For most people, reaching the goal of comfortable, independent retirement depends on making their money work as hard as they do.

 

Annuities can be solid financial vehicles that can help provide for your future security. By definition, an annuity is a long term financial contract sold by an insurance company which promises to provide a specified series of payments to an individual for a fixed period, often for the lifetime of the recipient, in return for a stipulated lump sum premium or a series of premiums. An annuity is tax-deferred until distribution* and can be used for accumulating money for retirement or other long term future needs. 

 

*Distributions taken before age 59½ can result in a 10% tax penalty

 

For more information on annuities, please see our Annuity FAQ.