The Basics of Annuities

Why Annuities Matter

Annuities offer a powerful solution to one of the biggest retirement concerns — outliving your savings. With guaranteed income for life, you gain the freedom to plan confidently, meet your goals, and enjoy peace of mind. Plus, you’ll have flexible access to your money when you need it.

Is an Annuity Right for You?

You're approaching or already in retirement

If you’ve built your savings and now need consistent income, an annuity can provide a reliable monthly payout for life.

 

You want to reduce tax liability on your investment growth

By deferring taxes on earnings until withdrawal, annuities help you grow your funds more efficiently.

You're looking for a smarter alternative to traditional savings

Annuities can offer higher return potential than standard certificates of deposit, giving your money more room to grow.

Two Primary Types of Annuities

Income Annuities

These annuities provide a steady, guaranteed* income stream that lasts for life. They’re ideal if you’re retired or nearing retirement and want a predictable flow of payments to support your lifestyle and expenses. Best for: Those seeking immediate, dependable retirement income.

Deferred Annuities

Designed to help you grow your retirement savings over time. You invest now and defer withdrawals until later, allowing for tax-deferred growth and potentially higher returns. Your funds remain protected and never decline in value.Best for: Those planning ahead and looking to build wealth over time.

What Annuities Can Offer

Steady and Predictable Income

Annuities offer a reliable income stream that helps you confidently plan for retirement—no matter how long you live.

Tax-Deferred Growth

Your money can grow without being taxed until you start withdrawing, which can help reduce your tax burden and maximize growth.

Flexible Payment Options

Choose how often you want to receive payments—monthly, quarterly, or yearly—based on what fits your lifestyle.

How You Can Use Your Annuity Payments

Your annuity income is yours to control. Many people choose to use their payments for:

Cover daily living expenses

Boost your retirement or Social Security income

Support a grandchild’s education

Make charitable donations

Purchase other insurance products

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