Greensboro · Piedmont Triad
Could an annuity fit your retirement plans?
If you’re considering an annuity, you deserve time to understand it. We can discuss how it works, what it costs, when you can access your money, and whether it fits your retirement needs.
- Licensed in North Carolina
- Personal review from a local agent
- Meet in person or by phone
- Free consultation. No obligation.
Understanding the contract
An annuity is a contract with an insurance company. Some contracts provide income right away; others allow you to save for income later. Payment options, interest, fees, and guarantees depend on the contract.
Before considering a contract, think about the income you already have, what you need for everyday expenses, and the savings you want to keep available. We can review those questions together.
Four times the answer is no
Take time to discuss these questions before making a decision.
You might need the money in the next few years
Consider the savings you need for emergencies, household expenses, and other planned purchases. Review withdrawal limits and charges before placing money in an annuity.
You are looking for growth
A fixed indexed annuity may limit the interest credited through caps, participation rates, or other terms. Understand those limits and how interest is calculated before comparing it with other options.
You’re unsure which figures are guaranteed
Ask which values are guaranteed and which are illustrations. Review the conditions behind any income amount, interest credit, or optional benefit shown in a proposal.
It would take most of what you have
Consider how much of your savings you would still have available for other needs. A financial advisor can help assess the proposal alongside the rest of your retirement plan.
What I am and am not licensed for
I hold a North Carolina insurance license. It covers fixed and indexed annuities, life insurance, and Medicare. Variable annuities are securities and need a license I don’t have. I’m not a registered investment adviser either, so I don’t manage portfolios or tell you what to hold in a 401(k) or a brokerage account.
For financial planning, I work with an advisor. We can involve the right professional to discuss how an insurance product would fit with the rest of your retirement finances.
Questions people ask me about annuities
- What does an annuity actually do?
- An annuity is a contract with an insurance company. Depending on the contract, it can help build savings for retirement or provide income now or later. Benefits, fees, access to your money, and guarantees vary.
- Is an annuity a good investment?
- An annuity may be one part of a retirement income plan. Different types have different risks and features. We can discuss the insurance products I offer and involve a financial advisor when reviewing how they fit with your investments.
- What is the catch?
- Understand when you can withdraw money and what charges may apply. Early withdrawals can involve surrender charges, other adjustments, or taxes. Keep your emergency needs in mind before committing money.
- Can I put my 401(k) into one?
- Some retirement funds may be eligible for a rollover to an annuity. Before deciding, review your current plan, costs, tax treatment, and access to your money with the appropriate financial and tax professionals.
- Do you sell variable annuities?
- Variable annuities require a securities license. I offer fixed and fixed indexed insurance products. For securities or investment advice, I work with an advisor.
- How are you paid on an annuity?
- The insurance company pays me a commission when a contract is issued. I’ll explain how I’m paid and review the contract’s costs and terms with you before you decide.
Have a proposal in front of you?
Bring the proposal or a statement from a contract you already own. We can review the guarantees, fees, withdrawal rules, and your questions together. There’s no obligation to make a change.
Free consultation in person or by phone. Appointments daily at 9am, 11am, 1pm, 3pm, and 5pm, Eastern time.