FAQ’s About Annuities

What is a fixed annuity?
A fixed annuity is a retirement vehicle with earnings that are based on a guaranteed minimum interest rate. Fixed annuities can be some of the safest and most secure financial products available to help prepare for your retirement. Increases in value accumulate on a tax-deferred basis until you take a withdrawal or income payment. Income payments can be taken over the course of your life or for a set period of time. Types of fixed annuities include deferred, immediate, bonus, and equity-indexed.

What is an immediate annuity?
Immediate annuities come with a guaranteed minimum interest rate. With an immediate annuity, you can typically take income payments right away. Payments are taxed as income.

What is a multi-year guarantee annuity?
Multi-year guaranteed annuities typically offer a higher fixed yield than many other annuity products. You can also choose between a one-year rate and a multi-year rate guarantee structure. Multi-year guarantee annuities help ensure that you will have a specific amount of money in the future, without linking to a market index.

What is an equity-indexed annuity?
Equity-indexed annuities come with a minimum interest rate. With an equity-indexed annuity, you have the opportunity to enhance your retirement income by participating in an insurance product that is linked to the performance of a stock market index with the premium protected against market index risk. The gains from market index participation are tax-deferred until you take a withdrawal or an income payment.

What is the accumulation phase?
During the accumulation phase, your money will grow, tax-deferred, as you invest your assets in a wide variety of investment options. You only pay taxes when you take withdrawals.

Can I make changes to my investment options?
Yes. Contact your financial professional to make changes to your investment options or to transfer funds to additional investment options.

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