Last Updated on December 28, 2024
An annuity is a contract between an individual and an insurance company, where the individual pays a premium or series of premiums in exchange for a guaranteed income stream.
Types
Variable annuities. Stay invested in the market with the potential to grow your retirement savings and receive guaranteed income
Fixed annuities. Lock in a guaranteed, competitive rate of return; any interest you earn is tax-deferred.
Indexed annuities. Opportunity for growth based on positive performance of a market index, and potential protection when index performance is negative.
Income annuities. Get guaranteed monthly income for the rest of your life—immediately or at a future date you select.