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.