BIRDSEYE FINANCIAL SERVICES (360) 722-7889
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Educate Yourself

Protection Benefits
Protection Benefits
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A third important advantage of a fixed index annuity is the range of guarantees and optional protection benefits available. These benefits allow you to transfer risk to the insurance company issuing the fixed index annuity. These guarantees help protect your assets, your retirement income, and your beneficiaries. In exchange for the risk transfer, the benefits may carry an additional cost that will vary by product and company.

Accumulation
Annuities are subject to surrender charge periods which can vary, but are generally between 5 and 10 years in duration. As long as you abide by the terms of your contract, you will not lose any of the money you place in your annuity due to surrender charges. And any interest credited to the contract is locked in and protected as well.

Guaranteed Income
A fixed index annuity puts you in control of your future income, based on the annuity you choose and how much money you put into it. After your contract has had an opportunity to earn interest over its deferral period, you can begin distribution. You can then receive your contract’s values in a stream of income that will last your lifetime (or longer). The amount of your payments is based on the value of the contract on the date you begin distribution and the payout schedule you choose.

You generally have two choices for receiving income payments: annuitization payments or income withdrawals. Each of these payment types is taxed differently. For annuities that are not held in a qualified plan, such as an IRA or a 401(k), part of each annuitization payment is a tax-free return of what you paid for the annuity and part is taxable as interest you earned on the annuity.

On the other hand, income withdrawals under the same annuity are fully taxable until the interest you earned has been taxed. Then you withdraw what you paid for the annuity tax-free. It’s always a good idea to consult with your tax advisor before choosing between annuitization payments and income withdrawals.


Protection With Income That Can Increase
As we noted, a FIA allows you to convert your annuity’s value into a series of fixed-amount payments. Depending on the product you choose, many FIAs go beyond this. They offer benefits or optional income riders with payments that can increase to help you keep pace with rising costs throughout your retirement.

Your income payments will be scheduled as withdrawals you can begin anytime after you reach a certain age (often age 60). And with some FIAs, your income payments will be larger if you postpone taking them for a few years.
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These income riders or benefits provide a valuable benefit, but they usually come at a cost. Talk to us about the income options offered by the FIA you are considering, and be sure you understand any costs and restrictions.

Please note that withdrawals may be subject to regular income tax and, if taken prior to age 59½, a 10% federal additional tax may apply.


Death Benefit
If you pass away before you begin to receive scheduled annuity payouts of the contract’s value, your beneficiary will receive a death benefit. And in some cases, even if you pass away after you’ve begun to receive income from the annuity, it’s still possible your beneficiary will receive a death benefit. Your beneficiary may choose to receive your contract’s values in a single payment or in a series of payments over time.

The death benefit may be a reason some individuals purchase annuities even though they have no immediate plans to receive their contract values. They simply want to know the money is available (may be subject to a surrender charge) should they need it – and that it can be passed on to their beneficiaries if they don’t use it.


Financial Strength
Because the guarantees in an annuity are important, it’s important to consider who backs those guarantees. The guarantees are backed solely by the insurance company that issues the annuity. That’s why you should know about the financial strength and stability of the company. Ask about their:
  • Ratings – independent agencies’ opinions of a company’s strength and ability to meet its ongoing insurance policy and contract obligations.
  • Risk management capabilities – a company’s track record of successfully hedging against potentially extreme market events.
  • Management philosophy – a company’s commitment to stability and reliable, long-term performance.
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Step One
Time to Rethink Retirement
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Step Two
Understand the Basics
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Step Three
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Who's who in an Annuity
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Step Four
Understand the Benefits
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Step Five
Tax Advantages
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Step Six
Index Interest Potential
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Step Seven
Protection Benefits
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Birdseye Financial Services
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136 Hillside Drive E
Burleson, TX 76028

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Client Resources
Main # 360-722-7889
Texas # 817-717-1487
Fax #425-412-6865

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[email protected]

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CLICK TO READ OUR FULL DISCLOSURE
The information contained herein: (1) is proprietary to Birdseye Financial Group and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Any information herein about providers, speakers, and services does not constitute a recommendation or endorsement. This material is not to be distributed without the express written consent of Birdseye Financial. Regarding your financial situation, you should consult with a financial professional before acting on specific actions or suggestions given. For legal or tax advice, you should contact your qualified attorney or CPA. Insurance and tax planning services are offered through Birdseye Financial. Investing involves risk, including the potential loss of principal. No market investment strategy can guarantee a profit or protect against loss during declining values. ​Fiduciary Investment Advisory Services are offered through Simplicity Asset Management, an SEC-Registered Investment Advisor. Registration does not denote any level of skill or qualification.

