An annuity is a financial contract between you and an insurance company that provides a guaranteed stream of income.
In exchange for a lump-sum payment or a series of payments, the insurance company agrees to make regular payments to you, either for a specific period or for the rest of your life.
Speak with a licensed insurance agent (561) 898-0076.
Guaranteed rate of return.
Payments remain stable, regardless of market.
Lowest risk.
Multi-Year Guaranteed Annuities (MYGAs):
A type of fixed annuity with a guaranteed interest rate for a specific number of years.
Offers predictable growth over the term.
Single Premium Immediate Annuities (SPIAs):
Convert a lump sum into immediate, regular income payments.
Designed for immediate income needs.
Fixed Indexed Annuities (FIAs):
Balance security (principal protected) with growth potential.
Interest linked to a market index's performance.
Deferred Income Annuities (DIAs):
You pay now, but income payments are delayed until a chosen future date.
Used for longevity planning to ensure income far into the future.
Registered Index-Linked Annuities (RILAs):
Offer more upside potential than FIAs, with a defined buffer against market losses.
Linked to a market index, but you bear some limited downside risk for greater growth potential.
Potential for higher returns, but more risk.
Payments fluctuate based on underlying investments.
Annuities can offer a number of benefits, including:
Guaranteed income: Annuities can provide a guaranteed stream of income in retirement, which can help you cover your living expenses.
Tax advantages: The earnings on some annuities are tax-deferred, which means you won't have to pay taxes on them until you withdraw the money.
Inflation protection: Some annuities offer inflation protection, which means your payments will increase over time to keep pace with inflation.
Annuities can be complex financial products, and there are some potential drawbacks to consider:
Fees: Annuities can have high fees, which can eat into your returns.
Liquidity: Your money may be locked up in an annuity for a certain period, which means you may not be able to access it easily if you need it.
Risk: Variable annuities carry investment risk, which means you could lose money if the underlying investments perform poorly.
Annuities can be a good option for people who:
Are approaching retirement and are looking for a way to generate guaranteed income.
Are concerned about outliving their savings.
Want to protect their retirement savings from market volatility.
If you are considering purchasing an annuity, it is important to work with a qualified financial advisor. A financial advisor can help you understand the different types of annuities available and choose the one that is right for you.