There are many different types of annuities out there as terms can be negotiated based on the investor’s individual needs. Negotiations could include when the payments begin, how long they last, whether there is a beneficiary, and how payments are calculated. The most common types of annuities include the following:
Fixed Annuity: The payments are determined before the contract is signed. They offer the lowest rate but also carry the least risk.
Variable Annuity: The payments are based on the performance of the investment portfolio. An investor may able to purchase a living benefit income rider to reduce risk.
Indexed Annuity: This is a hybrid of fixed annuities and variable annuities and offers more potential return than a fixed annuity, but carries less risk than a variable annuity.
Although you cannot get your payments early, you may be able to sell your annuity for cash if you are in need of it right away. SellAnyAnnuity.com partners with annuity buyers on the secondary market that will offer the best value for your annuity. You have the option to sell some or all of your annuity payments depending on your individual needs. Contact us today to learn more about the process of selling your annuity and to receive a free quote.Learn More