Annuity
Financial product designed to provide a steady income stream, typically used for retirement planning. It is a contract between an individual and an insurance company, where the individual makes a lump sum payment or a series of payments in exchange for future periodic disbursements.
Lifetime and fixed-period payments
Immediate Annuity
Begins payments almost immediately after a lump sum deposit.
Deferred Annuity
Payments start at a later date, allowing investments to grow tax-deferred
Indexed Annuity
Earnings are linked to a market index but with some downside protection.
Fixed Annuity
Provides guaranteed payments with a fixed interest rate.
Make lump sum payment or a series of payments in exchange for future periodic disbursements.
Guaranteed Income – Provides a steady income stream, often for life.
Tax Deferred Growth – Earnings grow tax-free until withdrawal.
Market Protection – Fixed and indexed annuities shield you from stock market risks.
Inflation Protection (Optional) – Adjusts payments to keep up with inflation. Annuities shield you from stock market risks.
Flexible Payout Options – Choose lifetime, fixed-term, or joint payments.
Contribution Limits – Invest as much as you want.
Death Benefits – Some annuities allow beneficiaries to inherit funds.
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