Types of Retirement Annuities


Maximize Your Retirement Plan

With retirement on the horizon, you might be wondering if everything you’ve saved will last you the test of time. What if pensions, social security, and other assets don’t meet your living expenses? That’s where an annuity can help reinforce your plan for retirement. With an annuity, you are guaranteed to have a stream of income for the rest of your life.

Annuities are insurance contracts issued and distributed by financial institutions that exchanges present contributions for future income payments. After you sign up for the annuity, you begin by making payments to the company, either as a singly lump sum deposit or as a regular payments over time. You can choose when you want the payments from the financial institution to begin and how long they should last.

Types of Annuities

  • Fixed annuity - A buyer is guaranteed a fixed interest rate on their premium contribution/s for a specific period of time.
  • Fixed indexed annuity - Also known as equity indexed annuities. With this annuity, when making a lump sum payment or a series of payments during the accumulation period, the insurance company credits you with a return that is based on changes in an equity index. The insurer typically guarantees a minimum return that can vary.
  • Variable annuity - This product allows the buyer to choose from a menu of investment choices and the money typically grows tax-deferred. The rate of return and the number of periodic payments needed will vary.

Why CBIZ Individual Insurance Solutions?

Being ready for retirement doesn’t just mean you’ve saved enough money. It also means feeling confident because you have the guaranteed income you need. Enhance your retirement security today with CBIZ Individual Insurance Solutions.