Annuities

What is an Annuity?

An annuity is a financial product designed to provide reliable income, typically during retirement.

It is a contract between you and an insurance company where you contribute a lump sum or a series of payments. In return, the insurance company provides income either immediately or at a future date.

The primary purpose of an annuity is to help ensure that you do not outlive your money.

For many retirees, annuities serve as a complement to other income sources such as Social Security, pensions, or investment portfolios.

Why Annuities Matter

A properly structured annuity can help:

• Provide guaranteed retirement income
• Protect a portion of savings from market volatility
• Create predictable cash flow in retirement
• Supplement Social Security or pension income
• Preserve assets for long-term financial stability