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PRODUCTS
With the
variety of investments currently available, you need the
knowledge and experience to make careful investment decisions in
order to achieve your long-term goals. You can gain access
to a full array of products and services through an Investment
Services Financial Consultant at Provident Bank.
To learn more about each product or service, look through the
list below and click on the appropriate topic of interest for
more information.
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FIXED RATE ANNUITIES
An annuity is a contract
with an insurance company that allows one to save for their retirement
and defer taxes on earnings until you request a distribution or receive
an income. However, the funds will be subject to income tax.
There is no limit to one's investment as there is with a 401(k) and
Individual Retirement Account.
Annuities
can offer regular monthly or quarterly income for the rest of one's
life. They also have options that include a death benefit, which guarantees
that when an annuity holder dies, heirs get at least the amount originally
invested and sometimes more.
A
fixed annuity has a guaranteed fixed rate of return.
The interest rate is usually higher than money market or certificate
rates. And, the insurance company guarantees 100% safety of your principal
and interest.
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VARIABLE RATE ANNUITIES
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Are you interested in
reducing your taxes, while also benefiting from the
growth potential of the stock market? If so,
then consider a
Variable Annuity.
Variable
rate annuities are retirement savings products that
combine the benefits of investing in the stock market
with the protection options of life insurance.
A
variable rate annuity is a contract between an investor
and a life insurance company. With a variable rate
annuity, you have the opportunity to invest in a range
of “sub-accounts”*. They are professionally managed
investments that include a range of securities. You can
select the sub-accounts that best reflect your
investment needs: growth, income, etc.
A
variable rate annuity also allows for transfer
privileges enabling you to move your money from one
sub-account to another as your goals change from growth
to income.
Variable
annuities allow you to accumulate assets on a
tax-deferred basis, so your earnings benefit from being
reinvested and compounding for the life of the contract.
All earnings are taxed at withdrawal**, rather then when
earned.
Many of
today’s variable annuities also provide additional
protection features for an additional charge, including:
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Guarantee*** of your original investment amount, to
protect your original investment from loss in the
event of stock market declines
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Ability to “lock-in” any market gains at a
pre-determined time (typically five years from
opening the contract)
To learn
more about variable annuities and how they may help you
reach your retirement goals, visit any
any
branch
of Provident Bank and ask to speak with an
Investment Services Financial Consultant.
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For more
complete information about variable annuities
including charges, expenses, investment
objectives, operating policies and risks please
obtain a prospectus from your Financial
Consultant. Please read the prospectus carefully
before investing or sending money. Before
investing, investors should carefully consider
the investment objectives, risks, charges and
expenses of a variable annuity and its
underlying investment options. The contract
prospectus and the underlying fund prospectuses
provide this and other important information.
* Investments in variable sub accounts will
fluctuate and when redeemed, may be more or less
than their original value.
** All withdrawals of taxable amounts are
subject to ordinary income tax and withdrawals
made prior to age 59½ may incur a 10% tax
penalty.
*** Any guarantees are backed by the claims
paying ability of the insurer. Policy
qualifications and restrictions may apply. |
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MUTUAL
FUNDS
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Looking for an investment that
provides diversification? Then consider a
Mutual Fund.
When you purchase
shares of a mutual fund, your dollars are invested in a large
number of companies all at once, and your investment risk is
spread out over many stocks and companies, not just one.
Mutual funds pool
money from a range of small investors, to invest in the market.
When you invest in a mutual fund, not only do you get
diversification*, but you also benefit from the expertise of
professional money managers. Each fund has one or more managers
who are trained in money management and review the fund’s
performance and make up on an ongoing basis.
Mutual funds appeal
to many investors because of their liquidity: they are readily
available and easy to sell. With mutual funds you can cash in
your shares, in all or in part, at any time for the current
market value. In this way, you always know that you can get
access to your funds, should it become necessary**.
Mutual funds offer
the opportunity for growth, but also involve certain risks. Over
the years, many funds have been proven to perform consistently
better than investments made by individuals who may not have the
benefit of professional money management, diversification and
liquidity***. Therefore, mutual funds are suitable for investing
for future needs, like retirement.
To learn more about
mutual funds and how they may help you reach your long-term
financial goals, visit any
branch
of Provident Bank and ask to speak with an
Investment Services Financial Consultant.
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For more complete
information about mutual fund shares, including charges,
expenses, investment objectives and operating policies,
and risks please obtain a prospectus from your Financial
Consultant. Please read the prospectus carefully before
investing or sending money. Investors should carefully
consider the investment objectives, risks, charges and
expenses before investing and that the prospectus
contains this and other information about the investment
company.
* While
diversification is an important risk management tool, it
cannot guarantee protection against losses.
** Returns
and principal value may fluctuate, resulting in a gain
or loss on sale. Proceeds on sales may be less than your
original cost. Sales charges may apply.
*** Past
performance is no guarantee of future results. |
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LIFE
INSURANCE
Appropriate
life insurance is essential to meeting your future financial obligations.
If anyone in your family depends on you it's wise to review life insurance
needs. Your Provident Financial Consultant can review
your current policies' benefits and costs and make recommendations from
a wide selection of non-proprietary top rated carriers.
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LONG
TERM HEALTH CARE
None
of us knows for sure what the future will bring. However, one thing
that every retired adult knows is that the probability of needing long-term
care increases with age. According to a study published in the New England
Journal of Medicine, nearly one in two retired Americans will spend
time in a nursing home. And the average nursing home stay is about 2.5
years.
Long-term
care can be expensive. It is important to be prepared for the possibility
of needing long-term care because none of us wants to spend our retirement
years worrying about an uncertain future.
Your
Provident Financial Consultant can review your current
policies' benefits and costs and make recommendations from a wide selection
of non-proprietary top rated carriers.
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The LPL Financial
Registered Representatives associated with this site
may only discuss and/or transact securities business with residents of
the following states:
California and Arizona
Securities and insurance products offered through LPL Financial and it’s
affiliates.
Member
FINRA /
SIPC
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NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
NOT A DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY |
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