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Annuities
Build reliable income for retirement with annuities.
Annuities are long-term financial products designed to help provide income stability and retirement security. Offered by insurance companies, annuities can play an important role in a well-balanced financial strategy—especially for individuals looking to reduce the risk of outliving their savings.
What are Annuities?
An annuity is a contract between you and an insurance company. You contribute money (either in a lump sum or over time), and in return, the insurer agrees to provide income payments either immediately or at a future date.
There are two main categories:
Immediate Annuities – Begin paying income shortly after purchase
Deferred Annuities – Allow your money to grow first, with income starting later (often during retirement)
Benefits of Annuities
Reliable Income Options
Certain annuities can provide income that lasts for a specific period—or even for life—helping reduce the risk of outliving your savings.
Tax-deferred growth
Earnings within an annuity generally grow tax-deferred, meaning taxes are typically owed only when withdrawals are taken.
Flexible payout options
Annuities offer flexible payout options, allowing you to choose between a lump sum payment or a series of regular payments over time.
Optional Protection Features
Some annuities offer optional riders (for an additional cost) that may provide benefits such as income guarantees, death benefits, or long-term care features.
Types of Annuities
Here's an overview of the most common types
Fixed annuities
Offer a guaranteed interest rate and predictable growth, making them attractive for conservative investors.
Variable annuities
Allow investment in market-based subaccounts. They offer greater growth potential but also involve market risk.
Indexed annuities
Provide returns linked to a market index (such as the S&P 500), with built-in limits on gains and protection against certain losses.
Is an Annuity Right for You?
Annuities are not one-size-fits-all. They are typically best suited for individuals with long-term goals who value income stability and tax-deferred growth. Our team can help you evaluate your goals and determine whether an annuity fits your financial plan.
