Annuities at a Glance

There are three main types of annuities; fixed, variable, and immediate.

Fixed Annuities - Are contracts issued by insurance companies. The rates they quote are the rate you will receive. All expenses are deducted prior to crediting your interest. These annuities enjoy the protection of the Washington State Guarantee Association. Details of which can be found at the following link: www.walifega.org

CD Style Annuities - Certificates of Deposit, pay a guaranteed interest rate. Some plans offer multi-year rates, and others pay you a competitive rate based upon current interest rates each year. Either way, your principal and interest are guaranteed.

Equity Indexed Fixed Annuities - Allow you to participate in the potential upside of the stock market without any of the downside risk. These plans are explained best in a one-on-one approach.

Immediate Annuities - Also called income annuities, deposit your funds with an insurance company and guarantee an income stream for a fixed number of years, or for your lifetime. These are frequently used as income replacement plans when there is a loss of income from the death of a partner and life insurance proceeds.

Variable Annuities - Contracts issued by insurance companies where you can choose to direct your investments to hopefully achieve a good return. These plans have relatively high fees, around 3% or more. The value of these accounts can increase or decrease based upon your investment choice.

Due to the risky, volatile nature of variable annuities, we at Castell Insurance do not represent any product where our valued client’s funds are at risk.

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