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Tax-deferred growth, which can compound over time, may increase the amount of savings and income your fixed index annuity generates for your retirement.
When you purchase your fixed index annuity, you often can choose the index(es) to which you allocate your annuity's value. You can also often choose the crediting method used to track changes in your selected index(es). Before we discuss those crediting method choices, let's look at some other factors that will affect how your indexed interest is calculated.
Some fixed index annuities set a maximum rate of interest (or cap) that the contract can earn in a specified period (usually a month or year). If the selected index increase exceeds the cap, the cap is used to calculate your interest.
This determines how much of the index's increase will be used to compute the indexed interest rate. If an annuity has a 100% participation rate, the contract would receive 100% of the indexed interest achieved in a given contract period, assuming, in this example, no cap or spread applies. Participation rates are generally applied after caps, and before a spread.
The indexed interest for some annuities is determined by subtracting a percentage from any gain the index achieves in a specified period. For example, if the annuity has a 4% spread and the index increases 10%, the contract is credited 6% indexed interest.
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