Life insurance
An annuity is a contract with a life insurance company that can grow savings without yearly taxes on the growth or turn a lump sum into income you can’t outlive. We compare contracts from several companies and explain the trade-offs before you sign.
Or call
The short answer
An annuity is a contract with a life insurance company. You pay in a lump sum or a series of payments, and the company credits interest or pays you income on the terms in the contract. Growth is tax-deferred until you take money out. Most annuities charge a surrender fee if you withdraw more than the contract allows during the first several years.
Types we offer
Fixed, fixed indexed, income
Taxes on growth
Deferred until withdrawal
Early withdrawal
Surrender charges apply
Corporate offices
Texas and Georgia
We offer fixed-type annuities only. Each one is a different way of trading access to your money for growth or guaranteed income.
Credits a set interest rate for a stated number of years. Simple and predictable, and not a bank product or FDIC-insured.
Credits interest based partly on a market index, such as the S&P 500, up to a cap, with protection against losses from index declines. More moving parts, so we walk you through how the crediting works.
Turns a lump sum into regular payments that start right away, for a set period or for the rest of your life.
You pay in now and income starts at a later date you choose, such as the year you plan to retire.
Annuities fit a specific job. They work well for someone close to or in retirement who wants a portion of their savings protected from market losses, or who wants a paycheck they can count on to cover the basics alongside Social Security. They also suit people who have already used their 401(k) and IRA limits and want more tax-deferred growth.
They’re a poor fit for money you may need soon. Most contracts charge a surrender fee if you take out more than the allowed amount during the first several years, and withdrawals before age 59 and a half can carry a federal tax penalty on top of income tax. That’s why we start with your timeline, your other savings and how much you’ll need to reach in an emergency, and we recommend an annuity only when it fits.
Two annuities with the same headline rate can work very differently. These are the terms we line up side by side for you before you decide.
1
When you need the money, what you have elsewhere and whether you want growth, protection or income.
2
We quote several life insurance companies and show you the terms that matter, not just the rate.
3
You see the disclosure documents and the surrender schedule before anything is signed, and we answer every question.
4
Every annuity comes with a free-look period after delivery. If it isn’t right, you can return it for a refund under the contract’s terms.
Fixed and fixed indexed annuities aren’t exposed to stock market losses, because your money isn’t invested directly in the market. Their guarantees depend on the insurance company that issues them, which is why we look at each company’s financial strength rating before we recommend a contract.
Not from market losses in a fixed or fixed indexed annuity. You can lose money by taking out more than the contract allows during the surrender period, because a surrender charge applies. Withdrawals before age 59 and a half can also carry a federal tax penalty.
No. We offer fixed, fixed indexed and income annuities, which are insurance products sold under a life insurance license. Variable annuities invest in market subaccounts and can only be sold by securities-licensed representatives. If a variable annuity is what you want, we’ll tell you so and point you to the right kind of advisor.
Often, yes, through a direct rollover or transfer, which keeps the money tax-deferred. Whether it makes sense depends on your plan’s options, fees and your timeline. We’ll go through it with you, and we recommend talking with your tax professional before you move retirement money.
Life insurance pays your family when you die. An annuity is built to pay you while you’re living, through growth or income. Many families use both: a life policy to protect the people who depend on them and an annuity for part of their retirement savings. See our life insurance page.
Life Insurance
Most families in Texas and Georgia need term life insurance: coverage for a set number of years, such as 20 or 30, that pays your beneficiaries if…
Personal Insurance
A personal insurance agency sells the policies a household needs: auto, homeowners, renters, life and similar coverage.
