Annuities
An annuity is a contract with an insurance company in which your premiums are repaid, plus earnings, at a later date. The policies are purchased to assure income as the investor grows older, paying out a predetermined lump sum or monthly payment once you reach a certain age.
Annuities are tax-deferred investments, so you don't pay taxes on your earnings until you withdraw the funds. Even though you pay taxes when the money is paid out, years of compounded interest on money that would have gone to taxes for another investment can add up to greater value overall.
There are a wide range of options when payment begins and how it is made, so you can tailor the annuity income to your own financial goals and time horizons.
City Securities Corporation offers a variety of annuities, including:
- Single Premium Annuities
- Flexible Premium Annuities
- Immediate Annuities
- Fixed Annuities
- Variable Annuities
Variable annuities* offer tax deferral as well as the opportunity to participate in the stock market through subaccounts. These subaccounts are managed by many of the same money managers who manage top rated mutual funds. City Securities Corporation is proud to offer variable annuities from highly rated insurance companies with subaccounts managed by world-class money managers including:
- PACIFIC LIFE
- LINCOLN NATIONAL
- JACKSON NATIONAL
- PRUDENTIAL
- HARTFORD LIFE
*Variable annuities are offered by prospectus only.