People are living longer and that means more time and savings will be spent in retirement. If you need a tax-deferred investment to provide a guaranteed stream of income for life or a specified number of years in the future, an annuity may be worth considering.
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 guarantees¹ 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 income.
What is covered by annuities?
Annuities offer guaranteed income.
What are the different types of 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 to receive income. There are two types of immediate annuities - fixed or variable.
A deferred annuity is a long-term investment designed to help you accumulate assets for retirement. 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. There are basically two types of deferred annuities - fixed or variable.
Annuities are not appropriate for everyone. There are fees and charges associated with owning an annuity.
Prefer to speak to someone about annuities?
TALK TO A FINANCIAL PROFESSIONAL
¹Guarantees are based on the claims-paying ability of the issuing company.
Principal Underwriters: MML Distributors, LLC (MMLD) and MML Investors Services, LLC, Members FINRA and SIPC (www.FINRA.org and www.SIPC.org). MMLD and MML Investors Services, LLC, are subsidiaries of Massachusetts Mutual Life Insurance Company, 1295 State Street, Springfield, MA 01111-0001.