Annuities for Individuals
What are Annuities?
An annuity is a type of investment account typically used for retirement savings. Often, it is used to generate lifetime income payments in retirement. By definition, an annuity is a contract between you and a third party, usually an insurance company. Whereby, in exchange for making a lump sum payment (or by paying a monthly premium), the issuing insurance company provides some type of guarantee on your investment.
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How do I get Annuities?
You can purchase an annuity outright. Or, you can roll over money from an employer-sponsored retirement plan, such as
- 401(k),
- 403(b),
- or other profit sharing plan.
Rolling over your assets into an annuity offers you many benefits. These benefits include:
- continued tax deferral,
- growth potential,
- protection from market downturns, guaranteed lifetime income,
- flexibility, and
- allows you to leave a legacy for your loved ones.
RVR Insurance can assist you with identifying and purchasing the annuity that will best help you achieve your retirement goals. Give Rralph a call or fill out the contact us form.