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Gelinas Financial Group, Inc.

LISTEN, UNDERSTAND, RESEARCH, HELP. Money management has a new reality. Financial-planning efforts must consider “the whole client.” We offer a multi layer approach that starts with education. We strive to gain your trust then deliver the results you seek. At Gelinas Financial Group, Inc., our passion is supporting our clients by adding value: You need information to make correct decisions. We’ll help you achieve higher levels of success and better process management through cutting-edge solutions, training, mentoring, and continuing education. Our objectivity and independence mean you get the financial-planning and risk-management solutions that meet the unique demands of your present situation. We offer our expertise in the following areas: Financial Planning Retirement Planning Insurance Investment Coaching Annuities More Hope is not a strategy. We meet with our clients regularly to scrutinize their investments and make adjustments.

Benefits of Having a Variable Annuity With a Deferred Income Annuity Rider

Shawna Kreis Shawna Kreis , 3/11/2015
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Gelinas Financial Group, Inc., GA, Multi Year Guaranteed AnnuitiesWhen you buy a variable annuity with your insurance coverage, it is important to consider having living benefit riders. This option makes your variable annuity safe in the event of stock market losses. They are not always that dependable, but bring guaranteed benefits. Annuity buyers can choose riders which are optional add-ons. the benefit of this option is that they have no additional cost. There are two kinds of variable annuity living benefit riders: one is the GMWB or guaranteed minimum withdrawal benefits and the other is the GMIB or guaranteed minimum income benefits. A GMWB guarantees to return all of the paid premiums into the contract through a series of annual withdrawals. The withdrawals covered by this rider will be limited to a certain percentage of the premium. For example, if the annual limit is 5%, you will need to receive 20 annual withdrawals to recover all of your premiums. Usually, GMWBs cannot be cancelled in your contract. The cost of the GMWB will be charged annually as a percentage of separate assets. A GMIB, or guaranteed minimum income benefits, ensures the right to annuitize your contract into one payout program with a specified periodic income; usually after a waiting period. For example, if you have put 50,000 dollars into a contract, the GMIB guarantees that you can change it to monthly payments of at least $420 a month. The bottom line is that variable annuity riders involve separate buying decisions and makes sense based on their own benefits. GMWBs and GMIBs cost you additional money in terms of payments and you will only be repaid for this cost in the future.  Various circumstances to choose this option will depend on the needs of the buyer rather than the performance of the stock market. It is safe to hold on to your variable annuity for at least 20 years with a GMWB and with a GMIB but be aware that there is a required waiting period of 10 years.