Guardian Insurance & Annuity Company (GIAC), a Guardian Life Insurance Company subsidiary, offers a range life and annuity options. There are whole, term and dental life insurance options. They are all designed for future income payments and the repayment of premiums. These can also be used as an option to purchase a life-long annuity.
The main advantage of this annuity type is the absence of annual fees. Instead, you must pay a minimum premium up front. After three to ten year, the policy will begin to pay. If you do not pay your premium, your policy will be terminated. There is also an optional 10-day free look. Any premiums that you have paid will be refunded if you decide to cancel your policy. Annuity funds can be pulled at any time. Withdrawals will still be subject to income taxes.
An annuity with guaranteed income from GIAC is a great option for those who want guaranteed income. The company's product is guaranteed by the issuing insurance company and you will never have to worry about market returns affecting the payout of your premium. You can decide how long your annuity will last, and how high you want your payments growing. You can also add riders to annuities to increase your benefit.
GIAC also offers a Guardian Fixed Target Annuity type of annuity. You can choose a fixed or variable interest rate to make your payments. The annuity is also customizable to suit your needs. You can also customize the withdrawal fees schedule. These fees are calculated based on 10% off the contract value. You would pay a 10% charge if you bought a 10-year contract.
If you are interested in purchasing a policy from GIAC, you can learn more about their products on their website. There are many options available, including the Guaranteed Life Annuity, which can be guaranteed for between five and 30 years. This product comes with an extra death benefit rider to ensure that you get your premium back in full when you die.
The Guardian SecureFuture Income AnnuitySM offers a more predictable and flexible income. The Guardian Insurance & Annuity Company offers a lifetime income guaranteed and backs the product with its claims-paying capabilities. You have the option to invest in a variable-annuity which allows you to change the direction of the investment.
Guardian offers a number of annuity and insurance products in addition to the GIAC. CANNEX makes it possible to compare the annuities. This tool allows more than 150,000 professionals in financial services to make informed decisions about annuities. This site allows you to compare annuities based on their age, issue date, payment options, as well as other factors.
FAQ
What kinds of investments exist?
Today, there are many kinds of investments.
Here are some of the most popular:
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Stocks – Shares of a company which trades publicly on an exchange.
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Bonds - A loan between 2 parties that is secured against future earnings.
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Real estate - Property owned by someone other than the owner.
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Options – Contracts allow the buyer to choose between buying shares at a fixed rate and purchasing them within a time frame.
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Commodities-Resources such as oil and gold or silver.
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Precious metals – Gold, silver, palladium, and platinum.
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Foreign currencies - Currencies outside of the U.S. dollar.
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Cash - Money that is deposited in banks.
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Treasury bills – Short-term debt issued from the government.
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A business issue of commercial paper or debt.
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Mortgages - Loans made by financial institutions to individuals.
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Mutual Funds - Investment vehicles that pool money from investors and then distribute the money among various securities.
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ETFs – Exchange-traded funds are very similar to mutual funds except that they do not have sales commissions.
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Index funds – An investment fund that tracks the performance a specific market segment or group of markets.
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Leverage – The use of borrowed funds to increase returns
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ETFs (Exchange Traded Funds) - An exchange-traded mutual fund is a type that trades on the same exchange as any other security.
The best thing about these funds is they offer diversification benefits.
Diversification is when you invest in multiple types of assets instead of one type of asset.
This helps to protect you from losing an investment.
What should I look out for when selecting a brokerage company?
Two things are important to consider when selecting a brokerage company:
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Fees - How much will you charge per trade?
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Customer Service – Can you expect good customer support if something goes wrong
You want to work with a company that offers great customer service and low prices. You won't regret making this choice.
How do I start investing and growing money?
You should begin by learning how to invest wisely. You'll be able to save all of your hard-earned savings.
Learn how you can grow your own food. It is not as hard as you might think. With the right tools, you can easily grow enough vegetables for yourself and your family.
You don't need much space either. Just make sure that you have plenty of sunlight. Also, try planting flowers around your house. They are simple to care for and can add beauty to any home.
Consider buying used items over brand-new items if you're looking for savings. The cost of used goods is usually lower and the product lasts longer.
How can I reduce my risk?
You need to manage risk by being aware and prepared for potential losses.
