A contract sold by an insurance company designed to provide payments to the policyholder. These payments can be made at specified intervals, usually after retirement. Annuities can be fixed, index, variable, and immediate. All annuities are tax deferred. Your money grows tax-deferred until you take it out.

It really depends on your needs and your uses of the product. Annuties can be traced back to the founding of the United States of America. The first recorded use of annuities was by the church who used annuity concepts to provide for widows and retired ministers. Please call our office for details about the pros and cons of annuities and to see if any of the various types could fit your needs.