We've partnered with Income Solutions ® to provide you with a wide range of annuity options.
What is an Annuity?
An insurance contract where an individual agrees to pay a lump sum premium to an insurance company, and in exchange, receives a regular stream of income from the insurance company for life or for a specified number of years. Income Annuities are designed to protect against the risk of living longer than expected and outliving one’s savings.
Retirees face several risks related to drawing down retirement savings and trying to establish a reliable monthly income for their lifetime:
- Investment Risk –Risk of fluctuating investment value
- Inflation Risk –Erosion of buying power over time
- Longevity Risk –Potential to outlive their financial resources
Income Annuities help protect against all of these risks.
Annuities are ideal for employees who are:
- Retired or preparing to retire (transitioning)
- Concerned about outliving their savings
- Looking to supplement their income in retirement
- Wanting a personal pension or paycheck for life