Annuities

Annuities are financial contracts between an individual and an insurance company. In exchange for a lump sum payment or a series of payments, the annuity provider guarantees periodic payments to the annuitant. These payments can be made in a lump sum, for a specific period, for life, a lump, or a combination of both. Annuities are a versatile financial tool, often used to generate a reliable income stream during retirement.

Features

• Guaranteed Income: Annuities can provide a predictable and guaranteed income stream, ensuring financial security in retirement.
• Flexible Payment Options: You can choose from various types of annuities, such as fixed or indexed annuities, each with its unique payment structure and risk profile.
• Tax Advantages: Annuities can offer tax-deferred growth, which means you pay taxes on the earnings only when you withdraw funds. This can lead to potential tax savings.
• Legacy Planning: Some annuities offer features to pass on remaining funds to beneficiaries, helping you leave a financial legacy.
• Protection from Market Volatility: Fixed and indexed annuities offer a level of protection from market downturns, providing stability and peace of mind.
• Income for Life: With a lifetime income annuity, you’ll receive payments for the rest of your life, protecting against the risk of outliving your savings.

***Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Fixed Annuities are designed to meet long-term needs for retirement income, and they provide guarantees against the loss of principal and credited interest, and offer the reassurance of a death benefit for your beneficiaries.