Annuities/I.R.A

Annuities are an important aspect to the future of your financial stability and offer protection against economic downturns and irregular earning periods. They are an attractive option for retirees or soon to be retirees because they offer a steady source of income as a supplement to their regular earnings. Annuities can be paid out over a predetermined amount of time or over the period of one’s life.

Types of annuities:

Deferred – A deferred annuity is typically a longer term retirement planning strategy. The investor makes payments to the annuity for a significant period of time before making any withdrawals. The investment accumulates as payments are made.

Immediate – An immediate annuity plan will make payments to you short after your first investment. As you approach retirement and have not contributed to an annuity, this option may be good for you. If you have a deferred annuity, it will be converted into an immediate when you decide you receive payments from it.

Within these two annuities, they are either fixed or variable. A fixed annuity is a popular choice for retirees as it offers a set-income stream for a predetermined period of time. A variable annuity allows you to choose from a variety of investments and pays you out depending on the success of those investments.

Contact a dedicated representative to learn more about annuities and other financial services offered by Stateline Insurance Solutions.