What is an annuity?

An annuity is a contract between you (the annuity owner) and an insurance company. In return for your payment, the insurance company agrees to provide either a regular stream of income, the right to withdraw up to a certain percentage per year, or even a lump sum payment at some future time (generally, once you retire or pass age 59 1/2).

Is an annuity suitable for me?

For some, annuities can complement a total retirement income strategy to supplement other sources of money during retirement. Annuities have advantages such as allowing you to pay in unlimited premiums and they grow compound tax-deferred. (Upon withdrawals,** you will pay taxes on interest earned and the principal if the annuity was purchased with pre-tax dollars.) However, annuities are not for everyone.

What are the different types of annuities?

There are different types of annuities to meet the specific needs of individual retirees and pre-retirees. Annuity FYI can help simplify the selection process.

The Annuity Qualifier

Help me determine which may be the best annuity for my financial situation.

Retirement Self Assessment

What type of retiree or pre-retiree are you? Take this self-assessment consisting of ten statements designed to help you decide what may be the best use of your retirement dollars.

 

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ANNUITY BASICS

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ARTICLES & GUIDES

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