Personal Pensions

An annuity is a financial tool provided and guaranteed by an insurance company, offering income payments for the contract duration regardless of market conditions, subject to the claims-paying ability of the insurer. Options can include selecting the start date and deciding whether benefits continue to a beneficiary.\n\nAnnuities can be structured for income generation or long-term growth, but they are not short-term investments. They may appeal to people seeking retirement income, diversification and principal preservation.\n\nAn annuity is an insurance product designed to provide consumers with lifetime guaranteed income. Through tax deferral, an annuity can help your money accumulate while deferring income taxes. Unlike 401(k)s and IRAs, annuities generally have no annual contribution limits. Withdrawals before age 59½ may be subject to taxes and penalties.