Prepare for life at retirement and beyond

by Steve Wilson

 

an·nu·i·ty (-n-t, -ny-)

n. pl. an·nu·i·ties

  1. contract sold by an insurance company designed to provide payments to the holder at specified intervals, usually after retirement. The holder is taxed only when they start taking distributions or if they withdraw funds from the account. All annuities are tax-deferred, meaning that the earnings from investments in these accounts grow tax-deferred until withdrawal.  Annuity earnings are also tax-deferred so they cannot be withdrawn without penalty until a certain specified age. They are considered relatively safe, low-yielding investments. An annuity has a death benefit equivalent to the higher of the current value of the annuity or the amount the buyer has paid into it. If the owner dies during the accumulation phase, his or her heirs will receive the accumulated amount in the annuity.

An Annuity can help protect you against the possibility of outliving your financial resources in retirement. We offer several different options – all of which can be part of your personal retirement program.  Make the most of your life after retirement.

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