An annuity is a long term investment issued by an insurance company designed to help protect you from the risk of outliving your income. When you invest in an annuity, you set the stage to receive income in the future, subject to the terms, conditions and/or limitations of the insurance contract. Through annuitization, your purchase payments (what you contribute) are converted into periodic payments which can last a lifetime. Annuities can offer a low risk fixed investment over a period of time, typically 5+ years. Annuities we specialize in are either immediate, fixed or fixed index annuities.
With fixed annuities, the principal investment and earnings are both guaranteed and fixed payments are made for the term of the contract. Because an annuity is tax deferred, 100% of your purchase is invested.
An immediate annuity is typically purchased with a lump-sum and guaranteed income starts almost immediately. Your investment converts into a guaranteed stream of income that is irrevocable once payments begin.
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This special class of annuities yields returns on contributions based on a specified equity-based index, such as the S&P 500. Returns vary based on the securities index however these contracts offer a specified minimum which the contract value will not fall below, regardless of index performance.