Fixed and Variable Annuities

How does a predictable stream of retirement income sound?

For investors especially concerned with generating additional income in retirement, annuities offer a means of achieving that goal.

  • Fixed annuities offer a guaranteed* fixed rate of return for a specified period of time and can provide a protected income stream when annuitized.
  • Variable annuities1 provide investment growth opportunities, along with the ability to purchase optional living benefit riders for an additional fee, to ensure a guaranteed lifetime income regardless of how the annuity performs.
  • Immediate annuities can be designed to provide an additional guaranteed income stream for a pre-determined number of years or for life, in exchange for a lump sum payment to an insurance company.

Why add an annuity to your portfolio?

  • Delivers an additional source of guaranteed income in retirement to help cover your expenses
  • Offers another way to obtain tax-deferred growth if you’ve maxed out your 401(k) and IRAs – with no contribution limit
  • Through optional riders, which involve additional fees, allows you to protect all or a portion of your investment from market losses
  • May lower your overall portfolio risk, allowing you to be more aggressive when investing other assets

Important Note: Like other tax-deferred savings, annuities carry a tax penalty if assets are withdrawn prior to age 59½, plus they are subject to regular income tax on earnings.

Why work with a SunTrust Investment Services advisor (STIS) to find the right annuity?

  • Access some of the most innovative products from leading insurers
  • We’ll help you unravel the complexity of choices, insurers and optional riders to find the solution that best aligns with your needs

Will your retirement income be enough?

While estimates vary, most advisors suggest a good rule of thumb for a comfortable retirement is to plan on replacing at least 70% of your pre-retirement income.

For someone earning $100,000 that means you’ll need around:

Will your retirement income be enough?

 

Learn how our SunTrust SummitView goals-based planning approach can give you a clear view into all your stocks, bonds, retirement and savings accounts, allowing you and your advisor to better align your investments to your goals and objectives.

DISCLAIMERS

* All guarantees are subject to the claims paying ability of the issuing insurance company.

An annuity is an insurance product designed for long-term savings. There are considerations to keep in mind, such as a surrender-charge period on full surrenders and on certain withdrawals. Account value will be impacted by withdrawals. These vary by contract so you want to ensure you are aware of these elements before you purchase an annuity. Withdrawals many be subject to federal and/or state income taxes. An additional 10% federal tax may apply if individuals make withdrawals or surrender their annuity before age 59 ½.

1 Variable annuities are long-term investments and involve fees and expenses not typically associated with other investments. Surrender charges may apply in the early years of an annuity contract. Earnings will be taxed as ordinary income at withdrawal. Withdrawals prior to age 59½ may be subject to a 10 percent penalty. Variable annuities values fluctuate so that an investor’s shares, when redeemed, may be more or less than their original cost. Investing in variable annuities through a tax-deferred retirement plan such as an IRA will gain no additional tax advantages, and under these circumstances one should consider buying an annuity only if it makes sense because of other features, such as lifetime income payment and death benefit protection.

Investors should carefully consider the investment objectives, risks, and charges and expenses of a variable annuity before investing. This and other information can be found in the prospectus for the contract and its underlying investment options which can be obtained from your investment consultant. Please read it carefully prior to investing.

 

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