Annuities

An insurance contract designed to provide retirement income for as long as you live.

TYPICALLY, ANNUITIES OFFER:

• Tax Deferred growth – savings grows tax-deferred and your tax bills aren’t impacted until withdrawals are made.
• Lifetime Income – There are several options for taking income, including an income stream for life.
• Death benefits –Your savings can be transferred to beneficiaries.
• Flexibility – you can meet your individual needs by customizing your contract’s investment allocation and withdrawal options

TYPES OF ANNUITIES

Immediate Annuity

An immediate annuity you begin to receive payments soon after you make your initial investment. For example, you might consider purchasing an immediate annuity as you approach retirement age.

Fixed Annuity

An insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principles.

Variable Annuity

A VA is a tax-deferred retirement vehicle that allows you to choose from a selection of investments, and then pays you a level of income in retirement that is determined by the performance of the investments you choose. Compare that to a fixed annuity, which provides a guaranteed payout.