Florida Firefighters, - If you are shopping for Life Insurance or an annuity please call 561-741-8849.  As a broker I will shop for the best life annuity rates, best life and annuity companies and the best life and annuity choices for you and your family.

Why would I want an Annuity?
Think of an annuity as a CD (certificate of deposit) only instead of it being issued by a bank it is issued by an insurance company.  The advantage an annuity has over CD's is the fact that they grow tax free until you start withdrawing money. 

What about safety?
Annuities issued by reputable insurnace companies are very safe.  Much the same as CD's issued by reputable banks.

What is a SPIA?
A SPIA is a single premium immediate annuity.  This is great if you have a sum of money to invest and want to make certain you do not out live your money.
For example, lets assume your mother lives alone and has $250,000 savings.  She is 65 years old and you want to make certain she is taken care of however you are afraid that someone may try to cheat her out of her money.  The solution, you buy an immediate annuity that would pay your monther a set amount for the rest of her life.  Even if she lives to be 95 years old, she would still contiue to get paid every month.  You can't outlive the money and it is very safe. 

My friend bought an annuity and was given a 10% bonus.  What is that?
Some equity indexed annuities offer the customers a 5% or 10% bonus when they purchase the annuity.   This varies by company so please call me to see which annuity is best for you.

Which company is best for me?
It depends on a lot of factors.  The rates vary so it is always best to call me, tell me more about your investment goals and we will research the best company to go with.
Becasue I am a broker I have the ability to search dozens of companies to find the best deal for my cleints.  Captive agents are usually stuck with just one company.  Let me shop around for the best rates for you.

Annuities
The material presented on this web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice, you may wish to consult a competent attorney, tax advisor, or accountant. Note: Any reference to the word guarantee is based on the claims paying ability of the underlying insurance company.

An annuity is a contract issued by an insurance company. It is a unique financial product that provides tax deferral of interest and capital gains and the option (if funds are annuitized) of a guaranteed monthly income for life. Although annuities can serve various needs, the primary purpose of an annuity is that of a retirement vehicle for the annuitant, the person who will usually receive the annuity benefits. The annuity is an attractive retirement vehicle because the money accumulating in an annuity, grows on a tax deferred basis. There are two parts to an annuity: the accumulation phase and the distribution phase.

After accumulating money in an annuity it is not mandatory that the annuitant exercise the annuitization option and relinquish control of his or her cash value and enter into the annuity distribution phase, the annuitant can simply cash out of his or her annuity.The Accumulation Phase:

Features:
During the accumulation phase, the fund grows tax deferred, it does not grow tax free. If the annuity was not purchased as part of a qualified retirement program such as an IRA, 401(k), TSA, or 457 plan, income taxes are paid on the earnings when money is ultimately paid out. If the annuity is part of a qualified plan the entire fund is subject to income taxes as it is withdrawn.

Surrender charges for early withdrawals. Most offer partial withdrawals free of surrender charges.

If you withdraw money from your annuity before age 59 ½ it is called a “premature distribution” and is subject to an additional 10% IRS penalty.

If a premature death should occur, the accumulated funds within the annuity are transferred to the named beneficiary, avoiding probate costs.

Annuities can vary by payment mode and are available as “single premium” (purchased with one-time payment) or “flexible premium” (purchased with recurring periodic payments). They also vary by timing of the annuity income and may be available as a “deferred annuity” (which means that annuity income payments are deferred until later) or as an “immediate annuity” (which means that annuity income starts immediately).

For fixed and equity indexed annuities there is safety of principal and earnings.

Variable products are subject to mortality and expense charges and administrative fees not typically found with other investments.

Types:
1) Fixed annuities
2) Equity Indexed annuities

Fixed Annuities:
In a fixed annuity, the insurance carrier:

Declares a current rate of interest for a specified time period. Once the time expires the company will set a new rate which may be higher or lower than the original rate.

Guarantees a minimum interest rate of return which is specified in the contract, and at no time may the current or renewal interest rate fall below it.

Guarantees the principal.

* Equity Indexed Annuities:
An Equity-Indexed Annuity (EIA) has interest rates that are linked to growth in the equity market as measured by an index such as the S&P 500. The EIA owner enjoys the upside potential of equities but is not exposed to downside risk. Subject to fixed minimum guarantees, the value of an EIA can only increase due to market growth – it will never decline due to market movement. There are many variations in product design. No two of the EIAs are exactly alike, and some are very different from each other. However, all the various types fall into three general categories: annual high-water mark with look-back. The following is a simple definition of each. Please call us if you would like to know more.

Annual Reset – Also known as the annual ratchet design, the annual reset design resets the starting index point annually. It also credits index increases (interest) annually and compounds annually.

Point-to-Point – The point-to-point design measures the change in the index from the start of the term to the end of the term.

Annual High-Water Mark with Look-Back – The annual high-water mark with look-back can be viewed as a variation on the point-to-point design, except that it measures the index from the start of the term to the highest anniversary value over the term.

