What is
an annuity?

Discover the value of annuities — an introduction

An annuity is a financial product that can be customized to give you lifetime guarantees and is:

An annuity is a contract you purchase from an insurance company, designed for long-term investing. The values will fluctuate based on investment option performance. Annuities have restrictions and limitations, and fees and charges will vary based on the product. You may be charged a penalty if you take your money out early. Withdrawals may be subject to ordinary income taxes, and if you are under age 59½, you may pay a 10% federal tax penalty. Please remember that investing involves risk, including possible loss of principal. All guarantees and protections are subject to the claims-paying ability of the issuing insurance company.

Annuities can provide:



An annuity can provide you income for as long as you live through annuitization* at no extra cost, or via an optional benefit rider available for an additional cost.



An annuity can provide you the opportunity to create a living legacy by preserving funds for future generations in a tax-efficient manner.



An annuity can be used to protect and preserve assets for a surviving spouse through death benefits and/or living benefits to sustain their ongoing lifestyle.


Annuitization is a one-time process of taking your annuity account and turning it into regular payments that will last for the rest of your life. The annuitized payments continue, regardless of how long you live, even if the total payments exceed the original account value.

For more information on annuities, check out the following video:

Annuity overview

Annuities are flexible

As an investor, you're in control with:

Flexible timing — Invest a lump sum now or add money over a period of time.

Flexible opportunities — Choose from products and features designed to offer lifetime income, legacy planning and spousal guarantees.

Flexible annuity options — Select a product in your comfort zone variable annuities, fixed indexed annuities, immediate annuities and fixed annuities.

Flexible withdrawals — Take withdrawals as planned; there's an option to withdraw early, but it may come with a penalty.


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