Annuities are helpful holdings in the right client portfolio.

They are complex instruments of investment and need to be carefully placed.

fixed annuity is a four-party contract sold by an insurance company. The parties consist of the insurer, the owner, the annuitant, and the beneficiary. Fixed annuity contracts pay a fixed rate of return for a specified period. The full value of the investment is available for return to the client after a predetermined number of years.

Fixed annuities are guaranteed by the insurance company issuing them. These types of annuities tend to be lower yielding and conservative in nature. Typically, there are penalties imposed for opting out of a contract before the specified period is up.

Annuities can be used to both save for retirement and to supplement your income when the time comes to retire. Deferred annuities can be used to assist you in building tax-deferred savings to fund your retirement planning. Immediate annuities help give you the peace of mind of a guaranteed monthly income for a specified number of years or for your lifetime.

At Ingenuity Financial Services, annuities are not a large part of our business. In specific circumstances, however, annuities can be uutilized very effectively and therefore are one of the many products we use to assist our clients in achieving their life goals.

Guarantees extend only to the claims-paying ability of the issuer.