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, MT, NC, NM, 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.