Bennett Financial Services logo

Bennett Financial Services

Colardo Springs Life Insurance, Homeowners Insurance and Liability Insurance

(719) 637-3116

Monument Annuity Plans

Bennett Financial Services can help eliminate the worries of outliving your income and savings by offering annuities that are designed to provide a reliable cash flow throughout your retirement. Our Monument insurance advisers can help you choose from a range of flexible plans that will allow you to protect your savings and generate a reliable stream of income for your golden years.

Why Purchase an Annuity?

There are various benefits to purchasing an annuity to supplement your retirement including:

  • Guaranteed income for the duration of the annuity
  • No annual limit to contributions
  • Prior to withdrawal, all investments into the annuity are tax-deferred
  • Beneficiaries are eligible for death benefits

Basic Types of Annuity

Fixed Annuities:

Receive a fixed monthly payment for life when you pay upfront. A fixed annuity provides you with a steady income that remains unaffected by market changes.

Benefits of a Fixed Annuity:

  • An anticipated return you can count on
  • Income growth potential
  • Tax deferred growth
  • Guaranteed minimum interest rates
  • 100% protection of your accumulated wealth
  • Access to your money for unexpected events

Annuity Payout Options

There are two primary forms that annuity payouts can take. Both have unique benefits, and drawbacks.

  1. Life Annuity; this format of annuity offers the highest income, but can’t be paid out to a beneficiary in the event of recipient death. There are numerous factors that may influence your maximum and minimum payments including age, sex, current interest rates, and cost of living.
  2. Term Certain Annuity; this format is payable for a fixed time that is decided by the purchaser of the annuity. The minimum and maximum payments of this format can also fluctuate based on a variety of factors.

Consult with a Bennett Financial Services adviser in Monument to answer any of your insurance and annuity questions. We look forward to hearing from you!

Fixed Index Annuities

With a Fixed Index Annuity your retirement savings is protected from risk until it is needed.

Benefits of a Fixed Index Annuity:

  • Save money without it being subject to the ups and downs of the stock market.
  • No tax implications during the contract period.
  • Can provide an income stream you cannot outlive.