ANNUITIES
An annuity is a contract between you and an insurance company in which the company promises to make periodic payments to you, starting immediately or at some future time. You buy an annuity either with a single payment or a series of payments called premiums.
An annuity is a common way to save for retirement with tax advantages and assets into a regular income stream during retirement.
We offers several types of annuities to meet the differing needs of our clients.
There are three types of annuities: fixed, variable and indexed
Single Premium Deferred Annuity (SPDA)
An SPDA is a tax-deferred indexed annuity that will only accept a single payment made directly to the company or through a transfer or rollover.
Flexible Premium Deferred Annuity (FPDA)
An FPDA is a tax-deferred indexed annuity that accepts multiple premium payments while the annuity is in an accumulation period. Payment methods may include salary reduction payments, bank draft or pre-authorized check plan payments, transfers, rollovers, and single sum direct payments.
MYGA/Fixed Single Premium Annuity
A fixed single premium annuity is a tax-deferred annuity that will only accept a single payment made directly to the company or through a transfer or rollover. A Multi-Year Guaranteed Annuity (MYGA) is a fixed single premium annuity that guarantees an interest period for a specific period, for example, three or five years.