Annuities

What Is It?

An annuity is a financial product offered through an insurance company that can help create a reliable stream of income during retirement. Think of it as a way to turn a portion of your retirement savings into predictable income that can help support you throughout your retirement years.Many people use annuities to supplement Social Security, retirement accounts, pensions, and other investments. Depending on the type of annuity you choose, income can begin immediately or at a future date.The primary goal of an annuity is simple: helping ensure your money lasts as long as you do.

 

Who Is It For?

Annuities can be a valuable option for:

• Pre-Retirees-Individuals who are actively saving and planning for retirement.

• Retirees-People who want a dependable income stream to help cover monthly expenses.

• Conservative Investors-Those looking for protection from market volatility and more predictable growth.

• Individuals Without a Pension-People seeking to create their own source of guaranteed retirement income.

• Long-Term Savers-Those looking to preserve assets while generating future income.

• Couples Planning Together-Spouses who want added confidence that income will continue throughout retirement.

• Individuals Concerned About Outliving Their Money-Anyone who wants additional income security as life expectancy increases.

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Why Do I Need It?

One of the biggest retirement challenges is making sure your savings last through your entire lifetime.

Create Predictable Retirement Income. Annuities can provide regular income payments that help cover:

•Housing expenses

•Utilities

•Groceries

•Healthcare costs

•Everyday living expenses

•Reduce Retirement Income

•RiskMarket downturns can significantly impact retirement accounts. Certain annuities provide protection from market losses while still allowing growth opportunities.

•Help Supplement Social Security-Many retirees find that Social Security alone may not cover all their retirement expenses.

 

An annuity can help bridge that gap.Gain Peace of MindKnowing a portion of your income is predictable can make retirement planning much less stressful.Protect Against Longevity RiskPeople are living longer than ever. Annuities can help address the risk of outliving your savings.

 

Customizations & Options

Annuities come in several forms, allowing us to help match your retirement goals, risk tolerance, and timeline.

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• Fixed Annuities-Provide:

  • Guaranteed interest rates

  • Stable growth

  • Predictable income

Protection from market volatility-Best for individuals seeking safety and consistency.

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• Indexed Annuities-Offer:

  • Growth tied to a market index

  • Principal protection from market losses

  • Potential for greater returns than traditional fixed products

Best for those seeking growth potential with reduced risk.

 

• Variable Annuities-Provide:

  • Market-based investment options

  • Greater long-term growth potential

  • Flexible investment allocations

Best for investors comfortable with market fluctuations.

 

• Immediate Annuities-Convert a lump sum into income payments that begin almost immediately.

Best for retirees who want income now.

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• Deferred Annuities-Allow money to grow over time before income payments begin later.

Best for individuals still preparing for retirement.

 

• Lifetime Income Options-Certain annuities can provide income that continues for life, regardless of how long you live.

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• Spousal Income Options-Coverage may be structured to help provide income for a surviving spouse.

 

How Much Does It Cost?

The cost of an annuity depends on several factors, including:

•The amount you contribute

•Type of annuity selected

•Income options chosen

•Your age

•When you want income to begin

•Additional guarantees or features selected

 

Unlike traditional insurance, annuities are often funded by:

•A lump-sum deposit

•Transfers from retirement accounts

•Ongoing contributions

Our advisors can help compare options and build a strategy that aligns with your retirement goals and budget

 

Scenarios & Benefits

You're Concerned About Outliving Your Savings-You retire at age 65 and want confidence that you'll continue receiving income throughout retirement.

Benefit: A lifetime income annuity can provide predictable income payments regardless of how long you live.

Market Volatility Makes You Nervous-You're approaching retirement and don't want all of your savings exposed to market fluctuations.

Benefit: Fixed and indexed annuities may provide growth opportunities while helping protect your principal.

You Don't Have a Pension-You've saved diligently through workplace retirement plans but want an additional source of dependable income.

Benefit: An annuity can help create a personal pension-like income stream that supplements Social Security.

Retirement Is Still Several Years Away-You're ten years from retirement and want to continue building retirement assets.

Benefit: A deferred annuity allows your funds to grow while you're still working and can provide income later.

You Want Income for Both Spouses-You want confidence that retirement income continues after the first spouse passes away.

Benefit: Joint income options may provide continuing income for a surviving spouse.

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Retirement Income You Can Count On.

Retirement should be about enjoying the life you've worked hard to build—not worrying about whether your savings will last. We help individuals and families explore annuity options that provide income, stability, and confidence for the future. Whether you're approaching retirement or already enjoying it, our team can help you create a strategy built around your goals, your timeline, and your vision for retirement.

 

Basic Definitions

Annuity-A financial contract with an insurance company designed to provide future income and retirement security.

Premium-The money contributed into an annuity contract.

Fixed Annuity-An annuity that provides a guaranteed interest rate and predictable growth.

Indexed Annuity-An annuity whose growth is linked to a market index while offering protection from market losses.

Variable Annuity-An annuity that allows investment in market-based options that can fluctuate in value.

Immediate Annuity-An annuity that begins making income payments shortly after funding.

Deferred Annuity-An annuity that accumulates value before income payments begin.

Lifetime Income-Income designed to continue for the rest of your life.

Beneficiary-The person or persons designated to receive benefits after the annuity owner's death.

Principal Protection-A feature intended to help preserve your original investment from market losses.