People are living longer. More time and savings will be spent in retirement.
If you need a tax-deferred investment to provide a guaranteed stream of income
for life or a specified number of years, it might be worth considering an annuity.
An annuity is a contract between an insurance company and an annuity owner.
In exchange for a purchase payment, or series of payments,
the insurance company guarantees1 to pay a stream
of income in the future.
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An immediate annuity is usually purchase with a single premium and begins a stream of income within the first 12 months from the date of issue. You decide when the payments will begin within that period and how long to receive income.
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A differed annuity is specifically designed to help accumulate assets for retirement. It also offers the ability to turn those assets into a guaranteed stream of income at some point in the future. You decide when payments begin and how long to receive payments.
