Annuities in Ohio

When you are considering the many different types of investments and retirement savings plans out there, it is important that you understand how they differ from each other. This can help you to make informed decisions. At Bonvenuto Financial Group LLC, we are here to help the residents of Uniontown, OH and the surrounding areas better understand all of their investment options. Keep reading to learn more about annuities.

What Is An Annuity?

An annuity is an agreement that is made between an individual and an insurance company that will require the insurance company to make regular payments to you for a specified time in the future. This contract is purchased by you, the customer. Annuities can either be purchased through monthly payments or through a lump sum of money.

Why Do People Purchase Annuities?

Annuities are often part of a retirement plan. This type of investment ensures that you will receive a specific amount of money over the course of a specific amount of time. This can help people make a retirement plan and customize their standard of living around that plan.

Are There Different Kinds of Annuities?

Yes, there are many different kinds of annuities. To make the best financial choices, you will need to sit down with an insurance representative or a financial planner to help you better understand each kind and determine which one will best suit your needs. The three main types of annuities are fixed, variable, and indexed.

Are Annuities Risky?

Generally speaking, this is a lower-risk type of investment. However, there is always risk involved however if you are splitting any of your payments among investment options.

Reach Out To Us

If you would like to learn more about annuities, please contact us today at Bonvenuto Financial Group LLC serving Uniontown, OH and the surrounding areas.