Annuities in Mount Prospect & Beyond
Guaranteed Income & Stable Growth for Your Retirement
Annuities are financial products offered by insurance companies that help you grow money tax-deferred or convert savings into a guaranteed income stream. They’re commonly used in retirement planning to ensure you don’t outlive your savings — providing pension-like stability and predictable financial support. Whether you’re approaching retirement or looking to diversify your long-term strategy, annuities can offer security that market-based investments don’t always provide. Held Insurance Agency helps you explore annuity options in clear, simple terms so you can make confident decisions.
Types of Annuities & How They Work
Fixed Annuities
Provide a guaranteed interest rate for a set period. Ideal for safe, steady growth without market risk.
Fixed Indexed Annuities
Interest is tied to the performance of a market index (like the S&P 500), but with downside protection. You won’t lose value due to market drops.
Immediate Income Annuities
Turn a lump sum into income payments that begin right away — similar to a personal pension.
Deferred Income Annuities
Provide income starting at a future date. Useful for long-term retirement planning or longevity protection.
Tax-Deferred Growth
Money inside an annuity grows tax-deferred until withdrawn, which can be beneficial for people who have maxed out other retirement accounts.
Optional Riders
Some annuities offer lifetime income riders, enhanced benefits, long-term care components, or guaranteed withdrawal features. We help you understand which (if any) are worth considering.
What to Expect From Our Team
We begin by learning about your retirement goals, risk tolerance, timeline, and whether you’re seeking growth, guaranteed income, or both. As independent agents, we primarily work with reputable carriers offering fixed and fixed indexed annuities. For more complex retirement needs, we can connect you with trusted financial partners. Our role is to provide balanced, unbiased guidance — explaining pros and cons in plain English so you can decide whether an annuity fits your long-term financial plan.
Understanding Annuity Options
Below is a straightforward overview of common annuity types and their uses.
| Annuity Type | Purpose | Ideal For |
|---|---|---|
| Fixed | Guaranteed interest & principal protection | Conservative saver |
| Fixed Indexed | Growth potential with no market loss | Balanced risk planners |
| Immediate Income | Pension-like income now | Recent retirees |
| Deferred Income | Income later in life | Longevity planning |
| Tax-Deferred Savings | Accumulate funds without immediate taxes | Those maxing out other retirement accounts |
Need help deciding if an annuity fits your retirement strategy? We’re here to help.
Common Questions About Annuities
How can an annuity provide retirement income?
Certain annuities convert a lump sum into guaranteed payments — either for life or a set period — providing stable income you can’t outlive.
Are annuities a safe investment for savings?
Fixed and fixed indexed annuities protect your principal from market losses, making them a safe option for conservative savers.
What’s the difference between fixed and indexed annuities?
Fixed annuities earn a guaranteed rate, while indexed annuities earn interest based on market performance but without risk of losing value.
Are annuities tax-deferred?
Yes. Earnings grow tax-deferred, and taxes are paid only when funds are withdrawn.
Do I need a large lump sum to start an annuity?
Not necessarily. Many annuities have reasonable minimums, and we help you explore options that fit your financial situation.
Strengthen Your Retirement With Reliable Income
Annuities can add security and predictability to your long-term financial plan. Let us help you evaluate your options and build a retirement strategy with confidence.
