Turn part of your savings into income you cannot outlive. An annuity protects your principal from market losses, grows tax deferred, and can pay you a guaranteed paycheck for life. Straight answers, no pressure.
An annuity is a contract with an insurance company. You place in a sum of savings, your principal is protected, it grows tax deferred, and the carrier can guarantee you income for life.
The most popular type for Michigan retirees is the fixed indexed annuity. Your money is not invested directly in the market, so a downturn cannot lower your principal. Instead your growth is linked to a market index with a floor, usually zero, in exchange for a cap on the upside. Want the full breakdown of the three annuity types? Read our guide to fixed, indexed, and variable annuities, then we will make it specific to your retirement.
Usually 55 and up, looking to protect a portion of savings and create reliable income.
If a market drop right before retirement would hurt, an annuity takes that risk off the table for the money inside it.
You can often roll qualified money into an annuity without triggering taxes, then turn it into lifetime income.
A relaxed call about your savings, your timeline, and how much guaranteed income you want in retirement. No pressure.
I compare top-rated annuity carriers licensed in Michigan and bring you the contract with the best fit, rates, and income guarantees.
We complete the paperwork together. Your principal is protected from day one and your income plan is locked in.
Multi-year guaranteed annuity (MYGA) works like a CD from an insurance company: a fixed interest rate locked for a set term, principal protected. Simple and predictable.
Fixed indexed annuity (FIA) links your growth to a market index with a floor of zero, so you share in some of the upside without the downside risk. Many add an income rider for guaranteed lifetime income. This is the most common fit for retirees.
Income annuity turns a lump sum into an immediate paycheck for life. The honest trade-offs across all of these: growth is limited by caps or participation rates, surrender charges apply if you pull out too much in the early years, and annuities are not FDIC insured. The guarantees rest on the carrier's strength, which is why I only use highly rated companies.
I am licensed in Michigan and 26 other states, brokered through Family First Life, with access to top-rated annuity carriers including names like Athene, Nassau, F&G, North American, Global Atlantic, and American National. Rates and income guarantees vary a lot between carriers, so I compare them and bring you the contract that fits your goals, instead of selling you one company's product.
Not captive. I compare top annuity carriers and bring you the fit, not a pitch.
Licensed in Michigan, NPN 22121673. Verifiable through the National Insurance Producer Registry.
Fixed and fixed indexed annuities are built to protect your principal. They are not FDIC insured like a bank account; the guarantees are backed by the claims-paying ability of the issuing carrier, which is why I only use highly rated companies. According to the SEC at Investor.gov, an annuity is a contract designed to provide future income. I am licensed in Michigan and place retirees from Detroit, Grand Rapids, or Warren and across the state only with highly rated, financially strong carriers.
Not from a market drop. A fixed indexed annuity has a floor, usually zero, so when the index falls your value does not. The trade-off is a cap or participation rate on growth, and surrender charges if you withdraw more than allowed in the early years.
Yes. With an income rider or an income annuity, the carrier can guarantee payments for life, no matter how long you live or what the market does. A paycheck you cannot outlive.
They grow tax deferred, so you do not pay tax on the growth until you take it out. Qualified versus non-qualified money is taxed differently. This is general information, not tax advice, so we will involve your tax professional.
As an independent broker I shop top-rated annuity carriers including Athene, Nassau, F&G, North American, Global Atlantic, and American National, then bring you the contract that fits your goals.
Annuity rates change often and vary by carrier, your age, the type of annuity, and the term. Rather than quote a number that may be out of date, I compare current offers from top rated carriers and show you the real options for Michigan. Request a free annuity quote and I will pull the current rates that fit your situation. A fixed annuity also grows tax deferred, so Michigan's state income tax does not touch your growth until you choose to take income, and you decide when that is.
Michigan taxes personal income, which makes the tax-deferred growth inside a fixed annuity especially useful here. Your money compounds without Michigan taxing the growth each year, and nothing is taxed until you decide to take income. That control over the timing of your tax bill is one of the quiet advantages of an annuity for Michigan retirees.
A fixed annuity grows tax-deferred, so Michigan's state income tax does not touch it until you take income, and you decide when that happens.
I am licensed across Michigan and work with families in Detroit, Grand Rapids, Warren and beyond.
A short, no-pressure review of your savings and how much guaranteed retirement income an annuity could create. Curious how it compares to other tax-advantaged options? See tax-free retirement with an IUL or our full life insurance options for families.