What is an Income FIA?

Think of an FIA as a way to get better rates, making it a good companion to existing retirement accounts. With FIAs, the insurance company guarantees your money will grow at a rate that adjusts each year, meaning the rate you get this year may not be the rate you receive next year. Unlike CDs or savings accounts, you also get tax advantages since your earnings grow tax-deferred.

Can I get a lifetime income?

Yes, this is one of the most valuable features of an FIA. You can convert your savings into a guaranteed income stream that lasts as long as you live, something regular savings accounts can't offer. The amount you'll receive depends on factors like your age and the payout option you choose, and once set, these payments are guaranteed for life.

How are income-focused FIAs taxed?

Income-focused annuities work differently from MYGAs and growth-focused FIA's as they provide regular payments rather than lump sum withdrawals. If your principal investment came from a qualified retirement account, 100% of each payment is taxable as ordinary income. If you use after-tax money as your principal investment, only part of each payment is taxed using an exclusion ratio, which allows you to receive your original principal tax-free while the earnings portion is subject to tax. Once you've received all your original investment back, future payments become fully taxable.

How liquid is my money?

You can typically take out up to 10% of your money each year without any penalties. This amount is your 'free withdrawal' amount. In the event you need more, you can take out larger amounts, but you may face additional charges during the surrender period. Many contracts also let you access more if you face hardships like medical emergencies.

What's the difference between an Income FIA and a MYGA?

The main difference is flexibility versus rate guarantee. A Traditional Fixed Annuity can adjust rates up when market rates rise, while a MYGA locks in one rate for several years. Think of it like choosing between an adjustable rate mortgage and a fixed-rate mortgage - each has its advantages depending on what you value more.

How safe is my money?

Your money is backed by both the insurance company and additional state protections. Insurance companies are required to keep substantial reserves to back their promises, and state guarantee associations provide an extra layer of protection. It's like having a safety deposit box with multiple locks.

Fixed Indexed Annuity: Income

Income focused Fixed Indexed Annuities turn your savings into guaranteed monthly payments that can last your entire lifetime, regardless of how long you live.

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Key features

Income focused Fixed Indexed Annuities turn your savings into guaranteed monthly payments that last your entire lifetime, regardless of how long you live. Your income payments can potentially increase based on market performance, but the base payment amount is always guaranteed. This creates a personal pension that provides financial security throughout retirement.

Lifetime Income Guaranteed

Income Can Increase

Never Runs Out

Paychecks For Life

Receive guaranteed income for life

Tax Benefits

Growth is tax-deferred until withdrawal

Market Upside

Benefit from returns tied to the market.

Safety

Backed by Insurance companies

Benefits

How Income FIAs Work: simplifying your finance

Income Base

Your money grows in an "income account" used to calculate payments

Lifetime Payments

Payments continue for life

Potential Rate Increases

If markets perform well, your income payments can increase

Death Benefit

Remaining value goes to your beneficiaries

Use Cases

Who Income FIAs
Are Built For:

Retirement Income Planners

You're approaching or in retirement and want to convert a portion of your savings into guaranteed monthly income that lasts your entire life.

Pension Replacement Seekers

You don't have a traditional pension and want to create your own guaranteed income stream to supplement Social Security.

Legacy Protectors

You want lifetime income for yourself while potentially leaving the remaining value to beneficiaries.

FAQ

The Big Questions

Choose Your Plan

Annuity
‍Comparison

All types include the folowing:

Death benefit provisions

Free look period

Withdrawal allowances

Tax-deferred growth

MYGA

Key Differences

Same rate for the entire term

Typically provides higher rates than traditional fixed annuitles

Considerations

Most restrictive withdrawal terms

Fixed returns without market growth potential

Fixed term length with no extension options

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Growth

Key Differences

Capture market gains with downside protection

Choose from multiple wealth building strategies

Guaranteed lifetime income available through riders or annuitization

Considerations

Crediting methods and caps can be complex

Can come with higher fees

Potentially longer surrender periods

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Income

Key Differences

More flexible withdrawal options than MYGAs

Clear, predictable income for life

Considerations

Typically offers lower rates than MYGAs

Returns may not keep pace with inflation

Rules and guaranteed income options can be complex

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Testimonials

How lives
are transformed

Hiwire made it easy

I had been overwhelmed trying to understand annuities, but Hiwire made it easy. They took the time to explain everything in plain language and answer all of my questions. I never felt rushed, and they truly cared about helping me choose what was best for my situation. Outstanding experience from start to finish.

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An outstanding advisor

Nick didn't just read from a menu script. He was very in tune to my concerns. A major portion of our communication was via video chat, which makes a huge difference in customer satisfaction and impact of the presentation. The information was much easier to absorb.

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All of my questions were answered

My HiWire Financial Representative was very patient with me. He answered all of my questions.

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Fixed Indexed Annuity: Income

Key features

Paychecks For Life

Tax Benefits

Market Upside

Safety

How Income FIAs Work: simplifying your finance

Income Base

Lifetime Payments

Potential Rate Increases

Death Benefit

Who Income FIAs Are Built For:

Retirement Income Planners

Pension Replacement Seekers

Legacy Protectors

The Big Questions

Annuity‍Comparison

MYGA

Growth

Income

How lives are transformed

Hiwire made it easy

An outstanding advisor

All of my questions were answered

Ready to Secure‍your retirementfuture?

Who Income FIAs
Are Built For:

Annuity
‍Comparison

How lives
are transformed

Ready to Secure
‍your retirement
future?