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Annuities

Why should you consider an annuity?

An annuity is an insurance product that pays you a steady income in retirement. Basically, with an annuity in place, you will never run out of money to live on in retirement. While the concept is simple, the options for annuities can be complex.

If you’re wondering if an annuity might make sense for your financial plan or if you have questions about annuities, please contact us. A licensed Agent at Harner Insurance will be glad to help you.

Contact us or call 717.561.0547 to get started.

Call 717-561-0547 for a personalized quote.

Is an Annuity a Good Option for You?

Annuities are not for everyone. It’s advisable to speak with a licensed Agent or trusted financial advisor to determine if an annuity (and which type of annuity) might work best for you.

Annuities might be a good fit for you if:

  • You’re worried that you might outlive your other retirement savings (a majority aren’t on track with their savings).
  • You have enough cash to maintain your current cost of living.
  • You don’t need access to cash immediately.

Pros

  • Similar tax advantages to a 401(k) or IRA
  • There’s no contribution limit
  • You can choose to receive payments for a set time or for the remainder of your life

Cons

  • Early withdrawal penalties at ordinary income tax rate for withdrawals before age 59 1/2.
  • You could lose your monthly checks and the money you invested if the company holding the annuity fails.
  • Standard fees are often deducted from your payments and your cash value. Speak with an Agent for details on fee structures.

Advice With a Local Mindset

At Harner Insurance & Financial Services, we understand that finding the best solutions for your personal situation is your number one priority. Our dedicated agents and financial planners provide access to quality coverage while maintaining individual attention and care one might expect from a small business.

With us, you’re not a number. When you call, we’ll know you by name and you will speak with an agent or advisor you know and trust. This approach means our clients get a personalized experience and access to top tier insurance policies with competitive rates.

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Schedule a Consultation or Ask a Question

If you are in the Harrisburg or Central PA area and are considering an annuity or are looking for retirement planning advice, please contact us today.

Call our Harrisburg office at 717-561-0547 or contact us to request more information.

Already Have Insurance With Another Provider?

Request an insurance consultation to review how you can:

Be sure you’re protecting what’s most valuable to you and that you’re not overpaying for insurance.

Schedule a No-obligation Insurance Review