| Annuities are generally a fairly safe place to put some of your money as long as you understand the annuity because there are different kinds. Some have more risk than others. The idea behind the annuity is that you put into this account a lump sum of money and the account will pay you a specific amount of money for a specific amount of time. This makes it popular with retirees because they know they will be getting that (income) amount for the rest of their lives. Some annuities have a long term care rider. This pays a fixed benefit depending on your annuity and age when you start. There is usually a 6 year waiting period before you can use the LTC benefits and you can't have received care in the last 12 months. This is great for those who cannot health-qualify for standard long term care insurance because there is no underwriting. The other plus is that the LTC benefits are not drawn from the annuity. Contact us for more information about annuities. |