To ensure financial success in the future, it’s important to start planning now. That’s where annuities come in! An annuity can earn tax-deferred interest and secure a stream of income that will help you maintain a comfortable lifestyle during your retirement. It's a guaranteed contract between you and an insurance company, like ELCO Mutual, that acts as a long-term retirement vehicle to protect you from outliving your money.
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Depending on the type of annuity you choose, you can make a one-time payment in the form of a lump sum or a series of contributions over time. Then, at the time of your choosing—either right away or later down the road—you’ll receive disbursements of this tax-deferred money. Payments are made to you for life, ensuring you you’ll always have incoming funds.