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.

Annuity Checklist

You want to be well-informed to put your money to work in the best way for your situation. Annuity FYI suggests that, prior to making a purchase decision about an annuity, you consider some ideas about the product, the insurance company behind it, and the licensed professional selling it.

Annuity Warnings

Annuity FYI regularly publishes warnings about potential pitfalls in purchasing an annuity. Read this before you purchase!

Annuities: Find The Right One For You

What type of annuity might best suit your situation? This guide explains the main types of annuities and identifies what to look for in each.

 

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** Withdrawals are subject to income tax and prior to age 59 1/2 a 10% federal penalty tax may apply.

ANNUITY BASICS

Immediate Annuities Meet A Variety of Needs

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A Fixed Annuity Might Be Best For You

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Fixed Indexed Annuities Help Empty Nesters Revamp Retirement Plan

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No-Return Deferred Income Annuities Greatly Increase Payouts

Deferred income annuities have skyrocketed in popularity over the past couple of years because of their affordable guarantees and their increasing use as QLACs in defined contribution plans. There is a new trend with deferred income annuity products...

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Why Fixed Annuities Work In Financial Plans

As we near the end of January, many New Years resolutions have fallen by the wayside or have yet to be started. Taking a good look at your finances and making any necessary changes is one resolution that should not …

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Annuity Information Abounds Online

There is a wealth of information online to support people interested in purchasing annuity products, as well as the brokers and advisors who sell them. In this advanced technological time, online tools are crucial to the annuity industry and help...

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ARTICLES & GUIDES

Fixed Indexed Annuities Help Empty Nesters Revamp Retirement Plan

Fixed Indexed Annuities Help Empty Nesters Revamp Retirement Plan

Many parents with older children count down the years until their nest is empty and all of their

Want To Be More Confident About Your Retirement? Consider An Annuity.

Want To Be More Confident About Your Retirement? Consider An Annuity.

The LIMRA Secure Retirement Institute recently published a review entitled Improving Retirement One

Millennials Are Behind In Retirement Planning

Millennials Are Behind In Retirement Planning

Millennials are facing unique financial challenges because the fallout from 9/11, the Great