Annuities
Annuities are financial tools that can be used for receiving potential guaranteed income in retirement. Various types of annuities let you choose which benefits matter most and how often you are paid. All are tax-friendly, meaning you don’t pay taxes on them until you receive your annuity or income payments, which are usually when you’re in retirement and could be taxed at a lower rate. We offer a variety of solutions from leading financial service providers, so you have many options when deciding what type of annuity is right for you.
How Annuities Work:
Learning more about annuities can help you understand what options are available to you. We can answer questions you have about the following features:
· Lasting income: An annuity is a contract between you and an insurance company. They invest your money and provide a regular source of income so that you can receive a paycheck for life, depending on the contract selections you make.
· Tax advantages: Your earnings are not taxed until withdrawn. This means that when you typically start receiving your annuity or income payments, they could be taxed at a lower rate, making annuities an attractive savings option for retirement.
· Variable payment periods: You can structure your annuity so that you can get a paycheck for life or for a set period of time. With some annuities, income can be extended to your spouse after you die.