Annuities
Secure Your Retirement by Ensuring a Lifetime of Financial Well-being
What is an Annuity?
An annuity is a financial contract provided by insurance companies or financial institutions designed to offer a reliable and regular stream of income to an individual over a specified period, often during retirement. In exchange for a lump-sum payment or a series of payments, the annuity provides periodic disbursements, which can be monthly, quarterly, annually, or at another agreed-upon interval.
What are the benefits of Annuities?
- Steady Income
- Tax Benefits
- Retirement Planning
- Flexibility
What are the types of Annuities?
Fixed Annuities
Fixed annuities offer an assured interest rate for a specified period, providing stable growth. Your investment is safeguarded, making fixed annuities a popular choice for individuals seeking a secure source of retirement income.
Variable Annuities
Variable annuities provide flexibility for you to invest in a range of sub-accounts, such as stocks and bonds. The returns are based on the performance of these investments, providing potential for higher growth but with some level of risk.
Immediate Annuities
Immediate annuities start providing regular payments almost immediately after a lump-sum payment. This can be an ideal option for those looking to convert a portion of their savings into a guaranteed income stream without delay.
Deferred Annuities
Deferred annuities enable you to accumulate funds over a specific period, often during your working years. Once you're ready to retire, the annuity begins to provide regular payments to support your post-retirement lifestyle.
Fixed Annuities
Fixed annuities offer an assured interest rate for a specified period, providing stable growth. Your investment is safeguarded, making fixed annuities a popular choice for individuals seeking a secure source of retirement income.
Variable Annuities
Variable annuities provide flexibility for you to invest in a range of sub-accounts, such as stocks and bonds. The returns are based on the performance of these investments, providing potential for higher growth but with some level of risk.
Immediate Annuities
Immediate annuities start providing regular payments almost immediately after a lump-sum payment. This can be an ideal option for those looking to convert a portion of their savings into a guaranteed income stream without delay.
Deferred Annuities
Deferred annuities enable you to accumulate funds over a specific period, often during your working years. Once you're ready to retire, the annuity begins to provide regular payments to support your post-retirement lifestyle.
Selecting the right annuity requires careful consideration of your financial goals, risk tolerance, and retirement plans. At Legacy Wealth & Health LLC, we are committed to guiding you through the annuity options, helping you make informed decisions to secure a financially stable and worry-free retirement.