An annuity is long-term retirement product that can help protect you against the risk of outliving your assets. It is a contract between you and an insurance company: you receive future income in return for your contributions.

Any earnings on contributions are tax-deferred until they are withdrawn, usually at retirement. You may receive income in a number of ways, including payments that will last for as long as you live. Annuities can be a valuable addition to your retirement plan.

Annuities may help you:

  • Receive retirement income payments for as long as you live
  • Protect beneficiaries with a death benefit
  • Diversify your investments
  • Provide an opportunity for growth on a tax-deferred basis
  • Avoid outliving your assets

Types 

Key Features 

Fixed Annuities Safety, stability and guarantees
  • Tax-Deferred Growth
  • Guaranteed Principal, Interest and Renewal Rates
  • Benefits to Spouses and Beneficiaries
Immediate Annuities Regular income now and for life
  • Regular Payments
  • Distribution Options
  • Choice of Contract Types
  • Tax Benefits
  • Postponement of Taxes
  • No Withdrawals
Variable Annuities Growth Potential from Investment Portfolios
  • Tax Benefit to Help Protect Beneficiaries
  • Death Benefit

 

Employer-Sponsored Retirement Plans 
  • Offered through employers
  • Available for educators and employees of non-profit organizations

Withdrawals from annuities are subject to normal tax treatment and if taken prior to age 59 1/2 may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to a contractual withdrawal charge.

Please consider the charges, risks, expenses, and investment objectives carefully before purchasing a variable annuity. For a prospectus containing this and other information, please contact a financial professional. Read it care fully before you invest or send money.

An annuity contract that is purchased to fund an employer-sponsored plan should be done so for the annuity's features and benefits other than tax deferral. For such cases, tax deferral is not an additional benefit for the annuity. You may also want to consider the relative features, benefits and costs of this annuity with any other investment that you may have in connection with your retirement plan or arrangement.