What is an
Annuity?
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are withdrawn, usually at retirement.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
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