WHAT’S AN ANNUITY
What’s an annuity?
Quite simply, an annuity is a financial tool.
And like most tools, it helps you build something. In this case … retirement income.
In a way, annuities are like power tools. You have to charge them up first. And you power up an annuity by paying premiums.
Later, the insurance company pays you back … with interest … tax advantaged …
in a single sum … or regular intervals … guaranteed!
Best of all, no matter how much you pay in, an annuity can pay out for as long as you live. So you may never run out of income in retirement. No matter what happens in the market or economy. No other financial tool can do that. Plus, in some instances, you can even set them up to pay a beneficiary.
Does an annuity have costs? Sure. But so do other financial tools. And they can vary. The good news is, those costs help build the value other tools can’t match, such as the guarantees and the lifetime payouts.
Of course, an annuity may be used a long time so it’s key to consider one from a company that measures up with a long history of high industry ratings such as Standard & Poors, Moody’s, AM Best and Fitch … and a strong Comdex score which is an average of a company’s ratings. (Our 96 Score on Measure Tape) Note that the agencies that rate us are registered as Nationally Recognized Statistical Rating Organizations with the SEC. And we go to great lengths to maintain these standards.
DISCLOSURE ON SCREEN: NOTE: SEC is the U.S. Securities & Exchange Commission
Look, an annuity may not be the only thing in your financial tool box to help you save for the future. But it’s handy way to help build your savings now and protect you against the risk of outliving them later -- which can put a real wrench in your retirement.
Of course, this is just a high level look at annuities. A visit with your financial advisor can help nail down the details. Tell ‘em you … saw it here first.
The Comdex Ranking (accurate as of August 2023) is a composite of all the ratings a company has received from the major rating agencies. It ranks insurers on a scale of 1 to 100 (where 1 is the lowest) to reduce confusion over ratings because each rating agency uses a different scale.
Annuity products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value. Payment of the benefits of Columbus Life Insurance Company products is backed by the full financial strength of Columbus Life Insurance Company, Cincinnati, Ohio.
Guarantees are based on the claims-paying ability of Columbus Life. Products are backed by the full financial strength of Columbus Life.
For financial professional use only. Not for use with the public.
© 2023 Columbus Life Insurance Company. All rights reserved.
CF-31-35048-CL (11/23)
