An annuity is a contract between an insurance company and an annuity owner. The annuity owner makes a payment, or series of payments to the insurance company. The insurance company guarantees to pay a fixed interest rate on the money.
A deferred annuity is a long term investment used to accumulate assets for retirement. Here at CNB Insurance Agency, we sell Fixed Annuities because of the fixed, guaranteed rates they offer as well as the security and peace of mind they give. The annuity offers the ability to turn those assets into a predictable stream of income at some point in the future. A deferred fixed annuity offers tax-deferred growth. You don’t pay taxes on your money while it remains in the annuity.
An immediate annuity provides a regular income stream purchased with a lump sum investment. This type of annuity can bring great peace of mind when so many people are concerned they will outlive their money. Many retirees cannot risk the fluctuations in the stock market. An immediate annuity may be the solution for you. It offers a way to ensure you’ll receive a check every month for the rest of your life.
If you would like more information on Annuities, please complete the contact us form, or if you would like to speak to a CNB Representative, please call 585.394.4260 ext. 0.