Annuities

Get a peace-of-mind income stream at retirement

There is no doubt that we are living in trying times. Protecting your retirement income is top of mind for most investors. And this has become increasingly important as our lifespans get longer. Many retirees now worry that they will outlive their retirement nestegg.

But there is a solution. It’s called an annuity. And it provides a guaranteed income stream for as long as you live. An annuity is basically a contract you buy from an insurance company under which the company guarantees you’ll receive a specified income flow for a specified period of time.

Many years ago, annuities were an all-or-nothing kind of product. No longer. In today’s competitive market, insurance companies offer a number of annuity products with features designed for today’s retirement planning needs.

At Castlemark Wealth Management, we’ll work with you to provide the best annuity strategy for your income needs. Here are just some of the annuity variations we work with:

* Fixed annuity. This is the basic annuity, designed to pay out the agreed income for the duration of the contract, usually the life of the annuitant.

* Variable annuity. Allows you to choose the investments from a list provided by the insurance company that will produce your income stream. Returns vary depending on the investment mix chosen.

* Deferred annuity: Payments from this type of annuity are delayed until you choose to receive them. During the savings period, funds accumulate in an investment account, and during the income payout period, annuity payments are received.

* Insured annuity. A combination of a prescribed annuity and a life insurance policy equal to the amount of capital used to purchase the annuity. The death benefit on the life insurance policy replaces the capital used to purchase the annuity.

Annuities are just one retirement income product. We have the expertise to design the best overall retirement income strategy for you, using a combination of annuity products and strategies, and other income-producing assets in your other registered and non-registered accounts.