A fixed annuity is a contract between  an insurance company and a customer, typically called the annuitant. The contract obligates the insurance company to make a series of fixed annuity payments to the annuitant for the duration of the contract. Retirees may consider an immediate deferred fixed annuity to provide a steady income for life. The annuitant surrenders a lump sum of cash in exchange for monthly payments that are guaranteed by the Insurance Company.

The guarantees of fixed annuity contracts are contingent on the claims-paying ability of the issuing insurance company Annuity withdrawals are taxed as ordinary income and may be subject to surrender changes plus a 10% federal income tax penalty if made prior to age 59 % Surrender charges may also apply during the policy’s early years.

For mare information about annuities, please call our office at 800-264-4515.

• Fixed Annuity

• Fixed Indexed Annuity

• Variable Annuity