MEDICARE MANDATORY DISCLAIMER
“We may not offer every plan available in your area. ​Please get in touch with Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all your options.” All calls regarding Medicare may be recorded by phone or online and a SCOPE of appointment required by Medicare will be obtained 48 hours before any sales meeting to discuss plan details. (NOTE - The organizations and plans can vary by state and county, we can validate these numbers upon request.)

State Licenses
LICENSES: AZ #7101306, CA #4140429, FL #W825259, GA #3621424, ID #863617, KS #7101306, MA #2176921, NV#3879853, NC #7101306, OK #3001663224, OR #7101306, TX #2695866, WA #190780. Note that in California, our DBA is Birdseye Financial and Insurance Services. The current license status may increase or decrease without being updated on this site. ​If you have any questions, please don't hesitate to ask.

PRIVACY POLICY       OPT-IN PROCESS
  • Home
  • About
    • Who We Are >
      • Explore More
    • Corbin Lindsey, Advisor
    • Our Reviews
    • Get Started
    • Risk & Portfolio Assessment
    • Request Free Consultation
  • Strategies
    • Key Components
    • Sequence of Returns
    • Volatility Buffer >
      • Volatility Buffer Webinar
    • Tax Strategies >
      • Tax Free Income
      • RMD Calculator
      • IRA RMD RULES
      • ROTH IRA
      • ROTH Conversion
      • Tax Declassified Webinar
      • Qualified Charitable Donation
      • Business Tax Credit
    • Inflation Impact
    • Educational Videos >
      • Documentaries
      • Educational Webinars >
        • Taxes Declassified
        • Top 10 IRA Mistakes
        • Taxes in Retirement
        • 3 Economic Strategies
        • Five Key Areas of Retirement
    • Recommendations >
      • ROTH Conversions
      • Volatility Buffer
      • Tax-Free Income
      • Wealth Transfer
    • Premium Finance
  • Planning
    • Retirement Analysis >
      • RA Sample
    • Social Security >
      • Social Security Webinar
    • Pension Maximization
    • Risk Analysis and Investments
    • LifePro Asset Management >
      • Questionnaire
    • Estate Planning
    • Federal Benefits >
      • Federal Benefit Kit
    • WA Retirement Systems
    • Boeing Retirement >
      • Boeing Webinar
      • Boeing Download
      • Boeing Calendar
      • Boeing Retirement
    • Business Planning >
      • Tax Free Multiplier
      • Business Tax Credit >
        • Resources
      • Employee Retention Tax Credit
      • Research & Development Tax Credit
  • Insurance
    • Annuities >
      • Annuity Resources
      • Market Index Links
      • Annuity Report
      • Annuity Reviews
    • Medicare >
      • Medicare Questionnaire
      • Medicare Clients
      • Medicare Plan Compare
      • Medical Networks
      • Medicaid Info
      • PEBB Benefits >
        • 2024 PEBB Retiree Guide
      • Medicare A&B
      • Medicare Rules
      • Medicare Meetings
      • Medicare Education
    • Long-Term Care
    • Life Insurance >
      • Multi-Generational
      • Premium Finance
      • Final Expense
    • Health Insurance
    • Dental Insurance
    • Vision Insurance
  • Tools
    • Financial News Blog
    • Market Simulations
    • Required Minimum Dist (RMD Calculator)
    • Interest Types
    • Calculators
    • Professional Referrals >
      • Dead Doctors Don't Lie
    • Bankrate Interest Rates
    • Rate of Return Calculations
    • Zillow Home Value
    • Credit Info
  • Contact
    • Free Consultation
    • Schedule Appointment
    • Online Meeting
    • Secure Upload
    • Retirement Analysis (initial)
    • Retirement Software Client Portal
    • New Application
    • Application Process
    • Beneficiary Form
    • Client Resources
    • Phone App
    • Rate our Service
    • Refer a Friend