Financial Annuities for Retirement.
Consider an annuity1 for steady income payments for life.
Before you retire, you count on a steady paycheck to pay the rent or mortgage and to take care of your needs, big and small. Wouldn’t it be nice to keep a monthly payment during retirement for as long as you live? You may need the security of regular income during your retirement, which could last as long as 20 or 30 years. Purchasing an annuity might be the right answer for you because it can give you the control over how long the annuity is invested, when you receive your benefits and how often you are paid. Talk to an Personal Financial Representative to learn more about annuity options or get a simple explanation below to help you decide which type of annuity might be right for you.
Annuities At A Glance
- Annuities can provide regular retirement income that will last.
- You choose to receive annuity payments for a set time or for life.
- You don’t pay taxes until you receive annuity payments.
Get to know how an annuity works.
- How It Works: An annuity is a contract between you and an insurance company. The insurance company invests your money for you, and depending on your contract and the selections that you make, an annuity may be able to provide a regular source of income that you do not outlive.
- Tax Advantages: Earnings on annuities are not taxed until withdrawn from the contract, making annuities an attractive savings option for retirement.2
- Income Payments: Annuities are a great way to help supplement what you currently have coming to you-through pensions, Social Security, savings-and what you’ll actually need to live.
- Payment Period: Depending on the type of annuity you choose, your payments can last for a set period of time or for the rest of your life. With some annuities, the income can be extended to your spouse after you die.
We offer four types of annuities that can help your retirement savings grow:
- Immediate Annuity. An investment choice that can offer you income options right away.
- Fixed Annuity. A choice with less risk that guarantees a fixed interest rate over a specific time period.
- Index and equity linked Annuity. A moderate to higher risk choice that offeres the potential to accumulate income. Interest is linked to a market index
- Variable Annuity. A higher risk option with greater growth potential that provides the opportunity for your money to earn a variable rate of return based on market performance.