National Annuity Awareness Month — Annuities for Retirement Savings

BY Sagicor Life Posted June 01, 2020 In Sagicor Life USA Tips

If you’re actively planning for retirement, you’ve probably heard of annuities. Finding the right vehicle for your money is important, and annuities are a popular choice for many people.


What is an Annuity?

It is a contract between you and the company that is selling it. You agree to pay them a certain amount, and they agree to make regular payments, or disbursements, back to you. When the disbursements start — and how long they last — depend on the type of annuity contract. For more information on the different types of annuities, click here.


Tax-deferred Growth Potential of Savings

Annuities serve as useful tools for retirement because most annuities get favorable tax treatment as your investment grows. With a fixed annuity product, for example, your savings grow tax-deferred, so that you can accumulate more over time for your future than if you had to pay taxes now on any interest earned.

Annuities can also offer tax-deferred accumulation and compounding of interest. This means that 100% of your money can work harder for you.


Protection from Market Losses

Fixed annuities may allow you to accumulate more, while sheltering your savings from market losses. Some products provide a guaranteed fixed rate of interest over a period of time called a guarantee period; you do not have to rely on the stock market for all of your retirement savings. Your money can grow on a tax-deferred basis during this time without worrying about volatility or market risk.



Find more information about how Sagicor’s annuity products can help you save for retirement, or contact us.

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Sagicor Life Insurance Company, home office Scottsdale, Arizona issues life insurance and annuities. Products not available in all states and state variations may apply. Products have limitations and restrictions including surrender charges. 


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