Annuities are long-term solutions designed to protect assets set aside for a specific use. Regardless of market conditions, annuities are one of the most popular and flexible ways to maximize the power of tax deferral and take some of the guessing out of saving for retirement. At the same time they give these assets an opportunity to appreciate in value, keep pace with inflation or even provide lifetime income.
Simply put, an annuity is an investment contract issued by an insurance company. You pay no income tax on your earnings until you withdraw your money or begin receiving payouts. As a result, your money can grow faster than it would in a taxable account. Unlike a qualified retirement plan or an IRA, however, a tax-deferred annuity has no contribution limit.
In addition, most of the annuities available through SunTrust Investment Services, Inc. offer principle protection, which are subject to the claims-paying ability of the issuing insurance company. Electing principle protection guarantee may carry an additional fee.
Different types of annuities are designed to meet different investment goals. Your insurance-licensed SunTrust Advisor can help you choose a plan with features that address your individual goals and attitudes.
- Fixed annuities can be an excellent way to save for your retirement because they provide a fixed rate of return for a specific term and help protect you from market volatility.
- Variable annuities1 fluctuate in value with market conditions, but they offer the potential for higher investment returns over the long run.
- Immediate annuities2 are a way to turn retirement savings into a retirement income stream that will last either a set period of time or throughout your life and/or your spouse's life.
Annuities can be used to protect asset values, current and future income streams, and even assets meant to be transferred to the next generation. All guarantees are based on the claims paying ability of the issuing insurance company.
Annuity solutions for you
SunTrust Investment Services representatives have access to some of the most innovative annuity products from the best providers in the industry. They will work to assess your individual situation and then help you determine the solution that best address your particular needs.
Below is a list of annuity carriers whose products SunTrust Investment Services offers:
- AXA Equitable Life Insurance Company
- Genworth Financial
- Hartford Life Insurance Company
- John Hancock USA
- Lincoln Financial Group
- MetLife Investors USA Insurance Co.
- Nationwide Financial
- New York Life Insurance and Annuity Corporation
- Northstar Financial Services (Bermuda)
- Pacific Life Insurance Company
- Protective Life Insurance Company
- Prudential Financial
- RiverSource Life Insurance Company
- Sun Life Assurance Company of Canada
- Symetra Financial Corporation
- Transamerica Life Insurance Company