Let us review your current annuities to see if there are suitable lower-cost options to provide you with more competitive rates. Or, we have a broad selection of retirement annuity products designed to fit your needs. Here are some details on the most common annuity types:

Fixed (FA):

• Provides a guaranteed interest rate as well as an initial interest rate
• The actual interest rate may vary but will not fall below the guaranteed minimum interest rate (GMIR).
• Will continue to grow at the declared rate regardless of stock market performance or the overall interest rate environment.
• Multi-Year Guaranteed Annuities (MYGAs) provide a particular interest rate over longer time periods.

Fixed Indexed (FIA)

• Gathers interest based on the performance of a specific stock market index, like the Dow Jones Industrial Average or the S&P 500
• Some include a guaranteed rate of return or floor, securing a base return
• Are tied to the performance of a stock index but aren’t directly exposed to the markets.

Single-Premium Immediate (SPIA)

• Doesn’t have an accumulation or deferral period
• Purchased with a lump sum of money, and benefits are triggered within a year of purchase.
• Payment amounts from an SPIA will depend on the lump sum used to purchase the contract, your life expectancy, your gender, and other factors.

Deferred Income Annuities (DIA)

• Combines elements of FAs and SPIAs
• Purchased with a lump sum, but benefits can be delayed for a set period, allowing the contract value to grow, and increasing the benefit payment amounts on distribution.
• May be possible to contribute over the initial purchase amount, which can increase benefit payouts.
• Sometimes referred to as “longevity insurance” or a “longevity annuity.”