MetLife is a company we all know and trust, if for nothing else than their mascot Snoopy, but did you know that Metlife also offers both variable annuities and fixed annuities? Annuities are an investment that many people choose to help provide a income either right away (immediate annuities) or at a future date such as retirement (deferred annuities).
MetLife’s two fixed deferred annuity programs are called Preference Guaranteed Select fixed annuities and Preference Flex Select Premium Deferred fixed annuities and both have different options that may or may not appeal to the individual investor.
The Preference Guaranteed fixed annuity acts more like a simple fixed annuity where you contribute your annuity payments and that money is invested tax deferred (depending on where you live and your local tax laws) and accumulates interest. When you are ready to receive payments the you will then pay taxes on your annuity payments.
The Flex Select fixed annuities offer a bonus interest rate of 4% for each deposit you make through the first year according to their website at the time of this writing. I did not see any information on when this bonus rate ends so be sure to verify this before investing in met life annuities.
There are also a variety of MetLife variable annuities for those of you looking for a potentially higher return in times of market prosperity. With a variable annuity you can invest in a variety of other investment options if you are looking for a chance at a higher return than the fixed annuity rates offer. Since variable annuity investments can and do go down, MetLife offers an optional “living benefit rider” that offers a minimum annuity return on your investment that may offer the best of both worlds.