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. During the payout phase, funds are paid out of the annuity based on the option you selected. Payments can be distributed over a certain period of time or for life. 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 out 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.
Types of fixed annuities are:
Equity-indexed annuities: based on the performance of a specified stock index.
Market-value-adjusted annuities: allow you to choose the time period and interest rate and to withdraw money before the term period is over.

These tax-deferred annuities are based on a statistical indicator and are designed to mirror the performance of a common index, such as the S&P 500, Nasdaq or the Russell 1000 Index. By tracking the ups and downs of the benchmark, equity indexed annuities participate in market changes, following their performance.

A Variable Annuity is a long-term investment suitable for retirement savings where you can experience market growth, but also includes risk of loss, including principal. Most variable annuities include many equity investment options, asset allocation programs, and a guaranteed interest or money market option as a safe haven for those times you don't want assets subject to market forces.