An annuity can help you protect and grow your retirement savings, giving you more confidence that you'll have the income you need to do more of what you love in retirement.
What are annuities?
Annuities are a type of financial product with many different options and features. Generally, annuities can help you save for retirement. Certain types of annuities may offer some protection against market downturns, and some types may provide a steady stream of guaranteed income payments. Guaranteed income payments can be set up to last for either a specific number of years or the rest of your life and can start right away or on a future date.
An annuity is a contract with an insurance company and can generally only be purchased through a financial professional.
What are some common types of annuities?
Finding the right annuity for your financial goals starts by understanding the main types, each of which has specific characteristics and offers some protection, either for the investments or the income being paid. These features can vary by the insurance company offering them:
- Index-linked annuities allow you to select and participate in growth opportunities by tracking the performance of a market index like the S&P 500®, up to a certain percentage, while offering a level of protection for a portion of your portfolio.A
- Variable annuities provide investment options you may choose from to potentially grow your retirement savings, depending on market performance. It may also offer other features (typically for an additional fee) that can provide benefits like guaranteed income for life.
- Fixed index annuities provide protection of your principal in down markets while offering the opportunity for growth by tracking the performance of market indices.
- Income annuities provide an immediate or future guaranteed stream of income payments.
- Fixed annuities provide growth at a guaranteed interest rate with no risk of market loss.
Why should I consider an annuity?
Annuities can help address common concerns that today’s retirees face, such as:
- Living longer: “Will I run out of money?”
Some annuities may provide guaranteed income that you can’t outlive.
- Unpredictable markets: “What will happen to my savings if there’s market volatility?”
Certain types of annuities can offer a level of protection for a portion of your portfolio.
- Changes to traditional retirement income planning: “Without a pension, how else can I create a steady stream of income?”
Some annuities can help supplement other income sources such as Social Security to help cover everyday expenses in retirement.
- Rising health care expenses: “Do I have enough to cover the cost of care for myself and my family?
While your specific health care costs may be unpredictable, certain annuities can provide monthly income payments that may help with expenses not otherwise covered by insurance and Medicare.
Brighthouse Financial Annuity Products
Brighthouse Financial can help you meet your financial needs through a variety of annuities, including:
How to Buy a Brighthouse Financial Annuity
Annuity products from Brighthouse Financial can only be purchased through a financial professional. Some questions that can help you begin a conversation with your financial professional are:5
- Do I have a diverse balance of income sources that’s right for the retirement I want?
- Will my essential expenses be covered with my current income sources, or could there be a gap I need to address?
- If an annuity is recommended for me, which type would complement my portfolio?
Don’t have a financial professional?
Brighthouse Financial® is on a mission to help people achieve financial security.
Trusted by over 2 million customers and with over 2 million annuity contracts and life insurance policies in force,6 Brighthouse Financial® is proud to be a FORTUNE® 500 company7 and one of the largest providers of annuities and life insurance in the U.S.8