Annuity Rates

Your Guide to Finding the Best Annuity for Your Needs

Don’t just chase the highest annuity rates. Learn how to compare annuities, understand key factors beyond rates, and choose the best annuity for your retirement goals.

Annuity Basics

What Are Annuities?

Annuities are financial contracts designed to provide a series of payments at regular intervals, primarily for retirement income. You pay a premium to an insurance company, and in return, they guarantee a stream of income for a specified period or the rest of your life.

Types of Annuities

• Fixed Annuities: These annuities offer a guaranteed interest rate for a specific period, providing predictable income and principal protection.
• Fixed Indexed Annuities (FIA): FIAs are designed to offer a balance of growth and security. FIAs offer potential growth based on equity index-linked strategies and may offer fixed-interest strategies.
• Variable Annuities: These annuities allow you to invest in various sub-accounts, like mutual funds. Returns can be higher, but they also carry more risk due to market fluctuations.

Understanding Annuity Rates

Crediting Rates:

The crediting rate determines the growth of your annuity’s value. Fixed annuities have a set rate, while Fixed Indexed Annuities (FIAs) have rates linked to market performance, often with a guaranteed minimum on specific crediting strategies like the Fixed Interest Rate. Variable annuity returns depend on the performance of the chosen sub-accounts.

Guaranteed Minimum Interest Rates:

Guaranteed rates provide a safety net against market downturns, ensuring a minimum return on your investment. It’s essential to understand the specifics of these guarantees, as they can vary between different annuity products.

Beyond the Rates: Choosing the Best Annuity

While annuity rates are a significant factor, they are just one piece of the puzzle. To find the most suitable annuity for your needs, consider these crucial aspects:

• Financial Strength of the Issuer: Research the insurance company’s financial stability and ratings from independent agencies like A.M. Best. A high rating indicates the company is well-positioned to fulfill its financial obligations to policyholders.
• Contract Terms: Evaluate the length of the annuity contract and ensure it aligns with your financial goals and retirement timeline. Some annuities offer flexible terms, allowing you to choose a duration that suits your needs.
• Flexibility and Liquidity: Assess the annuity’s withdrawal options and any associated fees or surrender charges. If you anticipate needing access to your funds, prioritizing annuities with flexible withdrawal provisions or penalty-free withdrawal periods may be better suited for you. 
• Additional Features and Riders: Explore optional features or riders that can enhance your annuity’s value. Consider how these features align with your specific needs and risk tolerance.
• Customer Service and Support: Choose a company known for its excellent customer service and support. Look for resources like educational materials, online tools, and responsive customer service representatives who can address your questions and concerns.

Remember, choosing an annuity is a personal decision. By carefully considering these factors and comparing different options, you can find an annuity that aligns with your financial goals and provides the peace of mind you deserve in retirement.

Questions to Ask When Comparing Annuities

• What are my financial goals, and how does an annuity fit into them?
• How long can I commit my funds to an annuity?
• What level of income do I need during retirement?
• How important is principal protection to me?
• What is the financial strength rating of the issuing company?
• Are there any fees or surrender charges I need to be aware of?
• What additional features or riders are available, and how do they benefit me?

Example Comparison: Oceanview MYGA vs. Oceanview FIA

• MYGA (Multi-Year Guaranteed Annuity): Offers guaranteed interest rates, principal protection, tax-deferred earnings, and flexible withdrawal options.
• FIA (Fixed Indexed Annuity): Provides potential for market-linked growth with principal protection, tax-deferred growth, additional riders, and various crediting strategies linked to market indices.

Secure Your Retirement Today – Get a Free Annuity Quote

Choosing an annuity involves more than just comparing interest rates. Consider your individual financial goals, risk tolerance, and desired features. Consulting with a financial professional can help you make an informed decision tailored to your unique needs.

Why Choose Oceanview for Your Annuity Needs?

At Oceanview Life, we offer more than just competitive annuity rates. Our commitment to your financial security goes beyond numbers:

• A-Rated Financial Strength: Our “A” (Excellent) rating from A.M. Best reflects our unwavering commitment to stability and sound financial management.
• Competitive Rates & Guaranteed Income: Whether you seek the security of a guaranteed rate or the potential for market-linked growth, our MYGA and FIA products offer options to match your risk tolerance and financial goals.
• Customer-Centric Focus: We prioritize your needs with exceptional customer service, educational resources, and flexible annuity options designed to provide peace of mind.
• Proven Expertise: Backed by Bayview Asset Management’s 25+ years of investment experience, your annuity is managed with care and expertise.

Ready to take the next step toward a secure retirement? Explore Oceanview’s annuity solutions today and discover how we can help you achieve your financial goals.

Disclaimer: 

Harbourview MYGA Contract (Policy Form ICC19 OLA SPDA), and Harbourview FIA Contract (ICC19 OLA FIA), their product riders and state variations are issued by Oceanview Life and Annuity Company, Denver, CO (in CA d/b/a Oceanview Life and Annuity Insurance Company).  Product features, limitations, and availability may vary.  Products not available in all states.  A.M. Best Rating as of November 1, 2023, is subject to change.  A (Excellent) rating is the third highest of fifteen possible rating classes for financial strength.  This material is a general description intended for educational purposes only.  Your contract documents will contain more details.  Oceanview does not provide investment advice for any individual or in any individual situation, and therefore nothing in this correspondence should be read as such.  Please reach out to your financial professional if you have any questions.  Neither Oceanview nor any of its representatives may provide tax or legal advice.  While care was taken in compiling this information, the Company reserves the right to correct any typographical errors that may exist.  

ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND ARE NOT GUARANTEED BY ANY BANK NOR INSURED BY THE FDIC OR ANY OTHER FEDERAL GOVERNMENT AGENCY.  NOT A DEPOSIT.  MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT.  GUARANTEES ARE SUBJECT TO THE CLAIM PAYING ABILITY OF THE ISSUING INSURANCE COMPANY.