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An annuity is an investment that provides you with a regular fixed income for a lifetime or a specific number of years. There are two types of annuities available: deferred annuities and immediate annuities. For either type there are fixed rate annuities that guarantee a certain rate on your investment and variable rate annuities that offer more options. The right annuity for you depends on your specific needs.
Deferred annuities allow you to pay into an account that will be paid back to you starting at a later date. This type of annuity is usually best for saving for retirement.
Immediate annuities give you a stream of income right away. This type of annuity is good for retirees or those about to retire.
For more information on choosing which type is right for you, see our Deferred vs. Immediate annuity comparison questions.
The interest your investment earns can be based on a fixed rate or a variable rate based on stocks, bonds and money market performance. There are benefits and risks associated with each, so make sure you understand your options.
If you are unsure as to which type is best for you, use our Annuity Calculator to determine which options are right for you.
Request your Free No Obligation quote from Annuity-Central.com and you will receive the Free Insider's Guide to Annuities. The Insider's Guide is filled with even more information to help you learn even more about your options and speak with a licensed local financial professional in your area... Take me there
