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What is an annuity?
If you're nearing retirement and have a 401(k) or IRA, an annuity can help you turn that savings into guaranteed income you won’t outlive. An annuity is a contract with an insurance company that allows you to roll over part or all of your retirement funds—without taxes—and in return, receive a steady monthly income for life or a set number of years. There are options like fixed annuities for predictable payments and indexed annuities that can grow based on market performance, but with zero downside risk. At Chicago Life Group, we specialize in helping retirees protect their nest egg from market volatility and create dependable, tax-efficient income for the years ahead.
Benefits of annuities
Who is an annuity a good fit for?
An annuity is a great fit for anyone approaching or already in retirement who wants steady, reliable income without the worry of outliving their savings. It’s especially ideal for those rolling over a 401(k) or IRA and looking to protect their nest egg from market volatility. If you're someone who values financial security, wants to avoid stock market risk, and prefers predictable monthly income to cover essentials like housing, healthcare, or lifestyle expenses, an annuity may be a smart solution. At Chicago Life Group, we help you determine if an annuity aligns with your goals and customize a plan that fits your retirement needs.