Buying An Annuity [FAST]

begin paying income almost immediately (within a year) after a single lump-sum payment.

Covering potential future medical or confinement costs. 2. Choose the Right Type of Annuity buying an annuity

Before looking at products, ask yourself what you want the money to do for you. Common goals include: begin paying income almost immediately (within a year)

Safeguarding your initial investment from market losses. Lifetime Income: Ensuring you never outlive your savings. Legacy: Leaving a specific benefit for your heirs. Choose the Right Type of Annuity Before looking

Annuities are categorized by when they pay out and how they grow:

Returns are tied to market-linked subaccounts (like mutual funds), offering higher growth potential but also the risk of losing principal.

Provides returns based on a stock market index with a "floor" to protect against losses, though upside is usually capped. 3. Evaluate Pros and Cons When do annuities make sense | Retirement - Aviva