An annuity is a contract in which an individual agrees to pay premiums to an insurance company and receives, in exchange, a regular stream of income payments from the issuer either now or at some time in the future. Unlike many financial products available, an annuity can provide an income you can't outlive.

A Guaranteed Death Benefit: Generally, annuities also offer a death benefit. While the types of death benefits differ between products, annuities allow you to pass the proceeds of the contract directly to a named beneficiary, avoiding the delay and expense of probate.

Tax-Deferred Growth: An annuity is a long-term financial product where interest accumulates tax-deferred. Because you do not pay taxes on annuity assets until you access the proceeds in your contract, your money grows tax-deferred. As a result, you may be able to accumulate more money than a traditional taxable investment earning the same rate of return.

If you are planning for income streams in retirement, we can help determine how much your assets will provide. Guaranteed Income illustrations can be provided based on amount invested, deferral period, and the age when income starts. We can help you decide which option will fit your income needs.

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