An annuity is a financial contract with an insurance company, funded by the buyer, that creates a steady income stream during retirement. It's a versatile solution designed to safeguard against longevity risks by offering the possibility of lifetime income.
Annuities are financial products designed to provide a steady income stream, often used for retirement planning. By investing in an annuity, the insurance company guarantees income for life, regardless of market conditions, giving you peace of mind in your later years. Whether you're looking to supplement your retirement savings or protect your assets, annuities offer a reliable solution.
One of the biggest benefits of annuities is tax-deferred growth. This means your investments can grow without immediate tax consequences, allowing you to accumulate more over time. With an annuity, you won't have to pay taxes on your earnings until you withdraw them, giving you a long-term advantage to reach your financial goals.
Annuities offer flexible payout options tailored to your needs. Whether you choose a fixed or variable annuity, you can select from options such as lump-sum payments or periodic income distributions. This flexibility allows you to match your retirement strategy, ensuring that your financial needs are met as you transition into the next phase of your life.
Note: Quotes are for informational purposes and may vary from actual results.
Yes, annuities allow you to contribute large sums of money without the annual contribution limits imposed by retirement accounts like 401(k)s or IRAs.
Most annuities include a death benefit, ensuring that your beneficiary receives at least the premiums paid, minus withdrawals, if you pass away before annuitization.
Yes, but early withdrawals may incur a 10% federal tax penalty if taken before age 59½, along with income taxes on the earnings.
Before investing in an annuity, it's important to understand potential fees such as mortality and expense charges, administrative fees, and surrender charges. Always review the prospectus carefully and consult with a financial professional.
Have more questions?
Submitting an application or receiving a quote does not guarantee approval for coverage. Approval is subject to the insurer's underwriting guidelines. All policies are subject to the terms, conditions, and exclusions specified by the issuing insurer. Refer to your policy documents for full details. Any references to an insurer's financial strength are based on publicly available ratings and are not a guarantee of future performance. This site is operated by a licensed life and health insurance agent authorized to conduct business in Kentucky. Services and products may not be available in all states. Insurance quotes displayed on this site are for illustrative purposes only. Actual premiums, terms, and coverage amounts will vary based on the underwriting process and provider terms. Insurance policies are regulated by state law and subject to the terms and conditions of the issuing insurer. Please consult a licensed agent in your state for specific details. For personalized advice or quotes, please contact us directly. Policy specifics, including costs and eligibility, will be provided upon request after consultation. This site may contain links to third-party websites or services. We are not responsible for the accuracy or practices of these providers. Always verify terms directly with the provider. For personalized advice or quotes, please contact us directly. Policy specifics, including costs and eligibility, will be provided upon request after connecting with us. By submitting your information, you consent to be contacted by a licensed insurance agent/representative. Personal information provided on this site will be used to provide quotes and services as requested. Please review our Privacy Policy for details. Hurstbourne Insurance and Financial LLC may receive compensation from insurance providers for policies sold. This does not influence the recommendations provided to you. This site is intended to be accessible to all users. If you encounter any difficulties accessing the content, please contact us at contact@hurstbournewealthmanagement.com. We do not provide tax or legal advice. Consult with a qualified professional for information on how life insurance may affect your taxes or estate planning. The content on this website is for informational/educational purposes only and should not be considered as personalized legal, financial, or insurance advice. While we strive to provide accurate information, we are not responsible for errors, omissions, or inaccuracies. Use the information at your own risk.
