AnnuitiesLifetime IncomeRetirement

Annuities

Educational overview. Annuities are insurance contracts designed to provide steady lifetime income, often used in retirement planning. Multiples types exist — fixed, fixed-indexed, variable, immediate, deferred — each with unique features, fees, and tax treatment.

Annuities are insurance contracts in which the issuer accepts a lump sum or periodic premium and agrees to pay back a stream of income, often starting at a future date. Common categories include fixed (guaranteed minimum interest rates, predictable income), fixed-indexed (linked to a market index with caps/floors, similar to indexed universal life but structured as an annuity), variable (sub-accounts invested in mutual funds, with full market exposure), immediate (income starts within 12 months of premium), and deferred (income starts at a future date). Each carries unique features, fees, surrender charges, and tax treatment. Suitability requires a licensed advisor — Florida Admin Code 69B-211 applies specifically to annuity recommendations in Florida.

Educational content only. This information is not financial, tax, or legal advice. Product availability varies by state and carrier underwriting. Speak with a licensed advisor before making decisions based on this content.

By Laura Flaherty · Last reviewed recently.

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