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What is an annuity?

An annuity is a contract between an insurance company and an annuity owner. In exchange for a purchase payment, or series of payments, the insurance company guarantees* to pay a stream of income in the future.

Who needs an annuity?

Annuities are designed to help individuals convert assets into a stream of guaranteed* income.

What are the different types of annuities?

Immediate Annuities

An immediate annuity begins a stream of income within 12 months from the date of issue. You decide when payments will begin within that period and how long you want to receive income.

Deferred Annuities

A deferred annuity is a long-term product designed to help you accumulate assets for retirement over a longer period of time. It also offers the ability to turn those assets into a stream of guaranteed* income at some point in the future. You decide when payments begin and how long to receive income.

*Guarantees are based on the claims-paying ability of the issuing company.