Berea Office
302 Richmond Rd. PO Box 428
Berea, Kentucky 40403
Phone: (859) 986-1056
Richmond Office
1060 Center Dr. PO Box 743
Richmond, Kentucky 40475
Phone: (859) 626-5252
Fixed Annuities are a type of insurance contract where an insurance company makes a series of guaranteed payments in exchange for a sum of money at the outset of the contract; some fixed annuities will provide for a payment plan over time to build up the annuity lump sum. This type of investment instrument can help stabilize investment income, defer taxes on investment earnings, and is often part of a financial strategy for retirees or those contemplating retirement. Because of the guaranteed income stream provided by the fixed annuity, the insurance company, rather than the insured (annuity owner), takes the investment risk.
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