Retirement, in anybody’s life, is a milestone that gives you hope and opportunity to enjoy the life you have been craving for during those years of employment. However, it can be possible only when you are economically capable of it. Brighthouse annuities give you the financial strength to afford such plans.
To prepare yourself effectively for retirement, you might need to make some investments in equity market. Although, a retirement plan is long-term savings, but that’s only possible when you enjoy a certain growth in your portfolio regardless of fluctuations in the stock market rates. Therefore, such a strategy might be helpful to achieve your goals for retirement savings while ensuring your plans are not derailed by unexpected events.
What are the benefits of fixed rate Brighthouse annuities?
Financially, if you plan to save for the future, here are a couple of things that you should keep in mind while purchasing your plan:
- Market volatility, meaning the fluctuations in the stock market could be a nightmare for even the most disciplined investors. It happens due to changes in assets or economic fundamentals or changes in investor perceptions.
- Brighthouse Fixed-rate annuity offers you a guaranteed return with a fixed interest rate for a predetermined period. It ensures your income growth as well adds a certainty to your retirement savings.
Besides, the fixed interest rate that your annuity package earns is guaranteed for the initial guarantee period you choose.
Besides the guaranteed growth and return on savings, you may get the benefits of tax deferral offered by Brighthouse annuities. Generally, you don’t have to pay your taxes until you withdraw the retirement savings. Just because the taxes are inapplicable on the interest rates you will earn on your savings each year, hence, your savings stays the same until the initial Guarantee period you elect comes to an end.
- Earn impressive interest on your assets
- Get interested on your interest
- Otherwise, your taxes will be paid using the amount of interest earned during deferral
Choice of initial guaranteed period
You can choose the time period for which you money earn interests (suppose 3,5 or 7 years). Once the Guaranteed initial period ends, eventually, the contract automatically renews into a subsequent Guarantee period of one year, free of a withdrawal charge
Access to your Assets
Brighthouse annuities offer you a valuable feature known as Free Withdrawal Amount. In case, an urgent requirement arises, it allows you to withdraw 10% of your purchase payment the first year and 10% of your account value each year afterward.
You should know that charges are applicable on whatever amount you withdraw in excess of Free Withdrawal Amount, there are a few instances where the additional charges are not applicable including:
- Nursing Home waiver
- Terminal Illness Waiver
- Required Minimum Distribution (RMD)
- Withdrawal after initial Guarantee period