Annuities in Tennessee

An annuity is a type of investment product that can provide a steady stream of income during your retirement years. In essence, it's an agreement between you and an insurance company that involves you making payments into the annuity over a set period of time. In return, the insurance company guarantees a certain level of income that you can receive at a later date, either for a set period or for the rest of your life.

There are different types of annuities, including fixed, variable, and indexed annuities, each with its own features and benefits. The type of annuity that's right for you depends on your specific needs and goals, such as your risk tolerance, retirement timeline, and desired income level. Annuities can be a valuable part of a retirement plan, as they offer a reliable source of income that you can count on during your golden years. If you're interested in learning more about annuities and how they can help you achieve your retirement goals, speak with a qualified financial advisor or insurance agent who can guide you through the process.



1. Fixed Annuities: A fixed annuity provides a guaranteed rate of return on your investment. This type of annuity is ideal for individuals who want a steady income stream and are risk-averse. Fixed annuities offer a fixed interest rate that doesn't change, and you can choose to receive payments over a set period of time or for the rest of your life.
2. Variable Annuities: A variable annuity allows you to invest your money in a range of investment options, such as stocks, bonds, and mutual funds. The returns on a variable annuity are based on the performance of the investment options you select, so there's potential for higher returns. However, this type of annuity also carries more risk than a fixed annuity.
3. Indexed Annuities: Indexed annuities offer a mix of features from fixed and variable annuities. The returns are based on the performance of a stock market index, such as the S&P 500. Indexed annuities provide an opportunity for higher returns than fixed annuities, but also offer protection against market downturns.
4. Immediate Annuities: An immediate annuity provides an immediate stream of income. You pay a lump sum upfront, and the insurance company guarantees a set amount of income for a set period or for the rest of your life.
5. Deferred Annuities: A deferred annuity is an annuity that you pay into over a set period of time and defer receiving payments until a later date, such as retirement. Deferred annuities can be either fixed or variable.

It's important to note that each type of annuity has its own set of benefits and drawbacks, and choosing the right type of annuity depends on your individual goals, financial situation, and risk tolerance. It's a good idea to speak with a financial advisor or insurance agent to determine which type of annuity is best for you.



Navigating the world of annuities can be complex, but a knowledgeable insurance agency can help you find the right annuity to fit your unique retirement goals. At Local Retirement Group, we recognize that annuities are not a one-size-fits-all solution. That's why we take the time to understand your financial objectives, retirement timeline, and risk tolerance to create a personalized annuity plan that works best for you. Our experienced agents will guide you through the process, answering any questions you may have and ensuring that you have a thorough understanding of the annuity you're selecting. Don't wait to secure your financial future –   contact us today  for a complimentary consultation with one of our annuity specialists.