| Annuities
DiVirgilio Financial Group is your independent no-load annuity marketplace. We provide one-stop shopping for all of your annuity needs, as well as the tools and information required to learn about, compare and buy fixed rate tax-deferred, equity-indexed and immediate income annuities.
There are two main annuity types: Immediate and Deferred. With an immediate annuity, your income payments start right away (technically, anytime within 12 months of purchase). You choose whether you want income guaranteed for a specific number of years or for your lifetime. We calculate the amount of each income payment based on your purchase amount and your life expectancy.
A deferred annuity has two phases: the accumulation phase, where you let your money grow for a while, and the payout phase. During accumulation, your money grows tax-deferred until you take it out, either as a lump sum or as a series of payments. You decide when to take income from your annuity and therefore, when to pay the taxes. Gaining increased control over your taxes is one of the key benefits of annuities.
The payout phase begins when you decide to take income from your annuity. For most people, this is during retirement. As your needs dictate, you can take partial withdrawals, completely cash-out (surrender) your annuity, or convert your deferred annuity into a stream of income payments (annuitization). This last option is essentially the same as buying an immediate annuity.
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To speak with a live, licensed Annuity Advantage Specialist regarding Annuities, please contact us.
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