Call Us 631-928-5052 ☰ ˟
Logo
  • Home
  • Get A Quote
    • Annuity Quote Form
    • Auto Insurance Quote
    • Bond Request Form
    • Builders Risk
    • Business Owners (BOP) Quote Form
    • Port Jeff - Commercial Auto Quote Form
    • General Liability Quote Form
    • Liquor Liability Quote Form
    • Workers Compensation Quote
    • Flood Quote Form
    • Homeowner Flood Quote Form
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • Term Life Insurance Quote
    • Recreational Vehicle Insurance Quote
    • Renters Insurance Quote
    • Watercraft Insurance Quote
  • Customer Service
    • Port Jeff Auto Insurance
    • Port Jeff Homeowners Insurance
    • Port Jeff Business & Commercial Insurance
    • Port Jeff Contractors Insurance
    • Port Jeff Life Insurance
    • Port Jeff Watercraft & Boat Insurance
    • Port Jeff RV Insurance
  • Blog
  • Make a Payment
  • Resources
    • Secure Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Insurance Glossary
  • About Us
    • About Karras Agency
    • Location Map
    • Employee Directory
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Icon Auto Icon Home
Icon Life
Icon Contractors
Icon Business Icon Recreational
Home > Annuities Home

Annuities


Annuities Quote Forms

Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.

Annuity Quote Form

Annuities Information

What is an annuity?

An annuity is a long-term investment between you, the annuitant, and an insurance company, the annuity issuer. Under this contract, you pay after-tax funds to the annuity issuer, who then invests your principal to meet your financial objectives and pays you or your beneficiary back with earnings (subject to the claims-paying ability of the issuer).

If you have  a fixed annuity, your interest rate is guaranteed. With a variable annuity, your earnings are linked with the fluctuating performance of your investments and may be worth more or less than your principal when redeemed. In addition, you have added control in how your money is invested, creating a higher potential for growth. However, this option comes with a higher risk in return.

Unlike other investment plans, there is no limit to how much you can invest in an annuity. Your funds will steadily grow with a tax-deferred status, and you pay your regular tax income rate on only your earnings upon withdrawal.  

What annuity options are available?

An immediate annuity can begin paying you right away. You can choose whether you want your income guaranteed for a specific time period or if you want lifelong payments. The amount of your payments is calculated based on your principal and your life expectancy.

A deferred annuity is broken up into two phases:

  • Accumulation: This is when you add money to your annuity, whether you pay in a lump sum or you make a series of payments. You can continue to let your account grow tax-deferred for an indefinite amount of time.
  • Distribution: This is when you begin withdrawing money from your annuity whether you take out systematic withdrawals or you annuitize to supplement your finances with a regular stream of income for life.

Why buy an annuity?

An annuity is a good investment option for individuals who are willing to take a bigger risk in hopes of earning a bigger payout. Your earnings can then be used for supplemental income during retirement, guaranteed financial independence as you age, or a monetary legacy to leave behind for your loved ones. An annuity can help you continue living comfortably well into old age.

Contact us to learn more about planning your future with an annuity. We are happy to answer your questions and help begin your investment process today.

We spend more than 15 minutes on your insurance!
Social Social Social Social Social
Quick Links
Home
Get A Quote
Customer Service
Payment Options
Report a Claim
About Us
Our Carriers
Partners
Blog
Contact Us
Location 18 Roosevelt Ave.
PO Box 982
Port Jefferson Sta., NY 11776

P: 631-928-5052
F: 631-928-5482
Logos
Powered by Insurance Website Builder