax forms. You can quickly access all of these documents through the site. Regardless of your financial situation, you can easily find the information you need about your annuity. You can also get a list of the best providers by following the links provided at the top of the page.

The Flexible Access Guardian Annuity lets you transfer or renew your existing fixed-rate income annuity into any guaranteed interest period. You can also withdraw funds during the guaranteed period without incurring surrender charges. It offers added liquidity and guarantees a steady stream of income throughout your retirement years. While it may seem attractive to withdraw funds every year, this type of annuity may not be the best choice for everyone. Those seeking liquidity may want to consider investing in variable-rate annuities.

The Flexible Access Guardian Annuity has a guaranteed income rider. It offers clients the option to withdraw an income base that increases 3% or 6% a year for life. The rider allows clients to change beneficiaries and address varying income needs and life changes. The income base will grow 3% to 6% annually, depending on the contract value. In addition to these features, this annuity is also offered through Park Avenue Securities and Jackson National Life Insurance Company.

The Guardian SecureFuture Income AnnuitySM lets you take advantage of the flexibility to add additional premiums up to 13 months before your start date. Each additional premium will have its own annuity payment calculation, and will be combined with the rest of your payments. As an added bonus, the SecureFuture Income AnnuitySM provides additional security by covering up to 25% of the aggregate value of your IRA accounts.

With the flexible access features of this annuity, you can choose to take advantage of different benefits at any time. You can select to take advantage of the Guaranteed Income Annuity III, which guarantees a fixed income for the life of the policy. The payments start out much smaller than what you'd receive from a standard annuity without this benefit. However, these payments are guaranteed and grow every year up to 5%.

Growth potential

If you want to take advantage of the growth potential of your annuity investment, you can invest in several different types. The Guardian Investor ProFreedom Variable Annuity B Share, for example, requires a minimum investment of $10,000. You can invest in any of more than 50 variable funds in this annuity. The fund portfolio uses passive management and uses both bond and equity investment strategies. If you don't want to use a diversified portfolio, you can opt for a life annuity.

Besides offering a variety of investment options, you can also choose a fixed annuity. The fixed annuity offers a guaranteed interest rate and is flexible. The variable annuity offers a wide range of payouts, ranging from a guaranteed premium to a maximum of five percent of the contract value. There is a minimum premium of $5,000 and the maximum age of issue is 85.

The variable annuity L Series(r) contract unit values fluctuate to reflect the performance of the investment options. Depending on the investment options, the contract owner units may be worth more than the initial investment. Investment in variable annuities involves risk and may result in the loss of principal. A prospectus is required for these investments before the investor can invest in them. It will be beneficial to review the pros and cons of these investments before investing.

If you are interested in investing in a fixed annuity, you should consider the Guardian Income Magnifier Rider. It will provide income certainty and the ability to add additional income if the market's value declines. The product is offered through Park Avenue Securities and Jackson National Life Insurance Company. The company has also partnered with fee-based advisors to distribute its annuities through the Producers Choice Network.

Control

A single premium contract can be controlled and modified at any time. The Guardian SecureFuture Income Annuity is one example. It is a life income annuity that provides lifetime income. The contract has no annual fees and a complex withdrawal schedule. Withdrawal fees are 10% of the contract value and based on the initial purchase period. Withdrawal fees are higher if funds are withdrawn prior to age 59.5.

The proposed changes will improve the administrative efficiency and cost effectiveness of Contracts, while maintaining a wide range of investment options. In addition, the changes will simplify the contract disclosure documents for Contract owners. This will simplify the process of understanding the benefits of each investment option, while maintaining the current menu of options. Ultimately, the proposed changes will benefit customers. If the changes are adopted, it will not impact the quality of your Contract.

If you are looking for a guaranteed income source, you may want to consider the Guardian Investor ProFreedom Variable Annuity B Share. It requires a minimum investment of $10,000, and you can choose any fund within the portfolio. These funds include more than 50 variable funds and are based on passive management. The variable fund options carry risk and may not yield the same returns as the original investment. It is important to consult the prospectus before investing.

Having control over the income of your annuity is a great way to avoid guardianship complications and negative tax consequences. If a minor has an annuity that is not controlled, he or she will have to pay the higher trust tax rates. These rates are less favorable for most filers. Not all annuity providers will accommodate this designation. However, if you do, you may want to consider changing the beneficiary designation to a trust.