Annuities for Utah Retirees
How fixed and multi-year guaranteed annuities work, what they cost, and the fine print.
An annuity is a contract with an insurance company. You give the company money, and in return it promises to credit interest, pay you income, or both, according to the terms of the contract. People near or in retirement often look at annuities when they want part of their savings to be predictable.
There are several kinds. A fixed annuity credits a declared interest rate. A multi-year guaranteed annuity, or MYGA, locks a rate for a set number of years. Other types tie interest to a market index or turn savings into a stream of income. Each type has its own rules about fees, surrender charges and when you can take money out.
Annuities are not bank deposits and are not insured by the FDIC. Their guarantees depend on the strength of the insurance company that issues them. Rates change often, so a licensed agent can quote today's rate. These guides explain the basics so you know what questions to ask before you commit money for several years.
Talk to a licensed Utah agent
Majestic Capital Protection serves Utah residents. Call or text Matt Harden, a licensed Utah insurance producer, or request a free quote and he'll call you back within 5 minutes during business hours.
