Annuities

An annuity is an insurance contract issued and distributed by financial institutions and bought by individuals. An annuity requires the issuer to pay out a fixed or variable income stream to the purchaser, beginning either at once or at some time in the future. An annuity has two phases - the accumulation phase and the payout phase. During the accumulation phase, the annuitant will fund the annuity, with either a lump-sum payment or periodic payments. After the accumulation phase the annuitant receives payments for either a fixed period or the rest of their lives.

Talk to us to learn about different annuity options and what is best for you!