An annuity is a financial product offered by an insurance company, designed to provide periodic (usually monthly) payments to a person, either for a specific period or for the remainder of their life.

Types of annuities:

Immediate annuity: Pays out shortly after the initial investment is made.

Deferred annuity: Pays out at a future date, allowing the money to grow sooner.

Fixed annuity: Offers regular payments of a fixed amount.

Variable annuity: Payments can vary based on the performance of the underlying investments.

Indexed annuity: Linked to a financial index, such as the S&P 500, it offers a balance between risk and return.

What is an annuity for?

Retirement income: Many people purchase annuities to guarantee income in retirement.

Longevity risk protection: Ensures you don't run out of money if you live longer than expected. Tax Deferral: Annuity earnings are not taxed until withdrawn.

Important Information:

Early withdrawal fees may apply.

Some annuities offer an unconditional surrender clause for a limited period (for example, 10 days).

These are not suitable for everyone; we recommend reviewing the contract carefully and consulting with a financial advisor if necessary.

Interested in learning more about a specific annuity, such as retirement annuities or those used in insurance?

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What is an Annuity ?