Annuities
What is an annuity?
Annuities are designed to help you grow your retirement income. They’re long-term contracts from an insurance company where you invest your money. In return for your investment, you get income in the form of regular payments.
Types of annuities
There are several types of annuity products available to choose from. Whether you’re looking for income options, legacy planning tools or spousal protection, your financial professional can tailor a plan to meet your specific goals.
The 4 types of annuities
- Immediate annuities: The lifetime guaranteed option.
- Deferred annuities: The tax-deferred option.
- Fixed annuities: The lower-risk option.
- Variable annuities: The potentially highest upside option.
Benefits of annuities
Provides an alternate way to save
An annuity can help you save additional money for retirement once you've maxed out other tax-favored investments.
Lets you catch up
Annuities can help you catch up on retirement savings when you have less time to save.
Offers growth potential
Annuities offer potential for tax-deferred growth and an income stream for life.
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