Nowell Agency, Inc. > Financial Services > Guaranteed Income for Life

Guaranteed Income for Life

Invest in Annuities for Retirement

You work hard and expect to benefit from the fruits of all those years of labor. Planning for retirement is critical to funding your golden years. Investing in the right type of annuity is one way to ensure you have a steady income stream for the remainder of your life. If you want to guarantee you will outlive your money, consider an annuity as part of your retirement portfolio.

If you are ready to take advantage of a steady stream of retirement income payments, we can help. Discuss your options with a knowledgeable guaranteed income insurance agent at The Nowell Agency. We consider your specific retirement needs and desires, to offer you the best options for your retirement plans.

How an Annuity Works for Guaranteed Income

What is an annuity? An annuity is a guaranteed insurance product where you give a lump sum of money to an insurance company to receive a fixed monthly income for the duration of your life or a specific number of years. In exchange for surrendering future access to your principal, you receive a guaranteed, stable annuity income. The reliable income is well worth the trade.

As with any retirement vehicle, taxes and penalties apply. It is possible that you may face an early withdrawal penalty if you want to take money out before you are 59 ½ years old. Additionally, annuities are taxed based on the type of asset you use to purchase it. Your guaranteed income for life tax advisor can help you understand how an annuity can affect your particular situation.

Payment Options for Retirement Income

While you may be able to begin receiving payments as early as 30 days from purchase, it may make more sense to defer payments. Additional payment options you may consider:

  • Delaying payment for many years. This may allow you to invest less money now but still secure an income for later.
  • Duration of guaranteed income for life payments. You may be able to choose from receiving income for the length of your life, your spouse’s life, or a specific number of years.
  • Cost of inflation. You may consider whether you want your income payments to increase to match inflation.
  • What to do with your guaranteed payments when you die. It may be possible to have those payments go to your beneficiaries, or they may be able to receive a refund of your annuity purchase.

Our team at The Nowell Agency will discuss all your payment options and choices in detail with you. We are happy to answer your questions and concerns.

Top Guaranteed Income for Life Agency

At The Nowell Agency, we understand the importance of preparing for retirement. We work with several insurance companies to find you the retirement vehicles for your needs. We have the experience and knowledge you can trust to help you determine the most affordable guaranteed income for life options. One of our team members will be happy to create a customized retirement plan to suit your goals.

Contact one of our offices near you or email us to schedule a meeting with a knowledgeable and experienced agent at The Nowell Agency. Request More Information.

GET A QUOTE

The Nowell Agency is committed to providing you with fast and efficient service. If you would like a quote on any of our products please complete the short form below and click submit.

Get A Quote Form

    Testimonials

    FROM OUR CLIENTS

    The Nowell Agency has been my primary agent for many years and they are attentive, well-staffed, and easy to talk to. Their agency has helped me through state to state moves and career change and kept my assets covered.

    James G.

    My very first insurance experience was when I bought my first house and I called the Nowell agency for a quote. I had no idea what I needed or how much and they were so very kind and knowledgeable and explained everything to me in detail which I so much appreciated. That has been 4 years ago and im still a customer never plan to leave.

    Ashleigh D.

    I have been very pleased with the quick and professional service by the Nowell agency. My agent was very efficient at locating a policy that met my needs and budget. Thank you to Kristy and the Nowell agency for providing me with fantastic customer service. I highly recommend this agency. You will not be disappointed.

    Tripp W.

    NOWELL INSURANCE KNOWLEDGEBASE

    5 Reasons You Need Convenience Store Insurance for Your Florida Location

    By

    December 16, 2020

    Obtain the Policies You Require from The Nowell Agency People like to stop by a corner store for their favorite midnight snack, including your customers. As a store owner, you continually strive to provide your patrons with the things they like. Maybe you increased your offerings to include deli sandwiches and take-and-bake pizza. You might […]

    4 Signs that it’s Time to Purchase Landscape Contractor Insurance

    By

    December 16, 2020

    Guidance for Your Texas Business from The Nowell A...

    5 Suggestions for Contractor Success in a post-COVID World

    By

    November 30, 2020

    Florida’s Dependable Contractor Insurance Agency...