Over the years, you’ve worked hard for your money. You’ve invested and seen rewards for your good choices. However, the ups and downs of the market can cause uneasy feelings about your nest egg. One way to address these concerns is to diversify your retirement savings. An annuity can help round out your portfolio and protect your income.
What are annuities?
Annuities are long-term, tax-deferred retirement savings products, issued and guaranteed by an insurance carrier, such as Royal Neighbors. They are designed to provide you a revenue stream and protect you from the risk of outliving your income.
Which annuity is right for you?
- Immediate Annuity – this option converts an initial lump sum of money into a series of monthly, quarterly, or annual payments. It’s a good choice if you need a guaranteed income stream right away. And you decide if you want to receive those income payments over a specified number of years or as a steady stream of income you cannot outlive.
- Deferred Annuity – this product allows your savings to accumulate, tax deferred, until you choose to receive income. This can help address both pre-retirement savings and post-retirement income needs. A deferred annuity can be either single premium or one with the flexibility to add additional money when you choose over the deferred period.
American Council of Life Insurers
To learn more about how Royal Neighbors can assist you in protecting your nest egg, contact your Royal Neighbors agent or call (866) 845-6665.