An annuity is a contract with an insurance company. You give the company a premium. The company promises income, growth with limits, or both, according to the contract. Fixed annuities credit a stated rate. Indexed annuities credit interest using a market index with a cap and a floor. Immediate annuities start checks now. Deferred annuities start later.
Surrender charges, rider fees, and income-base rules are where people get hurt. We read those before we recommend anything. Start with the explainer: Annuities explained.
Educational only. Products, features, and availability vary by carrier and by state. This is not an offer of insurance, tax advice, or a recommendation of any specific policy. Licensed in AL, AZ, AR, CO, ID, LA, MS, MO, MT, NM, NC, SC, TN, UT, WV, WY. Iron Tusk Insurance Group, LLC. National Producer Number #22311194.
Income you can actually spend.
Bring the annuity you were sold — or the pile of cash you do not want to outlive.