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Home > Products > Annuities

Annuities in Aberdeen and all of South Dakota


An annuity is a unique type of investment that can help you secure a steady stream of income. Many people use annuities to supplement retirement income. Annuities provide regular income in exchange for a lump-sum payment to an insurance company. 

The agents at Insurance Plus in Aberdeen, South Dakota, can help you evaluate your options and choose an annuity to best meet your needs. 

What Is an Annuity? 

An annuity is an investment type. You provide funds to an insurance company in exchange for regular payments. Depending on the annuity type, you may be able to secure income that you can’t outlive. You may also be able to purchase an annuity with regular payments made to an insurance company over time. 

There are two types of annuities to choose from, depending on when you want to start receiving payments. 

  • Deferred annuity—This allows the annuitant to start receiving regular payments at some point in the future.

  • Fixed annuity—This allows the annuitant to start receiving regular payments immediately.


There are three main types of annuities from which to choose: 

  • Fixed annuities pay a guaranteed amount during each payment period. Fixed annuities may have a moderate rate of return.

  • Variable annuities rely on the performance of mutual funds chosen by the account owner. Payments are based on how the mutual funds perform. This type of annuity carries a certain level of risk.

  • Indexed annuities may provide a higher return than fixed annuities but are generally less risky than variable annuities. A portion of the interest earned on the account is tied to a market index. This type of investment has a guaranteed minimum payout.


How Are Annuities Calculated? 

Your income from an annuity is determined by the type of investment you choose, the insurance company’s terms, and the amount of money you deposit into the account. 

Your insurance agent can help you understand how each type of annuity may provide income, so it’s crucial to get a personalized quote before choosing an annuity. 

Learn More About Annuities 

The agents at Insurance Plus can help you understand how purchasing an annuity may help you reach your income goals by providing regular payments. Contact us today to learn more about your options and get a quote. 

Contact Us Today!
605-225-4270

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405 NW 8th Avenue, Suite 204
Aberdeen, SD 57401

Main Office: 605-225-4270Toll free: 800-456-5167
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