An annuity is a financial product that pays an income for the remainder of your life. This income is guaranteed for the rest of your life and can be paid out immediately or deferred until you retire.
Annuities offer many benefits including tax-deferred growth, guaranteed income for your life and a guaranteed death benefit.
There are two basic types of annuities:
|With this type of annuity you will begin receiving payment within about 30 days after you purchase the contract. People who select this type of annuity are often in or near retirement and want to transfer funds from someplace else like an IRA and enjoy the money now.
||This type of annuity will defer the payments until later, when you are ready to use the funds. People who are still saving for retirement often select this type of annuity. Meanwhile, your money will grow tax-deferred.
Sons of Norway offers both immediate and deferred annuities. Our deferred annuities may be purchased either with a single premium or flexible premiums paid over time.
What type of annuity is right for you?
Annuity Products to help you reach in your financial goals
What are you dreaming about or planning for? A new home, your next car, a comfortable retirement or a family vacation? Sons of Norway offers a variety of annuity products that can be tailored to your most immediate goals as well as those in the distant future. A Financial Benefits Counselor can help determine which ones are right for you, your family and your goals.
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