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What Is an Annuity?

An annuity is a contract between you and an insurance company that provides certain income or investment guarantees to fit your individual needs.

Why own an annuity?

Depending on your needs, risk tolerance, and time horizon, an annuity can be an effective and important part of your overall retirement strategy by providing certain guarantees to help you reach your goals.

Generate guaranteed lifetime income

If you’re in or nearing retirement and are looking to convert your assets into regular income for life, you may want to consider an annuity. Certain types of annuities can:

  • Provide you with guaranteed retirement income for the rest of your life or you and your spouse’s life
  • Offer opportunities to invest according to your objectives to achieve potential growth
  • Potentially offer favorable tax treatment

Popular types of annuities that offer lifetime income include income annuities, fixed annuities, fixed indexed annuities, and variable annuities.

Grow and protect your savings

If you’re preparing for retirement and your primary objective is building your savings, an annuity may fit your needs. Certain types of annuities can:

  • Provide upside growth potential with downside market protection
  • Offer an alternate way to grow your savings tax-deferred without annual contribution limits
  • Help you leave a legacy to your heirs

Popular types of annuities that can help you save for retirement include: variable annuities, indexed variable annuities, fixed indexed annuities and fixed annuities.

We can help

Wells Fargo offers a wide range of annuities to help you take advantage of retirement income and savings opportunities. We can help you understand how different types of annuities work — including their features, benefits, fees, and potential investment risks.

We are here to help you decide which annuity may be right for your individual needs. To get started, contact a Wells Fargo retirement professional today.

Have a question?

Request a Consultation

Call us 1-866-246-5056