An annuity is a contract between you (the purchaser or owner) and the issuer (usually an insurance company). In its simplest form, you pay money to the annuity issuer, the issuer invests the money for you, and then the issuer pays out the principal and earnings back to you or to a named beneficiary. One of the attractive aspects to an annuity is that the earnings on an annuity (i.e., the interest earned on your money by the issuer) are tax deferred until you begin to receive payments back from the annuity issuer. Another unique feature to an annuity is that you cannot outlive the payments from the annuity issuer to you (assuming you elect to receive payments over your entire lifetime). If you elect to receive payments over your entire lifetime, the annuity issuer must make the payments to you no matter how long you live.
DISCLOSURE: Securities offered through Concourse Financial Group Securities, Inc. (CFGS), Member, FINRA/SIPC. Advisory services offered through Concourse Financial Group Advisors, a DBA for CFGS, a Registered Investment Advisor. Member, FINRA and SIPC. LD&B Insurance and Financial Services is independent of CFGS. Please be advised that presently Adam Savanick holds the series 6, 7, 63 and 65 licenses in AL, FL, IL, KY, LA, MA, MN, MO, MT, NC, OH, OR, PA, SC, TN, VA, and WV. Steve Brunk holds the series 6, 7, 63 and 66 licenses in AZ, CO, DC, DE, IN, MD, NC, PA, TX, VA and WV. Malachi Bontrager holds the series 7 and 66 licenses in VA. For residents of other states in which registration is not held, proper licenses and registrations must be obtained by Adam, Steve, or Malachi before proceeding further. No part of this communication should be construed as an offer to sell any security or provide investment advice or recommendation. Securities offered through CFGS will fluctuate in value and are subject to investment risks including possible loss of principal.