RRCU Financial Services – Financial Planning*
Prepare for your future and ease your mind today
Interested in Financial Growth?
RRCU Financial Services can help with your financial goals for the future. Have questions? Come and meet with one of our RRCU Financial Services Representatives. Our home office is located on Summerhill Rd in Texarkana, Texas, but we can meet you at any RRCU branch location in our four-state corner.
Fixed Indexed Annuities
How do annuities work?
There are many different types of annuities. Fundamentally, all annuities work in a similar fashion. An annuity contract entails a lump-sum purchase in exchange for a series of immediate or deferred income distributions. The size, timing, variability, and duration of the distributions depends on how the contract is structed, which should be aligned with your investment objectives and tolerance for risk.
What are the most popular types of Annuities?
The variation exists to fit the diverse needs of the investors, especially retirees. At the highest level, annuities can be identified by the following three categories. Fixed annuities, Fixed indexed annuities, and variable annuities.
When should I buy an annuity?
Generally, the ideal time to buy an annuity is in your 50s or 60s. At this age, it’s essential to determine how you’ll generate income to cover your living expenses when you stop working.
Is an Annuity a Good Investment?
An annuity is not an inherently good or bad investment. It can be a good investment for a conservative investor with a relatively short time horizon, minimal appetite for market volatility and the desire for a hands-off, guaranteed stream of income.
However, it can be a bad investment for a growth-minded investor with a long-time horizon, money to endure near-term market volatility and the ability to generate income from other types of investments.
What happens to my annuity when I die?
An attractive feature of many annuities is the death benefit. Upon death, it allows an annuitant to transfer any remaining assets in an annuity to a spouse or surviving beneficiary. Without the death benefit, all remaining assets are surrendered to the issuing insurance company upon the annuitant’s death.
* Insurance offered to Red River Credit Union members through Red River Member Service Group, LLC dba RRCU Financial Services is a wholly owned subsidiary of Red River Employees Federal Credit Union. Financial services and insurance products are available to credit union members, but not provided by or guaranteed by Red River Employees Credit Union.