Are annuities right for you?
An annuity is a long-term contract between you and a life insurance company designed to help you grow your retirement income. The primary benefits of buying an annuity include principal protection, tax advantages, the potential for guaranteed lifetime income, and the option to leave money to your beneficiaries.
There are many annuity types available today, with different features, benefits, and costs. Please always look for professional advice to ensure that certain investments are right for your personal situation.
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Three Main Annuity Types
FIXED – Protects your principal from market downturns and offers a fixed interest rate for growth and guaranteed monthly payments.
FIXED INDEX – Protects your principal from market downturns and offers a minimum crediting rate with the potential for additional interest based on market indexes and guaranteed monthly payments.
VARIABLE – Offers the potential to grow your money through various market investments but with the potential for market loss and the option of receiving guaranteed monthly income payments.
DEFERRED – You delay receiving monthly income payments to a future date, giving your money in the account time to grow.
IMMEDIATE – Monthly income payments begin shortly after purchasing the annuity.
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