* Some annuities allow the insurance company to change participation rates, cap rates or spread/asset/margin fees either annual or at the start of the next contract term. If an insurance company subsequently lowers the participation rate or cap rate or increases the fees, this could adversely affect an investor's return. Therefore, a prospective investor must carefully review his or her contract in order to examine these issues.

Withdrawal:
Withdrawals may be made at any time. However, the withdrawal may be subject surrender charges and if done before age 59 ½ there will be a 10% IRS penalty. Some contracts allow an annual 10% withdrawal free of surrender charges.

The owner may pre-authorize a systematic periodic withdrawal plan. The owner of the contract instructs the company to withdraw a percentage or a level dollar amount from the contract on a monthly, quarterly, semiannual, or annual basis.The Distribution Phase  

As part of the distribution phase, the owner has two options, he or she can withdraw money (either in a lump sum or elect a systematic withdrawal plan) or annuitize (purchase an annuity pay out plan).

Annuitization
When the owner annuitizes the funds he or she purchases an annuity pay out plan. In a Fixed and in an Equity Indexed Annuity the owner purchases a monthly income that will be paid to him or her until death. It is a guaranteed income that will not change. In a variable annuity, the owner has an option to do the same or transfer all or part of the contract to one or more of the sub-accounts that are available, and annuitize those funds. The funds that are annuitized in the separate accounts produce an income that will change from month to month based on the performance of the sub-account that the funds are placed in.

Annuity Pay Out Plans:
Life Only - Periodic monthly payments to an annuitant for the duration of his or her lifetime and then ceases. It is for a lifetime, the annuitant cannot outlive the payments. The payments are determined at the time of purchase and are based on age and sex.

Life with 10 years certain – Payments will be made for at least ten years, regardless if the annuitant lives for the entire ten years. If the annuitant dies during the ten-year period the remainder of the ten-year payments will be made to a beneficiary. If the annuitant lives longer than ten years he or she will continue to receive payments for his or her lifetime. The guaranteed monthly payments will be less than “life only.”

Life with 20 years certain – Payments will be made for at least twenty years, regardless if the annuitant lives for the entire twenty years. If the annuitant dies during the twenty-year period the remainder of the twenty-year payments will be made to a beneficiary. If the annuitant lives longer than twenty years he or she will continue to receive payments for his or her lifetime. The guaranteed monthly payments will be less than “life only”, and “Life with 10 years certain.”

Life Insurance, Disability Insurance and Annuities for Florida Law Enforcement Officers in all of the following following cities:

Miami-Dade County Florida Life Insurance & Annuities – Aventura, Bal Harbour, Bay Harbor Islands, Biscayne Park, Coral Gables, Cutler Bay, Doral, El Portal, Florida City, Golden Beach, Hialeah, Hialeah Gardens, Homestead, Indian Creek, Islandia, Key Biscayne, Medley, Miami, Miami Beach, Miami Gardens, Miami Lakes, Miami Shores, Miami Springs, North Bay Village, North Miami, North Miami Beach, Opa-locka, Palmetto Bay, Pinecrest, South Miami, Surfside, Sunny Isles Beach, Sweetwater, Virginia Gardens, West Miami

Broward County Florida Life Insurance & Annuities - Parkland, Coconut Creek, Deerfield Beach, Coral Springs, Margate, Pompano Beach, Lighthouse Point, Hillsboro Beach, Tamarac, North Lauderdale, Lauderdale-by-the-Sea,  Sea Ranch Lakes, Oakland Park, Wilton Manors,  Lazy Lake,  Fort Lauderdale, Lauderdale Lakes, Lauderhill, Sunrise, Plantation, Weston, Davie, Dania Beach, Hollywood, Southwest Ranches, Cooper City, Pembroke Pines, Miramar, West Park, Pembroke Park, Hallandale Beach.

Palm Beach County Florida Life Insurance & Annuities- Pahokee, Belle Glade, South Bay, Tequesta, Jupiter Inlet Colony, Jupiter, Juno Beach, Palm Beach Gardens, North Palm Beach, Lake Park, Riviera Beach, Palm Beach Shores, Mangonia Park, Palm Beach, West Palm Beach, Haverhill, Glen Ridge, Cloud Lake, Palm Springs, Lake Clarke Shores, Royal Palm Beach, Wellington, Greenacres, Atlantis, Lake Worth, South Palm Beach, Lantana, Manalapan, Hypoluxo, Boynton Beach, Ocean Ridge,  Golf, Briny Breezes, Gulf Stream, Delray Beach, Highland Beach, Boca Raton, Loxahatchee Groves.

Martin County Florida Life Insurance & Annuities - Jupiter Island, Ocean Breeze Park, Sewall's Point, Stuart, Hobe Sound, Hutchinson Island part, Indiantown, Jensen Beach, North River Shores, Palm City, Port Salerno, Rio, Port Mayaca.

