Annuities: Let's start with the basics. An annuity is an insurance contract issued by an insurance company.
An annuity contract has two phases: an accumulation phase and a distribution phase. During the accumulation phase, the contract owner makes a payment or payments into the contract in exchange for either a fixed or a variable rate of return that is not subject to income taxes until withdrawal, permitting the tax-deferred growth of the investment. During the distribution phase, the accumulated value of the annuity contract can be converted into a guaranteed income stream that can last for life or for a set period of time.
Annuities can be a key part of your overall retirement strategy – but they're not right for everyone.
Annuities
Fixed Annuities
Index Annuities
Guaranteed income