Annuities can provide a steady income stream during retirement. They are one of the few financial products that can guarantee income for life — no matter how long you live.
What is an Annuity?
An annuity is an insurance product where you make a lump sum payment or series of payments, and in return, you receive regular income payments either immediately or at some point in the future.
Types of Annuities
Immediate Annuity: You deposit a lump sum and start receiving income right away — typically within 12 months.
Deferred Annuity: Your money grows tax-deferred, and you receive income payments starting at a future date you choose.
Fixed Annuity: Offers a guaranteed interest rate and predictable income payments.
Variable Annuity: Returns are tied to investment performance — potentially higher returns but with more risk.
Benefits of Annuities
- Lifetime income guarantee
- Tax-deferred growth
- Principal protection (with fixed annuities)
- Flexible contribution options
Interested in adding guaranteed income to your retirement? Get a free consultation to see if an annuity makes sense for your retirement strategy.
Last updated: April 2026 | Licensed Insurance Advisor in Florida | License W248767