Annuities
Annuities are contracts that pay out invested funds in a fixed income stream.
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How Do Annuities Work
- During the accumulation phase, the annuity is funded before payouts begin.
- Money invested in the annuity grows tax-deferred during this phase.
- During the annuitization phase, the owner of the annuity begins to receive payments from their annuity investment
Benefits Of Annuities
- Steady income that can be used to sustain a quality standard of living.
- Annuities grow on a tax-deferred basis.
- There are different types of annuities to choose from, some offering higher growth potential.
Types of Annuities
- Fixed Annuities – Provides regular periodic payments to the contract holder.
- Variable annuities – Allows the contract holder to receive larger payments if investments of their annuity fund perform well.
- With variable annuities, you may receive smaller payments if investments do poorly.