Annuities and Your Retirement

Annuities are insurance products. When you pay premium into an annuity, the insurance company that issued your annuity will make a stream of payments back to you later. In fact, you can receive annuity payments every month, quarter or year. You may even choose the disbursement to be issued to you in a lump sum. Annuities are tax-deferred. Furthermore, the amount that you receive is based upon your payment period selection as well as the annuity’s value.

The two main annuity options are immediate and deferred. If you select the immediate option, then you will begin receiving payments right away or within one year of the issuing date. The deferred contribution option features two phases. The first phase is the accumulation stage. The second phase is the payout stage, and when you arrive at this point, you’ll start to receive the annuity’s planned payments.

You can also choose from several different types of annuities, which include fixed annuities, and fixed index annuities. With a fixed annuity, the insurance company will agree to pay you a specified interest rate during the growing phase of your annuity.

In a fixed index annuity, you have the potential to earn interest based on upward shifts in one of the market’s indexes, without participating in the market. Your annuity is protected and will not lose value even if the market goes down.

Be sure to research all annuity types before you agree to a policy. By managing your retirement income, you can help make sure that your funds grow enough to cover your future needs.

Your annuity should be carefully selected by you and a qualified and licensed insurance agent. Visit to get started on a retirement income plan that works with your budget, while helping to prepare you for your financial retirement needs.

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Annuity guarantees rely on the financial strength and claims-paying ability of the issuing company, and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.