Every type of annuity, explained in plain English.
Annuities are contracts with an insurance carrier that trade a lump sum (or series of payments) for guaranteed income, protected growth, or a legacy for your heirs. There isn't one 'annuity' — there are several, each built for a different job. Here's what we shop for Nevada clients.
What you get
Income Annuities
Built to turn savings into a paycheck. You hand the carrier a lump sum and they contractually pay you monthly income — either for a set number of years or for the rest of your life (and optionally your spouse's).
Growth Annuities
Fixed and fixed-indexed contracts designed to grow your money with zero market risk. Your principal is protected and gains lock in each year — you never give back a positive year to the next downturn.
Legacy Annuities
Structured to maximize what passes to your heirs. Often paired with an enhanced death benefit rider so beneficiaries receive more than the account value — a tax-efficient wealth transfer vehicle.
Multi-Year Guaranteed Annuity (MYGA)
Think of it as a CD alternative from an insurance carrier. You lock in a fixed interest rate for a set term (typically 3–10 years), gains compound tax-deferred, and your principal is guaranteed.
Single Premium Immediate Annuity (SPIA)
One lump-sum premium, and income payments start within 12 months. The simplest way to convert a portion of retirement savings into a guaranteed lifetime paycheck — ideal for covering fixed monthly expenses.
Deferred Annuities
You contribute now, income turns on later (5, 10, 20+ years down the road). Money grows tax-deferred in the meantime, and a lifetime income rider can guarantee a higher future payout regardless of market conditions.
Who it's for
- Pre-retirees within 10 years of retirement who want to de-risk
- Retirees who want a paycheck to complement Social Security
- Anyone with rollover IRA money and a low tolerance for market losses
- Business owners looking for tax-deferred growth outside a 401K
- Families using an annuity as a tax-efficient wealth-transfer tool
Need more answers?
One conversation with a licensed Nevada advisor. No robocalls, no pressure — just a plan that fits.
Common questions
Are annuities safe?
Fixed and indexed annuities are backed by the insurance carrier's reserves and state guaranty associations. We only recommend A-rated carriers.
Can I access my money?
Yes — most contracts allow 10% annual withdrawals free of surrender charges, and surrender periods typically end after 5–10 years.
How is Marino Financial paid?
The carrier pays a one-time commission on the contract. You pay no upfront or ongoing advisory fee on the annuity itself.