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ANNUITIES

A VERY SERIOUS BUSINESS THAT YOU SHOULD HAVE

An annuity is a good investment option for people willing to take on more significant risk in the hopes of getting a larger payout. You can use your earnings for supplemental income in retirement, guaranteed financial independence as you age, or a legacy to leave your loved ones. An annuity can allow you to continue living comfortably well into retirement with the right guidance.

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Unlike other investment plans, there are no limitations on how much you can invest with an annuity. At CIMA INSURANCE we can help you understand and choose the right solutions for your annuity investments.

Annuity Options:
  1. Immediate annuity

  2. Deferred annuity

1. Immediate annuity

An immediate annuity can start paying you as soon as it starts. You can choose if you want your income to be guaranteed for a certain time or if you want to receive payments for life. Your payments will be calculated based on your life expectancy and principle.

 

2. Deferred annuity

A deferred annuity has two different phases.

  • Accumulation is when you add money to your annuity for your retirement or other financial gains. You can choose to pay in a lump sum or make a series of payments that work best for your financial situation. This can continue to allow your account to grow tax deferred for an unlimited period.​

  • The distribution is when you begin withdrawing money from your annuity. You can make systematic withdrawals or annuitize to supplement your finances with a regular income stream for life.

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