What is a Deferred Annuity?

A deferred annuity is an insurance contract for long-term savings, like retirement. Investors choose when they start taking out money – and won't pay income taxes until then. That works a bit differently than an immediate annuity, which requires you to take annual or monthly payments right away and doesn’t offer the same tax-deferred growth.

Deferred annuities are long-term investments that can be used for retirement income.

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Types of deferred annuities

Single premium deferred fixed annuity

Turn a single payment into future income. Plus, earn a fixed interest rate and the opportunity for tax-deferred growth. You also can take limited withdrawals without a surrender charge. Check out our video on how this annuity works and see if it may be right for your retirement goals.

  • Make a one-time payment.
  • Earn a competitive, guaranteed minimum interest rate.1

Fixed indexed annuities

Purchase a fixed indexed annuity with a one-time, lump-sum payment and take advantage of growth potential and built-in loss protection. Pay no taxes on earnings until you start taking income. Plus, you can withdraw up to 10% of your value annually without surrender charges.2

  • Potential for interest credited annually, up to a cap.
  • No loss of value due to negative market performance.

Flexible premium deferred fixed annuity

Strengthen your savings as you go with flexible premium options. Flexible premium deferred annuities are designed to help you save at your own pace. You can make premium payments as frequently or infrequently as you want (some restrictions apply).

  • Earn a competitive fixed interest rate.
  • Turn your assets into an income stream later.

Deferred income annuity

Guaranteed income can help cover your essential expenses. Purchase a deferred income annuity with a one-time, lump-sum payment and receive guaranteed income payments down the road for one or two people. For many people, it's a way to help supplement Social Security with an additional guaranteed income.

  • In exchange for higher income payments later, you give up liquidity.
  • Multiple payout options let you choose how/when to take income.

Flexible premium deferred variable annuity

Variable annuities are intended to be long-term investments, particularly for retirement. You can start investing and make additional premium payments as often as you like. Choose from a variety of professionally managed investment portfolios.

  • Potential to grow tax-deferred until you start taking withdrawals.
  • Choose how and when you take retirement income.

Managed account variable annuity

This flexible premium deferred variable annuity is designed to help members accumulate retirement assets. Available exclusively within a managed account structure, it combines access to subaccount options – both proprietary and nonproprietary – with the insurance benefits of a variable annuity.

  • Multiple well-known investment options to choose from.
  • Investment advisory fees customized to your needs and desires.