What is an Annuity?

Simply put, an annuity is a contract between an individual and an insurance company. It is designed to protect and grow their money, and then provide a stream of income during retirement. In fact, other than pensions, annuities are the only products that provide guaranteed lifetime income.

How do annuities work?
  1. An annuity is purchased by making a payment to an insurance company.
  2. The annuity can grow over time.
  3. The annuity is turned into a steady stream of retirement income payments.
Top 5 Annuity Myths To Ditch
Top 5 Annuity Myths To Ditch
Annuity advantages
Here are some reasons your clients might want to consider purchasing an annuity:
Protection and growth
With an annuity, your clients can grow their money while keeping it protected from loss.
Tax-deferral
Annuities offer tax-deferred growth, which allows your clients’ money to accumulate at a faster rate than it would in a taxable product.
Retirement income
Your clients can turn the money they’ve saved into a regular paycheck for a specified number of years or for life.
Death benefit
Annuities offer an efficient way to leave a legacy for loved ones.
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