Life insurance is designed to help solve the problems created when someone dies prematurely. An annuity, on the other hand, is designed to protect against the possibility of living too long. A “fixed indexed” annuity is a contract between an individual and an insurance company. In exchange for a single, lump-sum premium, the insurance company agrees to begin paying a regular income to the purchase for a period of years or life.
There are different types of annuities and purchasing an annuity can form an important part of a retirement income plan. However, annuities can be complex products to navigate. This is where we can help. We have the knowledge and experience to help you find the type of annuity that is right for your retirement income plan.