An annuity is an insurance product that provides a guaranteed income stream, either for a set period or for life. You pay a lump sum or series of premiums to an insurance company, and in return, you receive regular payments. Annuities are often referred to as a “personal pension” but unlike traditional pensions, annuities offer more flexibility, giving you control over how your retirement income is structured.

Annuities come in different types to match your retirement goals:

• Fixed annuities: Provide steady, predictable growth with a guaranteed interest rate
• Variable annuities: Offer growth potential based on investment options, with both upside opportunity and market risk
• Income annuities: Focus on providing guaranteed income for life, helping you cover essential expenses in retirement

Commission-free annuities offer several key advantages for retirement planning:

• Guaranteed income: Provides a predictable stream of income during retirement
• Principal protection: Your initial investment is protected from market losses
• Tax-deferred growth: Earnings grow tax-deferred until you begin taking withdrawals, allowing your money to compound more efficiently

A 1035 exchange is an IRS provision that allows for a tax-free transfer from one annuity policy to another. This gives you flexibility in reviewing and choosing annuity solutions that best  aligns with your retirement goals while keeping your money growing tax-deferred and maintaining your principal protection.

A 1035 exchange can allow you to exchange your old annuity for a new annuity without surrender charges. This will help you protect your principal and maintain tax-deferred growth. Remember: each annuity contract has specific provisions and should be reviewed before initiating a 1035 exchange.

Long-term care coverage helps protect your retirement assets from the high costs of future care needs. By including it in your financial plan, you can maintain income stability, safeguard your principal, and have the flexibility to choose where and how you receive care — without putting strain on your family or portfolio.

Yes. Annuities can include long-term care benefits or enhanced payout options that increase income if you require assisted living. This helps you cover essential expenses with guaranteed income while maintaining principal protection and tax-deferred growth, ensuring your assets continue to work for you even if your needs change.

Yes. Through Avenew, investors can independently explore and purchase commission-free retirement products such as annuities and life insurance. The platform gives you access to find and compare annuity options that can offer guaranteed income, principal protection, and tax-deferred growth — all in one place.

Once you click “Apply Now”, you will register for the platform, fill out the application form, and a DPL consultant will be reach out to you within a few business days.