Immediate Annuities
Make one lump-sum contribution that will get converted into an ongoing guaranteed stream of retirement income for a specified period of time, or for the rest of your life.
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Talk to a financial advisor, by video or over the phone, when and how it's convenient for you.What is an immediate annuity?
An immediate annuity is an insurance contract funded by a lump sum payment, like money from a savings account, a 401(k) or an individual retirement account (IRA). You decide on the frequency and duration of your payouts, and your initial withdrawal can start as soon as 30 days after purchase and must be taken within the first year.
Immediate annuities may be available in fixed or variable formats, so you can choose between a guaranteed stream of retirement income or the potential for market-driven returns.
Immediate annuity features
Immediate retirement income
Immediate annuity payments may start as early as one month after your annuity is issued or can be delayed up to a year.
Consistent retirement income
Consistent payouts mean you are less likely to outlive your retirement savings.
Easy account management
Once you purchase an immediate annuity, there are no additional steps and nothing to monitor.
Tax savings
Immediate annuity earnings are tax-deferred until you start to receive income payments. Then, only the payments you receive are subjected to income tax. But like many people, you might expect to be in a lower tax bracket during retirement, so you could potentially pay at a lower rate.
