Financial Services / Annuities
Annuities are contracts from which the owner (or a couple) receives regular payments over a period of time equivalent to the principal value plus interest within the contract. Annuity payouts (and taxes) may be deferred until a later date or paid out as early as one year after the annuity is established (immediate annuity). The number and frequency of payments can differ according to the needs of the client.
Haas, Haas + Associates can assist with the various primary types of annuities:
- Fixed Immediate Annuities provide a regular payout based on a guaranteed minimum interest rate. They’re generally best for investors with low risk tolerance who seek wealth preservation and/or an alternate to other fixed income vehicles.
- A Medicaid Compliant Annuity is a planning tool offered by some insurance companies. The Medicaid Compliant Annuity is designed to convert a spend-down amount into an income stream. With the spend-down amount eliminated, the nursing home resident/Medicaid applicant becomes eligible for Medicaid benefits.
- Fixed Indexed Annuities combine a guaranteed minimum interest rate and the potential to grow, with interest indexed to market indices. They are usually best for clients with low risk tolerance, but who seek greater return potential than other fixed products.
We recommend that you consult an attorney for legal advice prior to choosing an annuity investment.