Retirement planning is about more than just saving; it’s about ensuring a steady income stream to support your lifestyle. Immediate Annuities offer a dependable way to turn your savings into guaranteed payments, and at 705 Insurance, we’re here to guide you every step of the way. Our expertise in retirement planning and personalized service makes us the trusted choice for your financial needs.

What Are Immediate Annuities?

Immediate Annuities are a type of insurance product that provides regular income payments in exchange for a lump-sum investment. Payments begin shortly after the investment and can last for a set period or your lifetime, depending on the terms you choose. Immediate Annuities are designed to offer financial stability and peace of mind, especially for retirees seeking a consistent income.

Benefits of Immediate Annuities with 705 Insurance

• Guaranteed Income: Receive consistent payments to cover your living expenses during retirement.

• Customizable Plans: Tailor your annuity to fit your unique needs, including payment frequency and duration.

• Tax Advantages: Benefit from potential tax deferrals, depending on the type of annuity.

• Peace of Mind: Eliminate the risk of outliving your savings with lifetime payment options.

• Expert Guidance: Our brokers help you design an annuity plan that aligns with your retirement goals.

Common Questions About Immediate Annuities

• How do Immediate Annuities work? You provide a lump sum to an insurance provider, which is then converted into regular income payments. Payments can start immediately or within a year.

• Who should consider Immediate Annuities? This option is ideal for retirees or individuals nearing retirement who want predictable income and stability.

• What happens to my investment after I pass away? Depending on your chosen terms, payments may stop or continue to a beneficiary for a specified period.

Clearing Up Misconceptions

Some believe Immediate Annuities limit access to their principal, but various options, such as guaranteed periods or joint-life payments, can offer flexibility. Another misconception is that they are only for individuals with large sums to invest. In reality, Immediate Annuities can be customized for different financial situations. At 705 Insurance, we ensure you understand all your options to make an informed decision.

Real-Life Examples

• For Retirees: A retiree invests in an Immediate Annuity to cover essential living expenses, ensuring they have a steady income without market risk.

• For Couples: A couple chooses a joint-life Immediate Annuity, guaranteeing income for both spouses, even after one passes away.

• For Peace of Mind: An individual uses a portion of their retirement savings to purchase an Immediate Annuity, securing a stable income while keeping the rest invested.

The 705 Insurance Difference

At 705 Insurance, we pride ourselves on offering solutions that prioritize your financial well-being. Our experienced brokers provide personalized advice to help you choose the best Immediate Annuity for your needs. Don’t leave your retirement income to chance—contact us today to secure a steady, guaranteed income and enjoy peace of mind during your retirement!