What is the right product for Navigating your Retirement?
Using annuities to reach your retirement horizon
At Oceanview Life and Annuity, our team of product experts issue competitive yielding fixed and fixed indexed annuities. Oceanview Life has developed a suite of high-quality, retirement savings products to provide financial protection and growth for retirees and pre-retirees moving toward their retirement.
Smooth Sailing with a MYGA
For some retirees, certainty and predictability can be found in such retirement vehicles as a multi-year guaranteed annuity (MYGA), like Oceanview Life’s Harbourview Multi-Year Guaranteed Annuity. The contract between you and Oceanview Life would constitute you making a lump sum payment, and in return, Oceanview Life guarantees to pay you a fixed interest rate for the duration of the contract. By allocating some or all of your retirement savings money to a MYGA, you can enjoy smooth sailing with principal protection and the opportunity for guaranteed returns.
Navigating the waters with a FIA
Like a MYGA, a FIA can provide guaranteed rates of return. Where a FIA differs, however, is that you can choose to have some or all of your retirement savings money allocated in a strategy that has exposure to equity markets. By exposing money to indices like the S&P 500, Russell 2000, or Nasdaq-100, you can enjoy upside potential while never losing your principal. In addition, taking on the inevitable waves of the market can afford you the opportunity to potentially grow your account value by utilizing participation rates or cap rates. Work with a financial professional to learn how a participation or cap rate strategy can benefit your financial plan.
Tax Deferral with a MYGA and a FIA
Another benefit of owning a MYGA and a FIA is tax deferral. Since annuities are considered tax-deferred investments, owners of an annuity do not pay taxes on the gains in the annuity until they withdraw the funds. This can be a valuable benefit for investors who are looking to grow their retirement income, as it allows money to grow tax-free until it needs to be accessed. Annuities can also be an effective way to plan for your legacy. For example, annuities offer a death benefit, so the owners of an annuity can ensure that their heirs will receive a guaranteed payout if they pass away before the annuity contract ends. This can provide peace of mind for those who want to leave a financial legacy for their loved ones.