Retirement

Annuities for Retirement

An annuity is a contract with an insurance company. You pay a premium, and the insurer provides features such as protection from market losses or income for life, based on the contract you choose. We help you compare fixed and indexed annuities by phone.

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Fixed and indexed annuities

We offer fixed and indexed annuities only. Both are insurance contracts, not securities, and neither puts your money directly in the stock market.

Fixed annuities

Your money earns a set interest rate for a set number of years, so you know what to expect.

Learn about annuities →

Indexed annuities

Interest credits are linked to a market index, up to a cap or participation rate, while your principal is protected from market losses.

Learn about annuities →

Lifetime income options

Turn part of your savings into income for a set number of years or for life, depending on the contract and any optional riders.

Learn about annuities →

Good to know before you buy

Annuities are long-term contracts. Withdrawals above the free amount during the surrender period may have surrender charges.
Withdrawals may be taxed as ordinary income, and withdrawals before age 59½ may have an additional IRS tax penalty.
Optional riders, such as income riders, may have extra fees.
Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.

Free retirement review

Talk with a licensed agent about your goals and whether an annuity makes sense for you. No cost, no pressure.

Annuity questions

Is an annuity insurance or an investment?

Fixed and indexed annuities are insurance contracts issued by insurance companies. They are not securities, and we do not offer securities or investment advice.

Are annuities taxable?

Interest in an annuity generally grows tax-deferred until you take money out. Withdrawals are usually taxed as ordinary income. Tax rules depend on your situation, so please talk with a tax professional.

Who might consider an annuity?

People who want to protect part of their savings from market losses, or who want income they can count on in retirement. An annuity is not right for everyone, especially for money you may need soon.

Annuities are insurance products issued by insurance companies. They are not bank deposits, are not FDIC insured and are not securities. Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Surrender charges may apply to early withdrawals. Senior Life Group does not provide tax, legal or investment advice.

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