Annuities

Annuities are for people, mostly retirees, who have a lump sum of money and would like to use it to ensure a guaranteed income from that money over an extended period of time. Whether you’ve saved the money over the years, have a pension, have won the lottery, or received a legal or insurance settlement, an annuity allows you to earn interest on your money while still receiving a dependable income. Depending on your choice, you may be able to pay less income tax on the payments you receive through an annuity instead of receiving a lump sum. Annuities come in a variety of different types including:

• Guaranteed Life Annuities
• Term-Certain Annuities
• Impaired Annuities
• Structured Settlements

Payments based on

Payments to you are based on your initial contribution (principal) and the number of payments you wish to receive over a set period of time. If you choose additional options such as life annuities or survivor continuation, this will also affect your payment amounts.