What are Annuities?

Annuities are an important part of retirement and investment plans, designed to help your assets grow and provide a steady stream of income when you decide to retire. An annuity is an agreement between you and an insurance company, where you accumulate your funds in a tax advantaged manner and can later receive a series of payments provided by the insurance company for a determined period of time, either a number of years or for life, beginning right away, or in the future, whatever your needs are.

If you are in a saving-money stage of life, annuities can help you:

  • Meet your retirement income goals.
  • Manage and diversify your investment portfolio.
  • Have different options.
  • Benefit your heirs.
  • Plan your estate.

If you are in a need-income stage of life, annuities can help you:

  • Have a lifetime income.
  • Protect against outliving your assets.
  • Protect your assets from creditors.
  • Diversify investment risk.
  • Tax deferral on investment earnings.

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