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What is an Annuity?

An annuity is a type of policy issued by an insurance company designed to accept and grow funds, and upon annuitization, create a stream of income or payments. Some plans are designed to provide you with a “guaranteed” lifetime income. The money you pay in can be either a lump sum or a number of payments. These contributions generally earn a rate of return and are generally tax-deferred.

Types of Annuities

Immediate Annuity

• An immediate annuity is an insurance product that gives the buyer a guaranteed stream of income in exchange for a lump sum of cash. Immediate annuities have several advantages, such as long-term stability, tax-deferred income, and monthly income payments for the rest of your life.
  

Deferred Annuity

• A deferred annuity is an insurance contract designed for long-term savings. Unlike an immediate annuity, which starts annual or monthly payments almost immediately, investors can delay payments from a deferred annuity indefinitely. During that time, any earnings in the account are tax-deferred.
  

Contact us to learn more about the right annuity for you.

Annuities provide guaranteed income for life

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