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Variable Annuities

An annuity is a contract in which an insurance company provides you with periodic payments for a period of time in exchange for your upfront investment. A variable annuity is a combination of an insurance and investment vehicle in which the insurance company agrees to make periodic payments to you for a pre-determined period of time, starting immediately, or if elected, at some point in the future. Depending on the agreement, payments could continue for the remainder of your life.   

Variable annuities may be useful in helping you prepare for a variety of retirement needs, including:

  • Retirement income*

  • Tax-deferred accumulation**

  • Estate protection

  • Pre- and post-retirement survivor benefits

  • The ability to invest for growth and income through asset allocation in a wide range of investment options.  Performance of the investment options will fluctuate such that it is possible to lose money

Whether variable annuities are right for you depends upon your specific needs and a number of other factors. Variable annuities carry benefits and risks, and involves fees and expenses. These factors should be considered in light of your stage in life, goals, and financial circumstances.

*Income stream based on claims paying ability of the issuing insurance company.

**Earnings will be taxed as ordinary income upon withdrawal and, if prior to age 59 1/2, a 10% IRS penalty may also apply. 

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