What is an annuity?
An annuity is a contractually-executed, relatively low-risk investment where the insured individual pays a lump-sum premium to their insurance provider up front. That money will be paid back to the policy holder in fixed, incremental amounts over a determined period of time.The money is used for investments in which the resulting profit to compensate the policy holder.
What is an immediate annuity?
An immediate annuity is the most basic type of annuity. A policy holder makes one lump-sum contribution where it's converted into an ongoing, guaranteed stream of income for a predetermined period.
What is a deferred annuity?
A deferred annuity is a contract with an insurance company that is viewed as a medium for accumulating savings later. This policy pays the policyholder a regular income, or a lump sum, at a future date.
* Please note that while Standard Insurance company offers products that provide principal protection, not all deferred annuities provide this feature. The table above if for illustration purposes only and is not intended as tax or financial advice. as always, before making important financial decisions, please consult with your financial or tax advisor for information specific to your situation.
Annuities are not (a) insurance by the FDIC or any federal government agency, (b) deposits of or guaranteed by any bank or credit union and (c) a provision or condition of any bank or credit union activity. Some annuities are subject too investment risk and may lose value. A surrender charge may apply during the surrender period, and a 10% penalty may apply to withdrawals prior to age 59 1/2 .
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Please note: Not all products are available in every state. Rates change frequently, please call to verify rates and availability. All products are backed by the claims paying ability of the insurance carrier.