An example: A company could go bankrupt and plunge its stock market price.
Or, the economy of a country might collapse, causing its currency to lose value.
When you invest in stocks, you risk losing all of your money.
Remember that stocks come with greater risk than bonds.
One way to reduce risk is to buy both stocks or bonds.
By doing so, you increase the chances of making money from both assets.
Spreading your investments over multiple asset classes is another way to reduce risk.
Each class has its own set risk and reward.
For instance, stocks are considered to be risky, but bonds are considered safe.
So, if you are interested in building wealth through stocks, you might want to invest in growth companies.
You might consider investing in income-producing securities such as bonds if you want to save for retirement.
Should I buy individual stocks, or mutual funds?
You can diversify your portfolio by using mutual funds.
However, they aren't suitable for everyone.
For instance, you should not invest in stocks and shares if your goal is to quickly make money.
You should opt for individual stocks instead.
Individual stocks offer greater control over investments.
In addition, you can find low-cost index funds online. These allow you track different markets without incurring high fees.
Statistics
- 0.25% management fee $0 $500 Free career counseling plus loan discounts with a qualifying deposit Up to 1 year of free management with a qualifying deposit Get a $50 customer bonus when you fund your first taxable Investment Account (nerdwallet.com)
- Over time, the index has returned about 10 percent annually. (bankrate.com)
- An important note to remember is that a bond may only net you a 3% return on your money over multiple years. (ruleoneinvesting.com)
- If your stock drops 10% below its purchase price, you have the opportunity to sell that stock to someone else and still retain 90% of your risk capital. (investopedia.com)
External Links
How To
How to properly save money for retirement
Retirement planning is when your finances are set up to enable you to live comfortably once you have retired. It's the process of planning how much money you want saved for retirement at age 65. You should also consider how much you want to spend during retirement. This includes hobbies, travel, and health care costs.
You don't always have to do all the work. Numerous financial experts can help determine which savings strategy is best for you. They will assess your goals and your current circumstances to help you determine the best savings strategy for you.
There are two main types of retirement plans: traditional and Roth. Roth plans allow you to set aside pre-tax dollars while traditional retirement plans use pretax dollars. It all depends on your preference for higher taxes now, or lower taxes in the future.
Traditional Retirement Plans
A traditional IRA allows you to contribute pretax income. Contributions can be made until you turn 59 1/2 if you are under 50. If you want your contributions to continue, you must withdraw funds. You can't contribute to the account after you reach 70 1/2.
If you have started saving already, you might qualify for a pension. The pensions you receive will vary depending on where your work is. Some employers offer matching programs that match employee contributions dollar for dollar. Some offer defined benefits plans that guarantee monthly payments.
Roth Retirement Plans
Roth IRAs have no taxes. This means that you must pay taxes first before you deposit money. Once you reach retirement, you can then withdraw your earnings tax-free. However, there are limitations. You cannot withdraw funds for medical expenses.
Another type of retirement plan is called a 401(k) plan. These benefits are often provided by employers through payroll deductions. Employer match programs are another benefit that employees often receive.
Plans with 401(k).
Many employers offer 401k plans. You can put money in an account managed by your company with them. Your employer will automatically contribute a percentage of each paycheck.
The money grows over time, and you decide how it gets distributed at retirement. Many people choose to take their entire balance at one time. Others may spread their distributions over their life.
Other types of Savings Accounts
Some companies offer additional types of savings accounts. TD Ameritrade offers a ShareBuilder account. This account allows you to invest in stocks, ETFs and mutual funds. You can also earn interest on all balances.
Ally Bank can open a MySavings Account. This account allows you to deposit cash, checks and debit cards as well as credit cards. Then, you can transfer money between different accounts or add money from outside sources.
What next?
Once you've decided on the best savings plan for you it's time you start investing. Find a reputable firm to invest your money. Ask friends or family members about their experiences with firms they recommend. Online reviews can provide information about companies.
Next, figure out how much money to save. This step involves determining your net worth. Net worth can include assets such as your home, investments, retirement accounts, and other assets. Net worth also includes liabilities such as loans owed to lenders.
Divide your net worth by 25 once you have it. That number represents the amount you need to save every month from achieving your goal.
For example, let's say your net worth totals $100,000. If you want to retire when age 65, you will need to save $4,000 every year.