Getting Started
A predictable way to plan for retirement
How
You pay a premium to an insurance company. With a fixed deferred annuity, the insurer credits interest to your contract while you save for the future. You can generally leave the money to grow or, if the contract allows, choose an income payment option later.
An immediate fixed annuity works differently: income payments typically begin soon after you purchase the contract. The right choice depends on when you need income and how much access you want to keep to your money.
Benefits
Consideration
Fixed annuities are generally designed for longer-term goals. Many contracts have a surrender period, during which withdrawals above any permitted amount may trigger charges. Withdrawals can also have tax consequences. Rates, income choices, fees, and access to funds vary by contract.
An annuity’s guarantees depend on the issuing insurance company’s ability to meet its obligations. We’ll walk through those details with you so you can see how a contract would fit alongside your other savings and income sources.
FAQ's
Is a fixed annuity the same as a CD?
No. A fixed annuity is an insurance contract; a CD is a bank deposit. They have different rules for interest, withdrawals, taxes, and guarantees. We can help you compare them based on how long you plan to keep the money.
Many contracts allow withdrawals, but limits and surrender charges vary. It is important to review the contract’s withdrawal provisions before you commit funds you may need soon.
Will my interest rate stay the same forever?
That depends on the contract. Some rates are guaranteed for a stated period and may change afterward, subject to the contract’s minimum guarantee. We’ll show you both the initial rate and what the contract guarantees later.
Review
You deserve to know how your retirement income options work before making a decision. Contact us to review your goals, ask questions, and explore available fixed annuity options.