Annuities

Who's Who in an FIA?

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What is a Fixed Indexed Annuity?

A fixed indexed annuity (or FIA) is a contract between an individual and an insurance company. The contract details, among other things, each party’s rights and responsibilities, how long the money must remain in the annuity, and how the interest rate is calculated. An FIA may help you secure a guaranteed* source of lifetime income.

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Does an FIA Come With a Death Benefit?

Certain annuity products, including FIAs, provide a death benefit to your spouse or other beneficiaries. You have several options for a death benefit. For example, you may choose to have the death benefit paid in one lump sum. Alternatively, you could have it set up so that your spouse receives it in a series of regular payments. Whatever option you choose, make sure you understand all of the details. In fact, we’d be happy to answer your questions and explain how a fixed indexed annuity works. However, several details depend on the individual contract and how it is structured.

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Who's Who in a Fixed Indexed Annuity?

Three (sometimes four) parties are involved in an FIA contract. These roles include:

  • The insurance company that issues the annuity and backs its claims
  • The contract owner, who purchases and contributes the money to the annuity (you, if you decide to purchase one)
  • The annuitant, who receives the payout from the annuity (typically, the contract owner and annuitant are the same person, but they can be different)
  • And the beneficiaries, who receive a death benefit from the annuity after the annuitant passes away
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**Our products offer a reasonable rate of return, over time.

IMPORTANT CONSUMER INFORMATION
This site is for informational purposes only and is not intended to be a solicitation for or offering of any product or investment. The offer for sale of an insurance product may only be conducted in a state where the agent is licensed and the product is approved for sale. The providing of investment advice relating to securities may only be done by a properly licensed individual operating through a licensed affiliate entity, unless otherwise exempt. Comments about past performance are not to be construed as a guarantee or assurance of future performance. This website may contain concepts that have legal, accounting and tax implications. We do not provide specific legal or tax advice, nor promote, market or recommend any tax plan or arrangement. Consult a tax/legal professional for guidance with your individual situation. No representations are made as to the accuracy or completeness of the information contained herein or any information contained in any link provided herein, nor does a consumer visiting the web site create an agent-client relationship.

By contacting Joseph Faragi NJ Ins Lic. #1535851/Joseph Faragi Delaware Lic. #3003044554/James E Leader Jr. Delaware Lic. #3003046271/Faragi Group Retirement Solutions LLC NJ Ins Lic. #3000533178, you may be offered information regarding the purchase of insurance products, including fixed index annuities and life.
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