Annuities

Fixed. Equity Indexed. Variable. Immediate or Deferred. Annuities have many options. You may have a lot of questions and Dr. Sturm can provide answers for your annuity questions. Legacy helps people in Southern Alabama to find the right annuities to fit their needs and their investing goals.

Deferred Annuities: These can be used to build a saving for retirement starting with as little as $50 per month. Deferred annuities will accept a much greater annual amount than other retirement savings plans (sometimes over $500,000 annually) while maintaining a tax-deferred status similar to a traditional IRA or 401K plan. There is a minimum guaranteed interest rate and then depending upon which annuity you chose, the yearly rates will often be a higher interest rate reflective of the economy that year. Once you are ready for retirement, you can convert your annuity into the payout phase where it acts exactly the same as an immediate annuity.

Immediate Annuities: These are used during the payout phase to portion out an income each month or year to a retired person. You deposit money with an insurance company and agree under contract to a certain payout each month. Each month you will receive a dollar amount either directly deposited to your account or a check sent to your address. Immediate annuities are a great way to set up a steady, reliable source of retirement income which can last for either a set number of years or for your lifetime.

Annuities can be used to create your own "defined pension plan" similar to what many employers offered decades ago. Annuities can provide a low risk savings vehicle for retirement savings without many of the deposit restrictions IRAs or 401ks have in place. Annuities are meant to be a low risk investment, so Legacy recommends only fixed or fixed indexed annuities. As with all investments, there is some risk when investing in annuities. Legacy offers annuities and life insurance policies through Aviva, RBC, Great American Life and Lincoln.

Dr. Sturm can sit down with you to discuss whether annuities would be right for your circumstances. Just give her a call at (251) 219-4574 to set up a meeting. She would be happy to answer all of your questions. If you would prefer, you can also fill out the form below and Dr. Sturm will contact you: