Allow you to grow tax deferred assets and convert your account balance to income payments at a later date. In the accumulation phase, funds are paid into the contract and interest is credited. This phase can last a few years or decades, depending on your needs. Deferred annuities are ideal if your goal is to accumulate money until a future point in time when you will need it.

Annuities which are purchased with a single payment and start to pay income right away, normally one period after the annuity is purchased allowing you to receive income immediately. You can tailor immediate annuities to fit your needs, choosing payment options and their frequency (monthly, quarterly, semi-annually or annually).

These are annuities where the insurance company guarantees the principal and a minimum rate of interest, allowing your investment to grow without dropping its value. Payments into the contract earn a fixed rate of interest for a specified period of time. Its growth may be fixed at a specific dollar amount, by an interest rate or by a specified formula.

Variable annuities generally have many investment options covering the range of risk and including equities, bond and money market funds, as well as a fixed-interest account. The value of your investment depends upon the performance of the investments you choose, and includes risk of loss, including principal. Variable annuities can be purchased with flexible premiums or with a single premium

These annuities pay an income for a specified period of time. The amount paid depends on the length of the payout period.

Provide income for the remaining part of your life. The age of the annuitant determines the amount to be paid.

These annuities are used to fund accounts such as IRAs, Roth IRAs and Tax Sheltered Annuities. Since the qualified plan already provides tax-deferral, an annuity purchased to fund the plan provides no additional tax deferral benefits, but provides other benefits including opportunities for guaranteed lifetime income.

These are ideal annuities to purchase if you don’t belong to a tax-favored retirement plan. Investment earnings are tax-deferred until they are withdrawn.

Are purchased with a single lump sum premium payment. Single premium annuities are ideal for you if you have a large amount of personal savings, money from a pension plan/IRA rollover, an inheritance or proceeds from a sale of a home or business.

Are purchased with a series of payments scheduled or random.