What is an Annuity?
With an annuity you simply set aside a sum of your money in order to generate a periodic income. There are two phases to an annuity. The accumulation phase is when premium payments accumulate interest earnings. The payout phase is when a sum of money is paid out over a desired benefit period.
Both the accumulation phase and the payout phase of an annuity are extremely flexible. For example, the accumulation phase may consist of a single premium payment or a series of periodic premium payments. Also, the accumulation period may be as short as thirty days, or as long as fifty years or more. The payout period may be for a period as short as five years, or for the entire lifetime of the annuitant.
Whatever your situation calls for, an annuity from ERIE Family Life can be tailored to meet your needs.
Is an Annuity Right for You?
- Will your pension fall short of providing you with enough retirement income?
- Are you concerned about the future of Social Security?
- Is the idea of tax-deferred earnings attractive to you?
- Do you have money that you want to save for the future?
If you answered yes to any of these questions, an annuity from ERIE Family Life may be just right for you. It offers:
- A competitive return on your money
- Safety of principle and interest
- Tax-deferred earnings
- A periodic income you cannot outlive
