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Michael  J. Deprima
With offices in Staten Island, Brooklyn & Manhattan I can easily meet with you at your convenience.
This product comes in many different forms. All Annuities are contracts sold by Insurance companies that pay an income benefit (monthly, quarterly, semiannual, or annual) to the Annuitant (person who funded the Annuity). Unlike Life insurance, an Annuity does not require a medical and pays back while the Annuitant is still alive and continues paying to the selected beneficiary after the Annuitant passes away. 

There are several different types of options, which I would love to sit down and discuss with you. To name a few:

Fixed Annuities guarantee you a rate of return. You chose a time frame that works best for you and you are locked into an interest rate, which you gain on your principle investment and on all money that is put into the annuity while the time frame is active. Once you reach the selected period of time you are guaranteed the money you invested into this product plus all of the interest you have accumulated over the life of the Annuity. This particular product provides a fixed income for life.

Variable Annuity is tied to the stock market. Although the idea is the same, pick a length of time, invest money into the product and wait until the time frame is over and get paid out the amount of accumulated money, this product does not lock you into any guaranteed interest percentage. This product may make you much more than a fixed annuity will make you or this product has the possibility of giving you less of a return due to the Stock market not performing well during the time frame it was active. There are also several other types of Annuities that are available to you and to decide what is best for your particular situation I would love to sit down with you and work with you to see what is in your best interest. All annuities pay out after the selected time frame is up and continue to pay until the death of the Annuitant. At that point in time, if the product is selected properly and set up correctly, the monthly income check from this Annuity will continue to come to the beneficiary, which is elected by the Annuitant while they are alive. 

Annuities have the power to pay someone back for their entire lifetime surpassing the amount of interest they accumulated and continuing until death. The money earned on this product can also be paid back to you tax-free. Lets sit down and see how we can make your money work for you!
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Michael J. Deprima
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