Immediate or Deferred
(when will income payments begin)
In an Immediate Annuity, a person gives a lump sum of money to an insurance company in exchange for a stream of income payments that begin immediately.
In a Deferred Annuity, a person will typically fund the annuity over time, usually by making contributions or deposits throughout their working career. The income payments do not begin until a future date, usually at the start of their retirement.
A Fixed Annuity refers to the fact that the rate of return that a person earns within the contract is either guaranteed by the insurance company, or is earned and credited on a consistent, predictable basis throughout the life of the contract.
For investment purposes, we offer tax-deferred fixed annuity investments, immediate (income generating) annuities, deferred income accounts, guaranteed income riders, and structured settlements.