Financial Institutions/Services - Western World Annuity
Number of Customer Reviews for Western World Annuity: 0
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Western World Annuity as the name implies specialize in annuity. For the layman, an annuity is a financial product that accumulates interest on a tax-deferred basis i.e. an annuity is a fixed amount of money paid at specified periods. Pensions from retirement annuity contracts and personal pension plans are common examples.
An annuity can also be a form of investment. You pay some amount of money to a financial institution such as an insurance company or bank to buy an annuity. This means that you buy a regular income. Tax -deferred annuity is becoming popular nowadays.
Western World Annuity takes care of all your concerns regarding various types of annuities and related contracts. They take care of all the benefits that you are to receive as well as premiums. They advise you on what and how much to buy. They suggest that you first ask yourself some basic questions to understand the same. You must determine how much annuity income you need in addition to Social Security, pension savings and investments. Do you need it just for yourself or for someone else? How can an annuity contract fit in with my overall financial planning?
They also suggest that you understand all charges being charged. You must guarantee that you can afford the premium payments. Check the flexibility of the contract. You can have a comparative check of the same contract from another firm. Carefully read and understand any restrictions and tax implications connected with the program.
An annuity offers several tax related benefits as well. Jim Wolter, Executive Vice President of Western World Annuity, says, "While every planning situation differs, a qualified annuity can effectively help preserve a senior's assets.” Good planning can help seniors preserve assets--for the at-home spouse or even heirs--and at the same time qualify for Medicaid help for long-term care costs." Annuities are a successful mode of investment. According to the National Underwriter, Western World Annuity's average agent specializing in the Medicaid annuity market writes $2 million a year of annuity premium.
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