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
Designed to convert a portion of your assets into scheduled income. Depending on the annuity and payout option selected, payments may continue for a specified period or for the lifetime of the annuity owner, and certain options may provide income for a spouse or other joint annuitant. Guarantees are subject to the terms of the contract and the claims-paying ability of the issuing insurance company.
Fixed and Fixed Indexed Annuities
Fixed and fixed indexed annuities are insurance contracts designed to provide tax-deferred accumulation without directly investing your contract value in the stock market. Fixed indexed annuities may earn interest based in part on the performance of an external market index, subject to the contract's crediting method, participation rates, caps, spreads, and other terms. Contract values are subject to withdrawals, surrender charges, rider charges, and other applicable contract provisions. Guarantees are backed by the issuing insurance company.
Legacy-Focused Annuities
Certain annuities offer death-benefit features or optional riders designed to provide a benefit to named beneficiaries. Depending on the contract and rider selected, the beneficiary benefit may differ from the annuity's account value. Rider charges, eligibility requirements, limitations, and tax consequences may apply.
Multi-Year Guaranteed Annuity (MYGA)
A MYGA is a fixed annuity issued by an insurance company that provides a guaranteed interest rate for a specified period, subject to the terms of the contract. Interest generally accumulates tax-deferred until withdrawn. MYGAs are insurance products, not bank deposits, and are not FDIC insured. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.
Single Premium Immediate Annuity (SPIA)
A SPIA is funded with a single premium and generally begins making income payments within 12 months. Depending on the payout option selected, payments may continue for a specified period or for life. Lifetime payment guarantees are subject to the terms of the contract and the claims-paying ability of the issuing insurance company.
Deferred Annuities
Deferred annuities are designed to accumulate value before income begins at a later date. Earnings generally grow tax-deferred until withdrawn. Some contracts offer optional lifetime income riders that can provide guaranteed income according to the rider's terms, conditions, charges, and benefit calculations. Guarantees are backed by the issuing insurance company.
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 fixed indexed annuities are insurance contracts whose guarantees depend on the financial strength and claims-paying ability of the issuing insurance company. We consider factors including the carrier's financial-strength ratings when comparing annuity options. Independent ratings are subject to change and do not guarantee future performance or the payment of benefits.
Can I access my money?
Many annuity contracts permit limited annual withdrawals without a surrender charge, but withdrawal provisions vary by product and carrier. Withdrawals above the contract's permitted amount may be subject to surrender charges, market value adjustments, taxes, and other contract provisions. Withdrawals before age 59½ may also be subject to a federal tax penalty.
How is Marino Financial paid?
Marino Financial does not charge a separate advisory fee on the annuity contract itself. If you purchase an annuity through us, the issuing insurance company may pay compensation to the licensed insurance producer. Compensation arrangements vary by product and carrier.