Annuities & Retirement Income
Annuities can help transform what you’ve saved into dependable income for retirement. We’ll walk through whether — and how — an annuity might fit your bigger picture.
How We Help
An annuity is a contract with an insurance company: you set money aside — as a lump sum or over time — and in return the insurer commits to paying you income, either starting right away or at a future date you choose. Used well, it can take the question of “will my money last?” off the table for a portion of your retirement.
Know Your Options
“Annuity” covers several very different products. Understanding the differences is the first step to knowing whether one belongs in your plan.
The insurance company pays a set interest rate for a set period — simple and predictable. Your principal does not decline with the market, which makes fixed annuities appealing for money you cannot afford to put at risk.
Interest is credited based in part on the performance of a market index, with protection from market losses. You give up some upside in exchange for that downside protection. The crediting rules matter — we walk through them line by line.
Designed to do one job: turn a sum of money into a stream of income payments — starting immediately or deferred to a future date — that can be structured to last as long as you live.
Long-Term Care Planning
Most of us will need some form of long-term care — help with everyday living like bathing, dressing, meals, or mobility — whether at home, in assisted living, or in a facility. Health insurance and Medicare generally do not cover extended custodial care, and the cost can unravel even a well-built retirement plan. Planning early gives you more options and more control. There are two main ways to prepare:
A dedicated policy that pays benefits when you need help with daily living. You choose the benefit amount, how long it pays, and any inflation protection. It is purpose-built protection — and qualifying is easier and more affordable the earlier and healthier you apply.
Certain annuities can be structured to multiply their payout when long-term care is needed — turning retirement savings into enhanced income for care. If care is never needed, the value stays part of your retirement plan rather than being spent on premiums. For many people this answers the biggest objection to traditional coverage: “what if I never use it?”
Which approach fits — or whether a hybrid of the two makes sense — depends on your health, your savings, and your family situation. We will walk through the real numbers with you, including what care actually costs in your area.
Is An Annuity Right For You?
An annuity is not for everyone, and it is rarely the right place for all of your savings. The questions we walk through together: How much dependable monthly income do you need beyond Social Security? How much of your savings should stay flexible and accessible? How long is the surrender period, and what does it cost to change your mind? What happens for your spouse or family?
If an annuity fits, we will show you exactly how and why. If it does not, we will tell you that too — keeping your business matters less to us than keeping your trust.
Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are long-term products; withdrawals may be subject to surrender charges, and may have tax implications — please consult a qualified tax professional about your situation.
No Pressure, Ever
Tell us what you’re trying to protect. We’ll help you understand your options and choose with confidence.