Period Certain Annuity

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Understanding Period Certain Annuities

What is a Period Certain Annuity?

A period certain annuity guarantees payments for a specific number of years. If you pass away before the term ends, your beneficiary continues receiving payments. This ensures your loved ones are financially secure even in your absence.

How Does It Work?

  • Fixed Term Payments: You choose a term (e.g., 10, 20 years) during which payments are guaranteed.
  • Beneficiary Protection: Payments continue to your beneficiary if you die before the term ends.
  • Predictable Income: Consistent payments provide reliable income for the chosen period.

Benefits of a Period Certain Annuity

  1. Guaranteed Income: Ensures a steady income stream for a fixed period, aiding in financial planning.
  2. Beneficiary Assurance: Protects your loved ones by continuing payments even after your death.
  3. Flexibility: Choose a term that aligns with your financial goals and needs.

Considerations Before Purchasing

  • Limited Duration: Payments stop after the term ends, which might require additional financial planning for long-term needs.
  • Lower Payouts: Compared to lifetime annuities, period certain annuities may offer lower payments due to the fixed term.

Is a Period Certain Annuity Right for You?

  • Short-Term Needs: Ideal for covering short-term financial obligations, such as mortgage payments or education costs.
  • Estate Planning: Provides financial security to beneficiaries, ensuring continued support after your death.
  • Supplementary Income: Suitable for those seeking a predictable income stream to supplement other retirement savings.

Comparing Period Certain Annuities with Other Options

Period Certain Annuities vs. Lifetime Annuities
Period certain annuities essentially pay your own money back to you over time with a little bit of interest. Lifetime annuities, however, should provide a comparable annual income amount for a period longer than 15 years, ensuring financial stability for the rest of your life.

Period Certain Annuities vs. Fixed Annuities
Fixed annuities often provide a higher guaranteed fixed interest rate than period certain annuities. They can mimic the same effect as a period certain annuity but with more control and liquidity, allowing for greater flexibility in managing your financial assets.

10 Year Period Certain

How We Can Help

At The Annuity Expert, we understand the complexities and concerns of securing your financial future. With 15 years of experience as an insurance agency, annuity broker, and retirement planner, we specialize in finding the best solutions at the lowest costs.

Identifying the Core Problem
Retirement planning can be daunting, with the fear of outliving your savings and the uncertainty of market fluctuations. These concerns often lead to anxiety about financial stability and the ability to support loved ones after you’re gone.

Recognizing the Symptoms

  • Financial Uncertainty: Worry about having enough money to last through retirement.
  • Beneficiary Concerns: Fear of not leaving sufficient support for loved ones.
  • Income Stability: Stress over fluctuating income sources that don’t provide a steady stream.
10 Year Period Certain Annuity

What We Recommend

Step 1: Contact Us for a Free Consultation
During this initial step, we will discuss your financial goals and needs. The main benefit is gaining clarity on your retirement options and understanding how a period certain annuity can fit into your plan.

Step 2: Personalized Financial Plan
We will create a tailored financial strategy that aligns with your objectives. This includes analyzing your current financial situation, recommending the best term for your annuity, and ensuring beneficiary protection. The main benefit is a customized plan that offers peace of mind and security.

Step 3: Implementing Your Annuity Plan
We will guide you through the process of purchasing the annuity, ensuring you understand each step and feel confident in your decision. The happy “after state” is a secured financial future with predictable income and assurance for your beneficiaries.

Features We Provide

  • Expert Guidance: Benefit from our extensive knowledge and experience.
  • Personalized Plans: Customized solutions that meet your specific needs.
  • Comprehensive Support: Assistance through every step of the process.

Common Objections and Counterarguments

  • Concern: “The payments might be too low.”
    • Counter: Period certain annuities offer the benefit of fixed, reliable income for a predetermined period, ensuring stability and predictability.
  • Concern: “What if my needs change?”
    • Counter: Our personalized approach ensures flexibility and adaptability to your evolving financial situation.

Choosing not to work with The Annuity Expert may result in financial instability, insufficient beneficiary support, and the stress of navigating complex annuity options alone. On the other hand, partnering with us ensures peace of mind, reliable income, and a secure future for you and your loved ones.

Contact us today for free advice or a quote and take the first step towards securing your financial future.

Period Certain Annuity

Period Certain Annuity Quotes

Get a period certain annuity quote from a licensed financial professional. This service is free of charge.

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Questions From Our Readers

What does a 30-payment annuity mean?

It means the annuity will provide payments for 30 periods (months, years, etc.).

What is annuity certain?

An annuity certain is a type of fixed-term annuity that guarantees a specific number of payments for a predetermined period, regardless of the annuitant’s lifespan. This arrangement provides a guaranteed income stream for a set period, typically from a few years up to several decades.

What is a 5-year period certain annuity?

A 5-year period certain annuity is a financial product that guarantees payouts for a fixed term of 5 years. It provides a steady income stream for the specified duration, offering security to the annuitant. This type of annuity ensures that payments will continue for the full 5-year period, regardless of the annuitant’s lifespan.

What is a 10-year period certain annuity?

A 10-year period certain is a type of annuity guaranteeing payments for a minimum of 10 years, even if the annuitant dies before the period ends. This ensures beneficiaries receive the remaining payments until the agreed-upon time frame expires, providing a financial safety net for the annuitant’s loved ones.

I’m 84. Can I get a 10-year certain and life annuity? Would this be wise for someone my age?

You can get a 10YR Period Certain and a life annuity at age 84.
We would generally recommend one that does pay a lifetime income instead of a period certain due to the risks of outliving the funds on a period certain.  Even at age 84, there is a good chance that could happen.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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