Will Your Savings And Investments Last?
Annuities are one way for retirees and people planning for retirement to arrange steady income for themselves. When you buy an annuity, you're contracting with an insurance company to make payments to you, starting right away (an immediate annuity) or sometime in the future (a deferred annuity).
One of the payment options will be income for the rest of your life, or your life and your spouse's. There are other advantages, too:
- Tax-deferred growth. Your annuity earnings can grow faster until you retire, since you don't owe tax until the earnings are paid out to you.
- A potential death benefit for your survivors. If you die prematurely, your spouse or other beneficiary may be entitled to a lump-sum payment.
- A choice of underlying investment types. Fixed annuities pay a guaranteed* interest rate. Variable annuities allow you to benefit from stock and bond market gains, but expose you to downturns.**
Wondering whether an annuity should be part of your retirement portfolio? Visit or call any SB&T location for a referral to a Synovus Investment and Insurance Specialist. They'll review the pros and cons, answer your questions and discuss your choices with you.