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Understanding Annuities

Take charge of your retirement plan with an annuity.

Simply put, annuities are long-term retirement savings vehicles issued by insurance companies. They're designed to help investors accumulate money, take retirement income, and transfer wealth to heirs.

Benefits of annuities

When you're ready to turn your investments into retirement income, annuities let you choose whether to take your payments for a set time period or for life.

Adding an annuity into your retirement portfolio helps you:

  • Choose from a variety of income options.
  • Enjoy tax-deferred growth potential so your savings can add up faster.
  • Create a personalized solution for accumulating savings, taking income in retirement and passing on money to your heirs.

Types of annuities

Annuities can be categorized by type of investment or main purpose.

Annuities by type of investment

  • Variable annuities are valuable long-term investment products. They offer a variable rate of return that corresponds to market trends.
  • Fixed annuities are solid, principal protected investment products that provide a fixed rate of return on your investment.

Annuities by main purpose

  • Deferred annuities are used to accumulate wealth over time.
  • Immediate annuities provide immediate and steady income

Working with a financial professional

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Get variable annuity information

Variable annuities involve risk, including possible loss of principal, and are not guaranteed.

All guarantees are based upon the claims paying ability of the issuing insurance company and do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.

Product and rider availability including any related fees and expenses may vary by state and financial professional affiliated companies. Click here for important information about the annuity products including features and benefits.