Guaranteed income options
Some annuities offer income you cannot outlive.
Annuities
Guaranteed Income Options for Your Retirement
Annuities can help turn a portion of your savings into predictable income. At Elderberry Agency, we provide clear, friendly guidance to help you understand how annuities work and whether they may fit into your retirement strategy.
What Is an Annuity?
An annuity is a long-term insurance product designed to help you accumulate assets or create income during retirement. When you purchase an annuity, you enter into a contract with an insurance company. Depending on the type of annuity, your money may grow at a fixed rate, be linked to a market index, or provide guaranteed income payments.
Annuities are not right for everyone, but they can be helpful for individuals who want predictable income or additional protection as they plan for retirement.
Why People Consider Annuities
Tax-deferred growth
Earnings grow tax-deferred until withdrawn.
Protection features
Certain annuities include options that help protect principal from market downturns, subject to the claims-paying ability of the issuing insurer.
Legacy benefits
Some contracts include death benefits for beneficiaries.
Types of Annuities
We provide educational information about several types of annuities:
Fixed Annuities
Offer a guaranteed interest rate for a set period.
Fixed Indexed Annuities
Interest crediting is tied to a market index, but you do not directly invest in the market. These products typically include protection against negative index returns.
Immediate Income Annuities
Convert a lump sum into income payments that begin shortly after purchase.
(Elderberry Agency does not offer variable annuities or any products involving securities.)
Our Approach
At Elderberry Agency, we take an education-first approach. We start with a conversation about your goals, income needs, and comfort with risk. From there, we help you understand how different annuity options work and what factors may be important to consider.
We are an independent insurance agency, which means we can review options from multiple carriers. Any recommendation is based on your individual circumstances, including age, time horizon, liquidity needs, and overall financial picture.
How We Work
Conversation
We learn about your retirement goals and income needs.
Education
We explain how annuities work in clear, simple terms.
Review
If an annuity appears suitable, we help you review options and understand next steps.
Important Considerations
- Fees and chargesAnnuities may include surrender charges, administrative fees, and optional rider costs.
- LiquidityAnnuities are designed for long-term use. Early withdrawals may incur surrender charges and may be subject to tax penalties.
- GuaranteesAll guarantees are backed by the claims-paying ability of the issuing insurance company.
- SuitabilityAnnuities may not be appropriate if you need short-term access to funds or prefer higher-risk growth strategies.
Contact Elderberry Agency
Have questions about annuities or retirement income? We’re here to help.
Disclosures
Annuities are long-term insurance products designed for retirement purposes. They are not bank deposits and are not insured by the FDIC or any other government agency. Annuities may be subject to surrender charges and other fees. Withdrawals are subject to ordinary income tax and, if taken before age 59½, may be subject to an additional 10% federal tax penalty.
All guarantees are based on the claims-paying ability of the issuing insurance company. Product features, riders, and availability vary by state and by carrier. This material is for informational purposes only and is not intended as tax or legal advice. Please consult with a qualified tax advisor or attorney regarding your personal situation.
Elderberry Agency provides insurance-only guidance and does not offer securities, investment products, or variable annuities.