Our research shows*
Guarantees are backed by the claims-paying ability of the issuing insurance company.
Annuities are long-term insurance products designed for retirement. In exchange for your premium, the issuing insurance provides a stream of guaranteed income payments. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract as well as the amount available upon cancellation of the contract/policy. Withdrawals of taxable amounts are subject to ordinary income tax, and if taken prior to age 59½, an additional 10% federal tax may apply.
*AIG Life & Retirement Moving Forward: Planning for the Future in Changing Times, 2022. AIG Life & Retirement commissioned a survey of 1,000 Americans ages 22-76 with household incomes of $40,000 or higher to understand how the pandemic may have affected attitudes, behaviors and outlook toward retirement, planning for the future, being prepared for the unexpected, and working with financial professionals. Conducted by Greenwald Research, the survey was fielded from June 17 - July 2, 2021.