What it is
An annuity is a contract with an insurance company. You put money in, it can grow tax-deferred, and later it can be turned into a stream of income, including income you cannot outlive, depending on the contract.
People often use annuities alongside a pension and Social Security to help cover the bills in retirement.
Who it's for
Teachers, state employees and other workers nearing or in retirement, people rolling over a 401(k), 403(b) or 457 from a past job, and anyone who wants part of their savings to be protected from market losses.
How it works
We review your pension, Social Security and savings to see where an income gap might be. If an annuity fits, we compare contracts, including surrender periods, fees and riders, so you understand exactly what you are getting before you decide.
Common options
Fixed annuities
A declared interest rate for a set period. Simple and predictable.
Fixed indexed annuities
Interest linked to a market index with protection from index losses. Growth is subject to caps or participation rates.
Income riders
Optional riders that can provide lifetime income withdrawals, usually for an added cost.
Rollovers
Moving an old 401(k), 403(b), 457 or IRA into an annuity, often done as a direct transfer to help avoid taxes and penalties.
Frequently asked questions
Can I lose money in an annuity?
Fixed and fixed indexed annuities are designed to protect principal from market losses, but surrender charges may apply if you take out more than allowed early.
Can I get my money out?
Most allow some free withdrawals each year. Larger early withdrawals may have surrender charges and taxes.
Is an annuity right for everyone?
No. It depends on your goals, timeline and other savings. That is why we start with a review.
Does this replace my pension?
No. It is usually used to add to pension and Social Security income.
Let's talk about your family's plan
A free, no-pressure review with Jerry Hall. We'll look at where you are and walk through options that may fit.
Book Your Free ReviewAnnuity guarantees are backed by the claims-paying ability of the issuing insurance company. Withdrawals may be subject to income tax and, before age 59½, a federal penalty. Annuities are not FDIC insured. This page is general information, not a guarantee of coverage, benefits or results. Insurance products offered through licensed agents. Not all products available in all states. Coverage is subject to underwriting and the terms of the policy or contract.