Okeechobee County Florida Life Insurance & Annuities - Cypress Quarters, Taylor Creek, Ancient Oaks, Catterson, Sunset Strip, Barber Quarters, Basinger, Basswood Estates, Dixie Ranch Acres, Fort Drum, Hilolo, Mildred, Sherman, Treasure Island, Upthegrove Beach.

St. Lucie County Florida Life Insurance & Annuities - Fort Pierce, Port St. Lucie, St. Lucie, Hutchinson Island 

Indian River County Florida Life Insurance & Annuities - Fellsmere, Indian River Shores, Orchid, Sebastian, Vero Beach

Brevard County Florida Life Insurance & Annuities -  Cape Canaveral, Cocoa, Cocoa Beach, Grant-Valkaria, Indialantic, Indian Harbour Beach, Malabar, Melbourne, Melbourne Beach,  Melbourne Village, Palm Bay,  Palm Shores,  Rockledge, Satellite Beach, Titusville, West Melbourne

Osceola County Florida Life Insurance & Annuities – Kissimmee, St. Cloud, Yeehaw Junction, Celebration

Orange County Florida Life Insurance & Annuities - Apopka, Plymouth, Belle Isle, Eatonville, Edgewood, Maitland, Oakland, Ocoee, Orlando, Windermere, Winter Garden, Winter Park, Bay Lake (part of Walt Disney World), Lake Buena Vista.

Seminiole County Florida Life Insurance & Annuities - Altamonte Springs, Casselberry, Lake Mary, Longwood, Oviedo, Sanford, Winter Springs

Volusia County Florida Life Insurance & Annuities - Daytona Beach, Daytona Beach Shores, DeBary, DeLand, Deltona, Edgewater, Holly Hill, Lake Helen, New Smyrna Beach, Oak Hill, Orange City, Ormond Beach, Pierson, Ponce Inlet, Port Orange, South Daytona.

Flagler County Florida Life Insurance & Annuities - Bunnell, Flagler Beach, Palm Coast, Marineland, Beverly Beach

Alachua County Florida Life Insurance & Annuities - Alachua, Archer, Gainesville, Hawthorne, High Springs, LaCrosse, Micanopy, Newberry, Waldo

Marion County Florida Life Insurance & Annuities - Ocala

Lake County Florida Life Insurance & Annuities – Astatula, Clermont, Eustis, Fruitland Park, Groveland, Howey-in-the-Hills, Lady Lake, Leesburg, Mascotte, Minneola, Montverde, Mount Dora, Tavares, Umatilla

Polk County Florida Life Insurance & Annuities - Auburndale, Bartow, Davenport, Dundee, Eagle Lake, Fort Meade, Frostproof, Haines City,  Highland Park, Hillcrest Heights, Lake Alfred, Lake Hamilton, Lakeland, Lake Wales, Mulberry, Polk City, Winter Haven

Lee County Florida Life Insurance & Annuities - Bonita Springs, Cape Coral, Fort Myers, Fort Myers Beach, Sanibel

Hendry County Florida Life Insurance & Annuities - Clewiston, Harlem, LaBelle, Port La Belle, Felda.

Collier County Florida Life Insurance & Annuities - Everglades City, Marco Island, Naples

Charlotte County Florida Life Insurance & Annuities – Boca Grande, Cape Haze, Charlotte Harbor, Charlotte Park, Cleveland, Deep Creek, Englewood, Grove City, Harbour Heights, Manasota Key, Murdock, Placida, Port Charlotte, Punta Gorda, Rotonda, Solana

Sarasota County Florida Life Insurance & Annuities – Sarasota, North Port, Venice, Longboat Key

Manatee County Florida Life Insurance & Annuities - Anna Maria, Bradenton, Bradenton Beach, Holmes Beach, Longboat Key, Palmetto

Hillsborough County Florida Life Insurance & Annuities - Plant City, Tampa, Temple Terrace

Pinellas County Florida Life Insurance & Annuities - Belleair, Belleair Beach, Belleair Bluffs, Belleair Shore, Clearwater, Dunedin, Gulfport, Indian Rocks Beach, Indian Shores,  Kenneth City , Largo, Madeira Beach,  North Redington Beach , Oldsmar, Pinellas Park ,  Redington Beach ,  Redington Shores, Safety Harbor , Seminole, South Pasadena, St. Pete Beach , St. Petersburg, Tarpon Springs, Treasure Island

Pasco County Florida Life Insurance & Annuities - City of Dade City, City of New Port Richey City of Port Richey, City of San Antonio, Town of St. Leo, City of Zephyrhills

Monroe County Florida Life Insurance & Annuities - Key West, Marathon, Key Colony Beach, Layton, Islamorada, Stock Island, Big Coppitt Key, Cudjoe Key, Big Pine Key, Duck Key, Tavernier, Key Largo, North Key Largo, Flamingo, Bay Point, Sugarloaf Shores


This web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice. You may wish to consult a competent attorney, tax advisor, or accountant.