Annuities can help address one of your fundamental concerns: Outliving your savings. They offer you guaranteed lifetime income payments*, which may give you freedom to fulfill your retirement dreams and help with your financial peace of mind. They also give you flexibility to use your cash however you choose.
The Value of Annuities
What annuities can offer
Guaranteed, reliable income*
One of the most difficult problems in retirement is determining how much income you’ll need. Annuities provide reliable income that you can use however you wish.
Taxes on annuity earnings are deferred until you begin taking money out***. That may help you minimize the amount of tax you pay.
Flexible income options
Everyone’s situation is different. Annuities offer income options and choice of frequency so you can select what’s right for you.
How annuity payments can be used
How you use your annuity payments is up to you. Many people use the money to:
Pay everyday living expenses
Supplement Social Security payments or other income sources
Fund a grandchild’s education
Contribute to charity
Purchase other insurance products
* Guarantees are subject to the claims-paying ability of the issuing insurance company.
** Consult with a professional tax and/or legal advisor before taking any action that may have tax or legal consequences.
*** Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and if taken before age 59 1/2 may be subject to a 10% IRS penalty.