What is an Annuity?

An annuity is a contract between you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either immediately or at some point in the future.

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What is a Fixed Annuity?

Fixed Annuity, sometimes referred to as a Traditional Fixed Annuity, provides a guaranteed interest rate as well as an initial interest rate. The actual interest rate may vary over the life of the annuity but will not fall

below the guaranteed minimum interest rate (GMIR), no matter stock market performance.

What is a Fixed Index Annuity (FIA)?

Fixed Annuity, sometimes referred to as a Traditional Fixed Annuity, provides a guaranteed interest rate as well as an initial interest rate. The actual interest rate may vary over the life of annuity but will not fall below

the Guaranteed Minimum Interest Rate (GMIR), no matter stock market performance.

What is a Single Premium Immediate Annuity (SPIA)?

Unlike Fixed or Fixed Indexed annuities, which provide tax-deferred growth, Single Premium Immediate Annuities (SPIAs) do not have an accumulation or deferral period. Rather, as the name indicates, they

are purchased with a lump sum of money. Benefits are then triggered within a year of purchase.

What is a Deferred Income Annuity (DIA)?

A Deferred Income Annuity (DIA) combines elements of Deferred Fixed annuities and Single Premium Immediate Annuities (SPIAs). Like SPIAs, Deferred Income Annuities are purchased with a lump sum.

However, benefits can be delayed for a set period of time, allowing the contract value to grow,

increasing the benefit payment amounts upon triggering distribution.

What is a Variable Annuity?

A Variable Annuity shares many features with Fixed and Fixed Indexed annuities. However, they are directly exposed to the stock market through underlying securities of the contract. The carrier guarantees a

minimum payment, but the rate of return will vary based on the performance of the underlying securities.