Annuities can help Charlotte, NC residents plan for retirement income or long-term accumulation. The Jordan Insurance Agency helps you compare fixed and fixed-indexed contracts based on when you need income, the amount you want to fund and your need for access to savings. Review guaranteed benefits, payout choices, withdrawal provisions, surrender charges and any rider fees together. Lifetime payments require the appropriate contract or option and its conditions; guarantees depend on the issuing insurer's claims-paying ability. Bring existing retirement benefits and income goals, and review tax or rollover questions with your tax adviser before moving funds.

Annuity Basics

Fixed Annuities & MYGAs

Fixed Indexed Annuities

Income & Guarantees

Rolling Over a 401(k), IRA or Pension

Costs, Access & Taxes

Safety, Myths & Suitability

Choosing an Agent

Ready to compare coverage? Review our annuities and retirement-income guidance for available options and personal guidance.

How to Evaluate an Annuity for Retirement Income

An annuity is a contract with an insurance company, not a bank account or a one-size-fits-all investment. It may be designed for accumulation, future income, current income, or principal protection. The first step is to define the job the annuity would perform in your retirement plan. Someone seeking predictable lifetime income has a different objective from someone seeking tax-deferred growth or a protected portion of savings.

Know the major contract types

Fixed annuities credit interest according to the contract. Fixed indexed annuities link credited interest to an index formula while generally protecting the contract value from direct market losses, subject to the insurer's terms. Variable annuities use investment subaccounts and can fluctuate with market performance. Immediate and deferred income annuities convert a premium into a stream of payments beginning now or later. Guarantees depend on the insurer's claims-paying ability.

Compare access, fees, and surrender terms

Review the surrender-charge schedule, annual free-withdrawal provisions, market value adjustment, contract fees, rider costs, and tax treatment. Withdrawals before the applicable tax age can create additional tax consequences, and taking money beyond the contract's free amount may trigger a surrender charge. An annuity should not hold emergency funds that may be needed quickly.

Ask how income is calculated

Separate the account value, cash surrender value, and any rider benefit base; they are not always the same number. Ask whether income is guaranteed for one life or two, whether payments increase, what remains for beneficiaries, and whether a rider can change. Compare the result with Social Security, pensions, investment withdrawals, and other reliable income.

Questions for a licensed professional

  • What specific retirement problem does this contract solve?
  • What are the guaranteed and non-guaranteed values?
  • How long is the surrender period, and when can money be accessed?
  • What compensation, fees, and rider charges apply?
  • How strong is the issuing insurer, and what happens at death?

Review the agency's annuity overview, retirement-planning resources, and 401(k) rollover guidance before deciding whether an annuity belongs in a broader plan.