Annuities — Retirement Income

Yes. With a lifetime income benefit, an annuity can pay a stream of income that continues for your entire life — income you cannot outlive. The amount depends on the product, your age, and the terms selected.

A fixed annuity credits a declared interest rate. An indexed annuity credits interest based on the performance of an index, with a floor that can protect against index declines. Both offer guarantees backed by the issuing carrier.

Annuity guarantees are backed by the claims-paying ability of the issuing insurance company. That is why I compare the financial strength of carriers when recommending a product.

Timing depends on your retirement horizon and income gap. Some annuities are built to accumulate first and pay later; others begin income sooner. We model both against your timeline.

An annuity can complement — not replace — your other accounts by adding a guaranteed income floor. I help you see how it fits within your full retirement picture.

Many annuities allow withdrawals — often penalty-free up to a set percentage each year — but early or larger withdrawals may trigger surrender charges and tax consequences. We review the liquidity terms before you commit so you understand your access to your money.

An annuity can pass a remaining value or continued payments to a beneficiary, depending on the structure you choose. Some options stop at the annuitant's death; others guarantee a period-certain or a return of premium. We coordinate this with your overall estate plan.

Annuities often carry surrender charges that decline over a set number of years, and some have annual contract or rider charges. Indexed annuities' caps and participation rates also shape what is credited. I lay out every cost in plain terms and compare options across carriers.

Because guarantees depend on the issuing carrier, I compare financial-strength ratings, payout rates, surrender schedules, and rider options — not just the headline numbers. That comparison is the advantage of working with an independent agent rather than one carrier's representative.