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Life & Health coverage

Annuities

An annuity turns a lump sum or years of contributions into guaranteed income, often for the rest of your life — filling the gap left as traditional pensions disappear and retirements grow longer. It becomes important as you near retirement and worry about outliving your savings, offering a paycheck you can count on no matter how the markets move.

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Who this coverage is for

An annuity is for people who want a dependable stream of income, often in retirement, and worry about outliving their savings. In simple terms, it's a contract with an insurance company: you put in money now, and it pays you back over time \u{2014} sometimes for the rest of your life.

What it can help protect

Annuities are built to turn savings into steady income and can help protect:

  • Your retirement income \u{2014} provides regular payments you can count on, potentially for life.
  • Against outliving your money \u{2014} some options guarantee payments no matter how long you live.
  • Your savings growth \u{2014} money inside many annuities grows tax-deferred until you withdraw it.
  • Your peace of mind \u{2014} adds a predictable paycheck alongside Social Security and other savings.
Regularly misunderstood coverages
Fixed vs. Variable vs. Indexed Annuities

How the three annuity types actually differ.

Key choices and underwriting factors

A licensed review will usually focus on immediate vs deferred concepts, fixed/indexed categories at a high level, and income start dates and withdrawal preferences.

Common Questions