What does retirement mean to you? You might look forward to time with your grandchildren and a favorite hobby. Or maybe you want to play endless rounds of golf and explore the world. Whatever your goals, they probably depend on a reliable source of income.

And that’s where an annuity can help. They’re insurance products designed to provide you with a way to accumulate tax-deferred savings while you prepare for retirement, and a steady stream of retirement income.

Annuities are designed to help you grow your retirement income. They’re long-term contracts from an insurance company where you invest your money. In return for your investment, you get income in the form of regular payments.

An annuity is a long-term investment that is issued by an insurance company and is designed to help protect you from the risk of outliving your income. Through annuitization, your purchase payments (what you contribute) are converted into periodic payments that can last for life.

Investing involves risk, and your investments may lose value. All guarantees and protections are subject to the claims-paying ability of the issuing insurance company, but the guarantees do not apply to any vairable accounts, which are subject to investment risk, including the possible loss of principal.

There are several types of annuity products available to choose from. Whether you’re looking for income options, legacy planning tools or spousal protection, your financial professional can tailor a plan to meet your specific goals.

Variable: There’s the potential for more earnings, but you also take on more risk.

Registered index-linked: Exposure to downside risk is limited, and there is potential for increased earnings based on index growth.

Fixed: Your investment grows based on a guaranteed rate of return.

Immediate: Convert a lump sum of money into a stream of income.

Fixed indexed: The potential for increased earnings is based on index growth, but there’s still downside protection.

There are several types of annuity products available to choose from. Whether you’re looking for income options, legacy planning tools or spousal protection, your financial professional can tailor a plan to meet your specific goals.

Variable: There’s the potential for more earnings, but you also take on more risk.

Registered index-linked: Exposure to downside risk is limited, and there is potential for increased earnings based on index growth.

Fixed: Your investment grows based on a guaranteed rate of return.

Immediate: Convert a lump sum of money into a stream of income.

Fixed indexed: The potential for increased earnings is based on index growth, but there’s still downside protection.

Like any investments, annuities carry risks. For example, if you pass away before the payout period, you miss out on annuity payments. In addition, it may not be easy to take money out of your annuity account after you’ve invested it. Investors should research the insurance company that is underwriting the annuity. Risks include:

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.