Annuities

Creating a Lifetime Income for Retirement with Annuities

An annuity is a form of investment that can generate a series of regular disbursements after a designated period. There are different types of annuities, including tax-advantaged deferred, fixed, and variable annuities. Each of them varies by objectives, risk level and benefits but all of them are contractual agreements with insurance companies.

There is nothing simple about annuities. Given the legal obligations, tax ramifications, and early penalties for withdrawal, it may be beneficial to speak with a financial professional to ensure any annuity you select truly reflects your goals and risk tolerance. In addition to helping you choose the right type of annuity, a financial planner can help secure additional protections through riders which can enhance the annuity’s income and legacy provisions.

Need help understanding annuities? Contact Louie.Berrodin@Prudential.com or call 330-352-1425.