Annuities
Annuities and Why You May Need One
An annuity is a financial product offered by insurance companies that provides a steady stream of income, typically during retirement. You make a lump-sum payment or a series of payments, and in return, the insurer agrees to pay you a regular income either immediately or at a future date. Annuities are designed to help manage longevity risk—the chance of outliving your savings. They can provide guaranteed income for life, protect your principal, and offer tax-deferred growth. Some annuities also include features like death benefits for beneficiaries or options for inflation protection.
Why You May Need an Annuity:
- Guaranteed Lifetime Income: Ensures you won’t outlive your money.
- Tax-Deferred Growth: Earnings grow without being taxed until withdrawn.
- Peace of Mind: Reduces worry about market fluctuations or running out of retirement funds.
- Customizable Options: Tailor benefits such as spousal protection or long-term care riders.
Annuities can be a valuable part of a well-rounded retirement strategy, especially for those seeking financial security and predictable income.
A Supportive, No-Pressure Experience
If you’re exploring retirement coverage or supplementing your Medicare benefits, we’re happy to talk with you about whether annuities could fit into your picture. Our job is to give you clear, easy-to-understand information so you can make informed decisions.
