Retirement Savings and Annuities

If you’re like many of today’s retirees, traditional sources of retirement income, such as employee sponsored pension plans and Social Security benefits, will only fund a portion of your retirement.  In fact, over reliance on Social Security as part of your financial retirement plan could compromise achieving your retirement income needs.  You will likely need to bridge this gap to live the comfortable retirement you desire.

Annuities can help fill this gap by providing protection for your assets.  In simple terms, an annuity is a long-term contract between you and a life insurance company.  They are designed for retirement planning and are one of the few investments that can provide a stream of payments for life.

The Protective family of companies offers three types of annuities: immediate, fixed and variable.  Immediate annuities are for those wanting to begin annuity income payments soon after purchase.  Fixed annuities provide a stream of set (or fixed) annuity income payments over the life of the annuity.  Some even offer a guaranteed rate of growth after purchase*.  Finally, variable annuities offer a combination of investment and insurance benefits with options to help protect against market risk.

Since annuities are a life insurance product, they offer estate planning benefits that can help you more efficiently transfer your assets to your beneficiaries by avoiding the delay, cost and publicity of probate.  These benefits can help you protect a lasting legacy for your loved ones.

*All guarantees are subject to the claims-paying ability of the issuing insurance company.