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Delaware insurance company to offer new set of annuities

09/27/11

The John Wingate Insurance Company recently announced its newest annuity offering, the Delaware annuity that features a number of options so clients can tailor their annuity to meet their specific needs. The Delaware annuity comes in fixed, variable and equity-indexed iterations.

According to the company, fixed annuities are typically invested in government securities or strong corporate bonds and guarantee a payout. The customer can determine the length of payout, which may cover a specific period of time, or begin and terminate with certain events like retirement and death.

Variable annuities are a bit more complex, and are typically invested in mutual finds. Payout is determined by the performance of these funds, and usually isn't guaranteed, though yields can exceed those of a fixed annuity if the fund performs well. An index annuity is somewhat of a hybrid, at least theoretically. Your investment gains are determined by the performance of a particular market index, typically over an established period of time. Indexed annuities often guarantee a minimum payout, although rates vary.

According to the Insurance Information Institute, the sale of individual fixed annuities declined by 27 percent in 2010, though recent figures show some level of interest in the products, which guarantee payouts during a time of market uncertainty. 

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